Growth Deal funding to boost Nottingham
February 02, 2015
Extra £22.2M Growth Deal funding boost for Nottingham and local area
Filed under: Rail
The Derby, Derbyshire, Nottingham and Nottinghamshire (D2N2) Local Enterprise Partnership has gained an expansion to its Growth Deal with the Government which will see an extra £22.2m invested in the area.
Over the lifetime of its Deal (2015-2021) the Local Enterprise Partnership estimates that up to 22,000 new jobs could be created, 10,000 new homes built and that it has the potential to generate £550m public and private investment.
Specifically in Nottingham the additional projects include building an Institute for Advanced Manufacturing at Nottingham University. This will improve the provision of manufacturing research and graduate level skills, as part of a £100m plan.
There will also be investment for the Midland Mainline Market Harborough Improvements scheme, improving the journey time for non-stop passenger and freight train services on the Midland Main Line, the Nottingham Skills Hub and the Nottingham Broadmarsh/Southern Gateway schemes
The Nottingham City Deal previously secured a £25m investment from Government for a venture capital fund that will focus on viable, investment ready growth enterprises. The deal has also enabled the development of the Creative Quarter, encompassing a wide ranging economic stimulus package to support the creation and growth of businesses and the retention and maximisation of talent.
The D2N2 Growth Deal will now see a total of £196.2m invested in the area.