D2N2, the Local Enterprise Partnership for Derbyshire and Nottinghamshire, have agreed a £554.4 million investment package with government to accelerate economic growth across Derby, Derbyshire, Nottingham and Nottinghamshire.
The joint investment programme secures £174.4 million from the Government’s Local Growth Fund over six years with £47.4 million of funding confirmed for 2015/16. Schemes being funded in Derby include Infinity Park (£14.37 million) and Our City Our River (£12 million).
Through its Strategic Economic Plan, D2N2 set an ambition to deliver 55,000 new private sector jobs over the next 10 years. Peter Richardson, Chairman of D2N2 said: “This growth deal marks the start of an exciting new chapter as we now move from planning to implementation."
The Prime Minister said: “This historic deal means real change for Derbyshire and Nottinghamshire, with plans to attract new businesses to the area, help young people in the region get the skills they need to get on, and ensure the area has the workforce it needs to prosper. By trusting local people, backing business and invest in infrastructure, skills and housing, we can create thousands of new jobs. And that means more economic security, peace of mind and a brighter future for hardworking people across the region.”
David Ralph, Chief Executive of D2N2 Local Enterprise Partnership, said: “We aspire to develop the D2N2 economy as nationally recognised excellence in skills development and innovation in key economic sectors such as planes, trains and automobiles, life sciences and the low carbon economy.”