Members of Derby City Council’s Cabinet are being recommended to present a full business case to D2N2 LEP to secure funding for the development of an exciting new food production campus, which could bring 5,000 jobs to Derby.
The D2N2 Local Enterprise Partnership has already allocated a provisional £12 million towards the project from the Government’s Getting Building Fund – the largest single allocation of D2N2’s £44m share of the fund.
The Council’s Cabinet is being asked to agree a package of support and agree to provide up to £5.5 million in direct support from the local authority. SmartParc wants to create the innovative £300 million food manufacturing and distribution park on the former Celanese site, near the city centre.
SmartParc’s revolutionary approach will bring food producers together to cluster knowledge and investment – reducing food waste, lowering carbon outputs, and increasing UK food security.
The campus would include a shared power plant, using renewable sources and designed to reduce energy consumption, and would harness the latest technology, such as vertical farming, to improve production and efficiency.
A report to the Council’s Cabinet meeting on Wednesday 10th March says the development has the potential to create up to 5,000 jobs and boost the local economy by between £250 million and £300 million over ten years.