Martin John Devereux Traynor, chief executive of the Leicestershire Chamber of Commerce, becomes an OBE for services to business and the community.
He chaired a partnership, which lobbied for the £20m regeneration of Loughborough town centre.
People were recognised for services to sport and the fashion industry.
Mr Traynor, who lives in Sileby, Leicestershire, said: "I was very surprised but highly delighted when I heard the news.
"I think the honour is mainly for the success I had between 1995 and 2000, in chairing a partnership which lobbied for the £20m regeneration of Loughborough.
"It saw the pedestrianisation of the town centre and the place is really in fine fettle now."
Dr Azhar Farooqi of East Leicester Medical Practice was also appointed OBE for services to healthcare.
Leicestershire and Rutland's Full honours list
OBE
John Berry, senior manager of HM Prison Service of Countesthorpe, Leicestershire.
Brian Anthony Frank Smith, for charitable services in Bushby.
MBE
Janet Allen for services to the community in Scalford, Leicestershire.
Joseph Donald Benoist, former section manager at En-Route Air Space, Civil Aviation Authority for services to civil aviation.
Kathleen Theresa Braddock for services to the community in Rutland.
Piara Singh Clair for services to the community in Leicester.
Joyce Dakin for services to Victim Support in Leicestershire.
Kim Robert Knowles, executive director of Midlands Fashion Showcase for services to the Fashion Industry.
Carl Rex Owen Lawrence for services to Victim Support in Leicestershire and Rutland.
Marion Vincent for services to the community in Rothley, Leicester.
Gary Wolstenholme, amateur golfer for services to sport.
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