Business bosses invited to bid for share of £17.8m of funding

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Derbyshire businesses are being invited to bid for a share of a new £17.8 million Government funding pot which aims to bring jobs to the region.

The Government has awarded the money through its Growing Places Fund to the D2N2 Local Economic Partnership – which covers the four council areas of Derbyshire, Derby, Nottingham and Nottinghamshire.

The D2N2 Growing Places Fund money is seen as a ‘growth accelerator’ to kick start projects which might be stalling because of infrastructure or site constraints and it aims to bring jobs, employment space and private investment to the region.

Cllr Kevin Parkinson, Derbyshire County Council Cabinet Member for Regeneration, said: “The award of the Growing Places Fund money is good news for Derbyshire.

“These are challenging economic times and the fund backs our work to help companies overcome obstacles to drive economic growth and bring jobs to the county.”

Individual awards are expected to range from £500,000 to £2.5 million.

They will back capital projects which fit the criteria of generating economic activity and creating jobs.

D2N2 Growing Places Fund money must be repaid from investment returns following development.

And projects which are capable of repaying within three years are encouraged to apply. The fund will then be recycled to support further projects in the region.

Applications must be received by noon on April 27.

They will be considered by the D2N2 board with a decision on successful schemes is expected in June.

Guidance notes and application forms can be downloaded at: www.derbyshire.gov.uk/growingplacesfund

Derbyshire businesses requiring further information should contact Nawaz Khan on 01629 538246 or email regeneration.admin@derbyshire.gov.uk for details.