Derby, Derbyshire, Nottingham and Nottinghamshire (D2N2) Local Enterprise Partnership (LEP) has made a call for capital projects in the areas to create a ‘pipeline’ of future investments.
D2N2 is responsible for delivering the Local Growth Fund, worth over £250m, and the Government’s new Getting Building Fund (GBF), of which they have been allocated £44.4m.
The announcement will allow capital projects to be in line for funding, should further funding become available, supporting the LEP’s ambitions from the Local Industry Strategy and help the economic recovery.
By making a reserve list of projects at an advanced stage of development, more large projects will be supported despite the ‘inherent complexities’, to add to the list of projects that have already been invested in.
These include the £24m Institute of Advanced Manufacturing, the NTU Allied Healthcare Provision and Castlewood Urban Village.
D2N2 Interim Chair David Williams said,
“With the recent Getting Building Fund providing £44.4 million pounds worth of investment for ten projects within our area, it’s never been more important for our region to stand ready to attract Government investment whenever the opportunity presents itself.”
“I call upon our community to bring forward strong and ambitious projects that will improve life chances for our residents, providing more jobs, more learning opportunities, and more homes.”
To be considered for the pipeline, projects must have access to Match funding, have set land ownership/development agreements, as well as planning permissions and be able to demonstrate value for money.
Applicants are being invited to complete initial expression of interest forms by 5pm on September 11th.