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New rail innovation centre drives growth in Staveley
The construction of the Derbyshire Rail Industry Innovation Vehicle (DRIIVe) centre is progressing rapidly at Barrow Hill, set to become a hub for rail innovation and training.
Located next to the iconic Barrow Hill Roundhouse, the project is a crucial part of the Staveley Town Deal and aims to provide a variety of facilities, including classroom spaces, research and development areas, a digital lab, and commercial workshops.
The steel frame is now in place, marking a key milestone, with the external cladding set to follow. The centre will focus on rail sector training, offering education ranging from level two through to postgraduate research. It will also support specialist rail-related businesses, providing them access to cutting-edge research and technology.
Funded by the Staveley Town Deal, Chesterfield Borough Council, the East Midlands Combined County Authority, and the UK Shared Prosperity Fund, the project is being developed by Stepnell, with ongoing efforts to engage the local community through employment opportunities and local spending.
Once operational, DRIIVe will not only provide essential skills training to local workers but also play a pivotal role in attracting new businesses, particularly in advanced manufacturing and clean technology. This aligns with the broader ambitions of the Hartington-Staveley East Midlands Investment Zone, which aims to foster growth in innovative sectors.
Councillor Tricia Gilby, leader of Chesterfield Borough Council and vice chair of the Staveley Town Deal Board, said: “It is fantastic to see this project coming together so quickly. DRIIVe will help grow our local economy by providing local people with the skills they need to access great careers in the rail sector and will help cement our borough’s position in the sector by attracting new businesses to the area. “Not only is it a key part of the Staveley Town Deal programme but it is a key development that will support the nearby Hartington-Staveley East Midlands Investment Zone site – providing crucial facilities that will drive growth in new sectors and benefit future generations.” Tom Sewell, regional director at Stepnell, said: “Following the completion of the foundations for the DRIIVe project, we’re progressing on schedule with the steel frame now taking shape – a key milestone as the centre begins to come to life. “As we move toward the installation of external cladding, we’re actively engaging with the community to ensure alignment with the ambitions of the Staveley Town Deal and Chesterfield Borough Council. We’re committed to delivering meaningful opportunities for local people throughout the build, through targeted local spend and support for employability.”From crickets to clicks: the multimedia press release advantage – by Greg Simpson, founder of Press For Attention PR
Mansfield businesses and communities benefit from Shared Prosperity Fund
The UK Shared Prosperity Fund (UKSPF) has provided a significant boost to businesses and communities in Mansfield, supporting local development and regeneration. A recent evaluation of the district’s 2022-25 UKSPF programme revealed that over 7,000 individuals were engaged in community activities, and 98 businesses, including 17 start-ups, received funding.
The £2.96 million scheme, which concluded in March, has resulted in the creation of 28 new jobs, and the East Midlands Combined County Authority has allocated an additional £1.5 million for ongoing community regeneration and business support efforts.
The programme, aligned with Mansfield District Council’s “Making Mansfield: Towards 2030” strategy, focused on three key priorities: community development, business support, and skills enhancement. It exceeded its targets for employment and health-related support, delivering 343% more job placements and 370% more health-related employment assistance than initially projected.
Several local projects, such as Switch Up Mansfield and Volunteer It Yourself, have contributed to regeneration, providing essential services to vulnerable groups and fostering community pride.
Despite its success, the evaluation raised concerns about the short-term nature of the funding, recommending more sustainable, long-term solutions for business and skills support.
Mansfield’s future growth will continue to benefit from these strategic investments, strengthening the region’s workforce and business landscape.
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Peers urge UK regulator to shorten car finance compensation period
The UK’s financial regulator has come under pressure from members of the House of Lords to reconsider the length of time covered by its proposed compensation scheme for mis-sold car finance. The Financial Conduct Authority (FCA) had planned to cover loans dating back to 2007, but concerns have been raised about the practical challenges of processing such long periods of records.
Lord Michael Forsyth, chair of the House of Lords’ financial regulation committee, suggested that the redress scheme should be aligned with the six-year limit for claims under the 1974 Consumer Credit Act, rather than extending it over 18 years. This change, he argued, would simplify the process for both consumers and firms.
The FCA had estimated the scheme could cost lenders between £9bn and £18bn, a projection based on models used to calculate the extent of mis-selling, particularly through commissions paid to motor dealerships. The scandal revolves around these commissions, which resulted in higher interest rates for customers and were not sufficiently disclosed.