The government has agreed plans to create a new enterprise zone in Leicestershire, creating tens of thousands of new jobs.
The zone, the second in the county, will create an incentive for national and global businesses to invest here.
It is expected to create 6,500 jobs in ten years, rising to 21,000 jobs and £123m into the local economy over 25 years.
The enterprise zone will be based across three sites in Leicester and Loughborough.
The first site will see new buildings spring up on an 80 hectre site at Loughborough University. This site will specialise in advanced engineering and manufacturing, energy and low carbon technology.
The second site will be based at the Charnwood campus, focusing on life sciences and biomedicines.
The third site will be in Leicester’s Waterside, adjacent to the proposed National Space Park, specialising in space technologies and research.
Leicester’s first enterprise zone opened five years ago in Hinckley. So far, this has attracted 33 companies and over 500 jobs.
Councillors believe with it’s close location to the M1, the new enterprise zone has the potential to do even better.