Infinity Park has been revealed as the new name of a business park in Derby that will create up to 8,000 jobs.
The new identity of the 250-acre commercial park between Chellaston and Sinfin, next to Rolls-Royce’s civil aerospace division, was announced by city leaders at the Derby City Embassy event, which took place in London.
The name replaces the working title of the new development, which was the Global Technology Cluster. Infinity Park, which will cost £200 million to build, aims to repeat the success of Pride Park, which is now full.
The event held at the headquarters of the Institution of Mechanical Engineers (IMechE), with over 100 business leaders from Derby, as well as key investors from the capital, were updated on the progress of the new business park and other developments in the city.
The aim of the night, organised by Derby City Council and Marketing Derby, was to bring together key businesses with the intention of attracting investment.
Infinity Park is a partnership between the council, Harpur Crewe Estate and Rolls-Royce, with Miller Birch and Wilson Bowden acting as joint developers. It will provide 1.5 million sq. ft. of mixed-commercial development – offices, retail, industrial and leisure. It is being partially funded from Derby’s £40 million grant from the Regional Growth Fund and should be in operation by the end of 2014.
Further details about the first building scheduled for the business park – the Innovation Hub – were also revealed. The purpose of the £11.5 million hub will be to provide businesses with the latest information on development and academic research.
It is a joint venture between the universities of Derby, Cranfield and Aston and will work with businesses in the supply chain of Derby’s major engineering manufacturers.
Speaking at the event, city council chief executive Adam Wilkinson highlighted the strategic importance the development will have for Derby and the UK’s hi-tech industries.
He said: “The Government recently confirmed that the kind of investment that Derby is making with Infinity Park is exactly what Britain should be doing – rebalancing the economy towards productive uses.
“With a unique and specialised mix of uses focusing on global technology, research and development, Infinity Park offers something that no other site does.”
Among the guest speakers was Marine Power, head of engineering improvement at Rolls-Royce and Patrick Kniveton, president of IMechE.
Graham Mulholland, managing director of composites firm EPM Technology, addressed the audience, explaining the reasons behind his decision to move his company to Derby.
Last month, Mr Mulholland revealed that the company, which makes carbon-fibre components for telecommunications satellites, F1 cars and aerospace industry, was moving from its base in Draycott to a £6 million factory, in Raynesway, where it is expected to generate more than 80 jobs.
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