Five local authorities in the East Midlands have joined forces to deliver 10,000 homes and 84,000 new jobs for the region.
EM DevCo is backed by Leicestershire and Nottinghamshire county councils, North West Leicestershire District Council and Broxtowe and Rushcliffe borough councils.
The group has appointed Richard Carr (pictured) as managing director and is recruiting a team of planning and economic specialists and private sector board members.
Carr is the former chief executive of Central Bedfordshire Council and has been CEO for a number of city and district councils.
The corporation aims to accelerate development on three major sites around the East Midlands Airport, Toton and Chetwynd and land around Ratcliffe-on-Soar Power Station.
The EM DevCo will develop plans for the wider regions and work to secure funding for development.
Carr said: “Our aim is to work with partners, plan carefully and comprehensively, and drive the long-term potential of the three sites in a way which means they can deliver more homes, more business and industrial space and better transport connectivity.”
He said development would take advantage of “clean technologies, new ways of manufacturing, and the region’s status as a global gateway for trade”.
Midlands Engine chairman Sir John Peace said: “Upping the pace of regional economic growth is critically important as the UK emerges from Covid and we seek to make the most of the technologies of the future.”
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