Cabinet members are being asked to approve proposals for Infinity Park Derby which will unlock significant private sector investment, paving the way for economic growth and the creation of thousands of high-quality jobs in the city.
Proposals were submitted to the Government in March 2024 for Infinity Park Derby to become part of the East Midlands Investment Zone (EMIZ) and a Business Rates Retention area. They will be considered by Cabinet at the next meeting on Wednesday 6 August.
The EMIZ – managed by the East Midlands Combined County Authority (EMCCA) – offers a range of tax incentives to firms based within its boundaries and allows for EMCCA to retain business rates generated to re-invest in projects to support business growth. It will also focus on green industries and advanced manufacturing.
The plans for Infinity Park Derby to become a Business Rates Retention site will allow Derby City Council to retain a portion of the business rates to bring additional income and funding into the city to support local infrastructure and services, further boosting local economic growth in the city.
Councillor Nadine Peatfield, Cabinet Member for City Centre, Strategy, Regeneration and Policy, said:
It is brilliant news that Infinity Park Derby is part of the East Midlands Investment Zone and is also set to become a Business Rates Retention site. This will bring significant long-term economic benefit to the city by attracting major investment and helping to deliver thousands of high-quality jobs for Derby’s local communities.
Infinity Park Derby is already a strategic and successful site; however, this move will allow us to continue to deliver for the city.
Mayor of the East Midlands, Claire Ward, said:
The East Midlands Investment Zone represents a powerful statement of intent: that the East Midlands is ready to lead Britain’s journey into a cleaner, smarter industrial future. Infinity Park Derby is a cornerstone of that vision and will act as a catalyst for high-value jobs, clean energy innovation, and long-term economic resilience for the people of Derby. With my backing, we’re working in partnership to unlock new opportunities for our communities and positioning the East Midlands at the forefront of the UK’s green industrial revolution.
The designation of Infinity Park Derby as an Investment Zone site - with a focus on green industries and advance manufacturing - will help to support the delivery of the Council Plan by strengthening Derby’s competitive location as a place to do business, secure new business investment and supporting the move to a stronger, more diversified and high value economy, offering high value jobs to local people.
Infinity Park Derby is a unique collaboration between Derby City Council, the Harpur Crewe Estate, Rolls-Royce and Infinity Park Derby LLP, which includes Wilson Bowden Developments and Peveril Securities. It was awarded Enterprise Zone status in 2016.
The Park is located to the south of the city, next to the world headquarters of Rolls-Royce Civil Aerospace, with Toyota Manufacturing (UK) and Bombardier all close by.