A major £107 million Local Growth Fund programme designed to boost economic growth, revitalise communities and support businesses across the East Midlands is now moving forward at pace, following formal backing from the region’s Mayor.
The funding package was approved by the East Midlands Combined County Authority’s Investment Committee, with 17 programmes now given the green light to progress towards delivery. The initiative brings together a broad portfolio of schemes spanning Derby, Derbyshire, Nottingham and Nottinghamshire, aligning with long-term ambitions for regional economic development.
A Strategic Framework for Sustainable Growth
The investment plan is structured around five core themes: innovation, thriving places, business growth, skills and connectivity. These are aiming to unlock opportunities for residents while strengthening the resilience of local economies.
Mayor of the East Midlands, Claire Ward, emphasised the importance of a balanced approach to investment across people, places and businesses:
“Growing the economy in all parts of this region needs us to invest in different ways at the same time. Whether it is investing into places, investing into businesses, or investing into people: all of it matters.
“The Government has given this region £107million of Local Growth Fund because we are trusted to decide on how this should look for the entire East Midlands – and I am delighted that EMCCA Board has approved an investment programme that speaks to the sort of region we are.
“These projects will make a real difference in helping our high streets to thrive, enabling business success, and ensuring that more people can shape and benefit from our region’s growth.”
Investing in Places and Communities
More than £18 million has been earmarked to strengthen neighbourhoods and local infrastructure. This includes funding for:
- Thriving Places Fund
- Digital Connectivity initiatives
- Rural Development Fund
- Community Development and Social Investment
- Community Energy programmes
In addition, a £30 million Housing and Regeneration Investment Fund will focus on unlocking housing supply and regeneration opportunities. A further £1.6 million will support efforts to bring empty homes back into use, contributing to tackling homelessness.
Supporting Skills, Jobs and Opportunity
A £17 million allocation will underpin the “Opportunity Escalator” programme, aimed at helping residents into employment and enhancing workforce skills. Key initiatives include:
- Economic Inactivity programmes to re-engage those out of work
- Skills Co-Investment schemes
- Youth Ambition projects to improve pathways into employment
Together, these interventions are expected to strengthen labour market participation and support inclusive growth across the region.
Backing Businesses to Grow and Compete
Business growth remains a central pillar of the programme, with over £21 million committed to supporting enterprises of all sizes. Funding will be directed towards:
- Business Investment Fund
- Scale-Up support
- Local Business Support services
- Export growth initiatives
- Visitor economy development
These measures are designed to improve competitiveness, attract inward investment and enhance the region’s economic profile.
Unlocking Innovation and Future Investment
A further £12.3 million will support innovation-led growth, with a focus on strengthening partnerships between businesses, universities and research institutions. This will help accelerate emerging industries and boost productivity through collaboration.
To ensure a strong pipeline of future projects, a £2 million feasibility fund has also been established. This will provide early-stage support to develop investment-ready proposals, aligned with national standards.
Delivering Long-Term Regional Impact
The Local Growth Fund forms a cornerstone of EMCCA’s Growth Plan for 2026–2030. The wider strategy sets ambitious targets, including:
- 60,000+ additional people in work
- 210,000 more skilled qualifications
- 100,000 new homes
- £13 billion increase in economic output
- 1GW of additional clean community energy generation
Collectively, these outcomes are intended to position the East Midlands as a leading region for sustainable growth, innovation and opportunity.
Image credit: iStock
