D2N2 LEP allocated £44.4m in Government ‘New Deal’ plan
The D2N2 Local Enterprise Partnership (LEP), covering Derby, Derbyshire, Nottingham and Nottinghamshire, has received a £44.4 million cash boost from the government to fund projects that will help the local economy and create jobs.
The ‘New Deal’ announcement is part of a comprehensive plan by government to deliver upgrades to local infrastructure and boost skills in a move to fuel economic recovery across the whole of the UK.
Answering a national call from Government, D2N2, together with partners from across the region, put forward a long list of compelling and innovative projects to deliver growth and continue to develop the talent, ideas, and facilities in the region.
These projects will now be evaluated by government to identify which will receive funding and deliver the most value in terms of restarting the local economy and meeting the future challenges of levelling up the UK. Successful projects will need to demonstrate they meet LEP key priorities and can be completed by the end of 2021.
David Williams, Interim Chair of D2N2, said: “We very much welcome the announcement by government. This will provide a major stimulus for our cities, towns and communities.”
“We believe the size of the allocation demonstrates a belief in what the D2N2 Local Enterprise Partnership can deliver and a testament to the collaborative working between the LEP and its partners.”
“We will continue to work with partners as we begin negotiations with the government to determine which projects will receive funding based on their ability to accelerate growth and create employment.”
“As we reshape our Local Industrial Strategy to reflect the impact of the Covid-19 pandemic it’s essential we remain flexible to support our communities, that we adapt to new opportunities, and build an economy that it is more resilient in the long term.”
“We will continue to work with government on future funding for investments to support our ambitions for the region.”
This fast-tracking of investment, totalling £11 million, will help kick-start activity in towns and high streets across the East Midlands, ensuring local people can see and feel the benefit as soon as possible.
The investment will support economic recovery as a result of the Covid-19 pandemic and will be used to improve digital infrastructure; support skills and career opportunities; and the transition to a low carbon economy.
