Delivering the best financial return for the North Midlands
We want to make it easier for local firms to get the investment they need to expand, to create new opportunities for people, by offering loans and business advice services.
We also want the region to compete on an international stage. This is why we want to attract major manufacturing firms with the offer of a tax free, Free Trade Zone. With our geographical location and plans for future upgrades to transport infrastructure, we want to make sure we are seen as the number one choice for firms looking to invest in the UK.
We also intend to build on our ambitious plans to extend superfast fibre broadband to make sure every part of our region is online and switched on for ecommerce.
Making it better for people living in the North Midlands
We believe the benefits are significant and include:
- new growth and investment to create more jobs – with additional benefits for supply firms
- tailor made financial support to help small businesses to expand and increase their competitiveness
- 100% access to high-speed fibre broadband for businesses and residents – putting the North Midlands in first place to maximise the benefits from e-commerce.
North Midlands Devolution Deal
The North Midlands Devolution Deal was submitted to Government in December 2015.
The deal sets out ten key benefits devolution would deliver for the residents and businesses of Derbyshire and Nottinghamshire.
What does it mean for you?
Read the stories about how devolution could help to transform people's lives for the better.
The examples are illustrative, using demographic and statistical information. They are not based on real people.
Shabana was born and bred in the North Midlands but had moved near London for work – she’d had a successful career in business. She was looking to start manufacturing and fitting solar panels. Her initial thoughts were to start the business near London with its transport links and a ready supply of staff with the right qualifications.
But then she heard about the new green-tech industrial park that was purpose built by the combined authority. The authority had built links with Derby University, Nottingham University and Nottingham Trent University. This gave Shabana access to the latest technology as well as graduates that had been working on solar energy. On top of this she had a purpose built factory unit with access to the major transport routes and a tax break and green subsides for setting up her business. Shabana now employs nearly 400 people.
Sue had been working part-time since she had her first child but when the kids left home she became full-time carer for her mum who has dementia. She was reliant on benefits but struggled when they were cut. She wanted to get back into full-time work but was worried about her mum and didn’t want to go back cleaning on low-pay.
Sue’s cakes had always been popular with the family and it was her dream to open a café. She sat down her with mum’s social worker who helped arrange care and set up a meeting for Sue with the council’s business support officer. The officer got Sue on a business course for free and then helped her draw up a business plan and find premises. She got a business start-up loan from the council and a grant that she didn’t have to pay back.
Emek’s ambition had always been to open a Latvian restaurant in the region. He had two brothers but he was the only one that helped his mum cook and it was something he’d grown to love. He went to culinary college and had experience working in hotel kitchens. His idea was to open a pub and restaurant – serving Latvian appetizers with every round of drinks to entice people to have a meal.
Emek wanted to open the restaurant in the city centre where he would have more potential customers but he had found business rates and rents too high.
But the new combined authority had cut the business rates to encourage small businesses to grow and put together a package of financial support for Emek. This made it affordable for Emek to compete with some of the bigger restaurant chains. Within 12 months he was employing 25 people and business really took off after 18 months when Emek opened his second restaurant nearby.