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This historic deal empowers local leaders to level up Derby, Derbyshire, Nottingham, and Nottinghamshire (the East Midlands devolution area), and to unleash the area鈥檚 economic potential. Subject to the statutory process, they will form the first Mayoral Combined County Authority (MCCA) 鈥� a new devolution deal model that will be introduced through the Levelling-Up and Regeneration Bill. The aim is for the first mayoral election to be held in May 2024.

This deal ensures that over 2.2 million people across the East Midlands deal area will have a directly elected mayor to provide dynamic leadership and to take the decisions which matter for their region, on transport, skills, and housing, with a new long-term investment fund totalling 拢1.14 billion over 30 years. This deal also includes over 拢17 million funding to support brownfield development, and further investment (subject to business cases) of 拢18 million in this spending round period to support local housing and Net Zero priorities.