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Economic Development

Call made for capital projects in Derbyshire and Nottinghamshire which need cash injection

D2N2 LEP wants to build up a pipeline of projects which could benefit from future government funding

The University of Nottingham鈥檚 new Institute of Advanced Manufacturing is just one of many schemes to have benefited from Local Growth Fund cash(Image: University of Nottingham)

A call has been made for new capital projects across Derbyshire and Nottinghamshire which need a cash to help them get off the ground.

D2N2 Local Enterprise Partnership, which supports economic growth and job creation across Derby, Derbyshire, Nottingham and Nottinghamshire, wants to create a pipeline of future investment propositions.

According to D2N2, these will support its ambitions set out in the emerging Local Industrial Strategy and will aid the region’s economic recovery from Covid-19.

Like all Local Enterprise Partnerships, D2N2 is responsible for delivering the Local Growth Fund, which is worth more than £250 million to the region.

It is also responsible for the new £44.4 million Getting Building Fund allocation announced by the Government last week.

An artist's impression of the proposed SmartParc food research campus proposed for Derby(Image: Derby City Council)

This cash will be used to help fund 10 projects across Derbyshire and Nottinghamshire, which collectively have the potential to create 5,000 jobs.

Among the projects is a proposed £300 million high-tech food manufacturing research hub in Derby, called SmartParc.

Funding from the Local Growth Fund has already been invested in several projects across the region, supporting job creation, new learners, and unlocking infrastructure for the delivery of new homes.