A delegation of business and local authority leaders from Derbyshire and Nottinghamshire is heading down to London today to negotiate a groundbreaking devolution deal with Government ministers.

The consortium of representatives from the proposed Combined Authorities in Derbyshire and Nottinghamshire, the D2N2 Local Enterprise Partnership area and prominent local business leaders will meet with Greg Clark MP, Minister for Cities, to discuss how the area can take control of key economic drivers including jobs, skills and transport.

If accepted, the proposed devolution deal has the potential to create 55,000 news jobs and 77,000 affordable new homes, transform the area’s digital and transport infrastructure and lead to the formation of a new £1bn regional business investment bank.

East Midlands Chamber – the Chamber of Commerce for Derbyshire, Nottinghamshire and Leicestershire – coordinated the response from business to several of the initiatives included in the pitch.

Chamber Chief Executive George Cowcher said: “The proposed Devolution Deal for D2N2 is a bold and ambitious pitch from business and local authority partners in Derbyshire and Nottinghamshire which, if accepted by Government, will position this part of the East Midlands as a regional powerhouse capable of competing with the likes of Manchester, Sheffield and Leeds.

“The Chamber has played a role in developing and stating the business case for these proposals and ensuring that any key decisions were taken with the interests of local companies in mind.

“What these proposed measures seek to do is maximise the potential of this area. The East Midlands has got one of the UK’s fastest-growing economies which has largely been driven by the businesses we have here in Derbyshire and Nottinghamshire.

“The deal being pitched for will help to harness and accelerate that growth and in turn, deliver the new jobs, wealth and prosperity that the Government is looking for.”