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The SCR Chambers: East Midlands


East Midlands Chamber (Derbyshire, Nottinghamshire, Leicestershire)


T: 0333 320 0333 E: info@emc-dnl.co.uk W: www.emc-dnl.co.uk Twitter: @EMChamberNews


The Chamber is the largest business representation organisation in the East Midlands. With a growing membership of more than 4,300 businesses, it represents the interests of businesses across Derbyshire, Nottinghamshire and Leicestershire.


Landmark sites could drive regional recovery


landmark sites could together deliver tens of thousands of new jobs and drive a futuristic recovery from the pandemic. They show how three major zones – covering


A


areas around East Midlands Airport, the HS2 station at Toton, and Ratcliffe-on-Soar Power Station – might be transformed by major development that would boost growth to levels which drive large- scale job creation and unlock a new era of “green” growth for the regional economy. Artist impressions have been released as the


region takes a decisive step towards setting up the organisation that will help drive the vision’s progress – after Chancellor Rishi Sunak backed the region’s bid to host a trade-boosting inland freeport. The five councils covered by the three zones


have come together to fund an interim body, which will begin the work of the planned East


new vision for the long-term future of the East Midlands economy has been revealed – with images showing how


Midlands Development Corporation before Parliament formally approves what will be a pioneering new model for upping the pace of regional growth. The interim body will help masterplan and


enable development, working with businesses, investors and universities to help get projects off the ground. It has now submitted a business case to


Government, outlining what investment in the sites could deliver for the region – 84,000 jobs, more than £4.8bn in added value, and thousands of new homes. Midlands Engine Chairman Sir John Peace –


one of the region’s most senior business figures – has chaired the group that led development of the new body. He said: “What we have in front of us is one of


the biggest opportunities the UK has ever seen to not just build on the potential of some major economic assets, but to transform the economy of an entire region in the process.”


Chris Hobson, Director of Policy and External Affairs


QES shows business


confidence at a high Confidence among East Midlands businesses is at its highest since before the last general election, according to new data compiled by the Chamber. The latest Quarterly Economic Survey for


Q1 2021 showed a net 53% of businesses expect their turnover to improve over the coming year, with a third (net 35%) anticipating a rise in profits. It was the most comprehensive Chamber


survey yet, with responses from a record 540 businesses between 15 February and 8 March. Chris Hobson, Director of Policy and


External Affairs at the Chamber, said: “Sentiment among businesses is as strong as it has been since summer 2019, supported by the successful rollout programme, a roadmap for reopening the economy and a broadly positive response to the spring budget.” Investment intentions are on the up, with


Artist's impression of development around the Toton hub station


Ratcliffe-on-Soar Power Station is earmarked for redevelopment for green energy use


a net seven per cent and 15% planning increased spend in people and equipment respectively as they look to repoint their business to succeed in a post-pandemic world. Recruitment expectations are also strong, with 30% expecting a growth headcount, versus only seven per cent anticipating reductions. Despite these positive signs, cashflow – which worsened for the majority of firms in each quarter of 2020 – remains a problem for a significant number of businesses, with a net 14% reporting this to be down once again in Q1. And while UK activity is recovering well,


overseas activity continues to trail behind with a net nine per cent reporting a decline in sales over the quarter.


Development around Toton and Chetwynd The airport site Spring 2021 CHAMBERconnect 43


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