The D2N2 Local Enterprise Partnership today agreed an historic Growth Deal with the Government which will see £174.4million invested in D2N2. £47.4million has been confirmed in the first year, and as part of the Government’s on-going commitment to the D2N2 LEP it has provided an indicative award of a further £127million of funding from 2016/17 onwards. The projects which start in 2015/16 will help to create up to 18,000 jobs, allow up to 8,000 homes to be built and generate up to £380 million in public and private investment.

The key features of the deal are:

Infinity Park, Derby – The Deal will see the construction of this important new business park, with brand new buildings attract new firms to the area and to make local businesses more attractive.

Bioscience Expansion, Nottingham - the development of more space next to Biocity to accommodate a growing and successful firm and allow space for new start-ups – and more local jobs.

Nottingham Skills Hub – The Skills Hub will provide a new College building in the heart of Nottingham’s Creative Quarter, with new places based around the city where people can go for advice on getting the skills they need to take advantage of the opportunities in the city. The Hub will bring together all of colleges in Nottingham with employers looking for new workers.

Newark Southern Link Road - a new single carriageway road which will directly allow a major housing development on the south side of Newark.

Chesterfield Centre for Higher Level Skills - this centre will mean local people can access skills and learning, either higher education or equivalent vocational qualifications, in a new building in Chesterfield. Crucially, as part of this scheme business owners will be able to recruit the skilled people they need to grow their firms.

The D2N2 Growth Deal is part of a £12 billion long-term programme to revitalise local economies. The deals are the latest and greatest example of the British economy being rebuilt from the bottom up, and sharing the benefits of the recovery around the country. Local businesses and council leaders have been invited to open discussions immediately on the next set of projects to be funded, building on the momentum that has been established.

The Prime Minister said: “Growth Deals are a crucial part of our long-term plan to secure Britain’s future.

“For too long our economy has been too London-focused and too centralised. Growth Deals will help change all that. They are about firing up our great towns and cities, boosting local economies and driving growth across the country.

“This historic deal means real change for Derbyshire and Nottinghamshire, with plans to attract new businesses to the area, help young people in the region get the skills they need to get on, and ensure the area has the workforce it needs to prosper.

“By trusting local people, backing business and investing in infrastructure, skills and housing, we can create thousands of new jobs. And that means more economic security, peace of mind and a brighter future for hardworking people across the region.”

The Deputy Prime Minister said: The Deputy Prime Minister said: “The D2N2 Growth Deal will help to create thousands of jobs, provide incredible new training opportunities for young people, allow thousands of new homes to be built, and improve transport links across the region for people and their families; building a stronger economy and a fairer society.

“We’re placing the power and money in the hands of people in Derbyshire and Nottinghamshire who know how to spend it best, making a real difference to local communities.”

Peter Richardson, Chairman of D2N2, said: “D2N2 has risen to the challenge of not only delivering our Strategic Economic Plan but also a range of important local interventions, which have culminated in the Growth Deal with Government that now sets the pathway to sustainable economic growth across the D2N2 area over the next ten years.

“D2N2 is the UK’s Most Inspirational Postcode and this Growth Deal marks the start of an exciting new chapter as we now look to move from planning to implementation. We are absolutely committed to positioning this area to compete in the global economy and secure our goal of helping create 55,000 private sector jobs by 2023.

“We are working to deliver a transformative economic impact, accelerating private sector employment and the supply of new homes, raising skills, increasing our business base and ensuring that the benefits of growth are shared across all communities.”

Colin Smith CBE, Director – Engineering & Technology, Rolls-Royce plc, said: “Innovation is the lifeblood of our business which together with the skills of our employees is crucial to our success. The focus of the Local Enterprise Partnership’s strategy on business-led growth and innovation, infrastructure investment and raising the standards of local skills aligns with our objectives and is welcomed by Rolls-Royce.”

Tony Walker, Managing Director, Toyota UK, said: “A significant portion of Toyota’s European supply chain is already based in the UK and with the current growth of UK vehicle production there is a significant opportunity to attract new suppliers into the region. To do this the region needs good infrastructure, effective growth strategies and good understanding between business and local government. All of these are being further developed by the D2N2 LEP.”

Jim Harrison, Managing Director, Thornbridge Brewery and Chair of Business Peak District, said: “There are many barriers to growth, but the Peak has a great

track record in producing a multitude of small but highly successful businesses - D2N2 understands and recognises this and has listened to the aspirations of the rural community.”

Lyndon Sanders, Director and General Manager FAR Composites, said: “For a growing CleanTech business the area is an ideal base as Nottingham University is a World authority on carbon fibre and that gives us access to leading thinkers, highly skilled workers and technology development opportunities that make this an excellent place for advanced composites design and manufacture. Direct trains to London and East Midlands Airport plus the impact of the Web mean that we can reach customers anywhere in the world with the technology we are developing.”

FACTSHEET

1. How much is the Government investing in D2N2 as part of the Growth Deal?

2015/16(all funding awarded)

2016 and beyond(initial commitments)*

Total Deal

Local Growth Fund

£47.4million £127million* £174.4million

* Discussions will open right away on future funding awards

2. What is included in the Deal?

Infinity Park, Derby – The Deal will see the construction of this important new business park, with brand new buildings attract new firms to the area and to make local businesses more attractive.

Bioscience Expansion, Nottingham - the development of more space next to Biocity to accommodate a growing and successful firm and allow space for new start-ups – and more local jobs

Nottingham Skills Hub – The Skills Hub will provide a new College building in the heart of Nottingham’s Creative Quarter, with new places based around the city where people can go for advice on getting the skills they need to take advantage of the opportunities in the city. The Hub will bring together all of colleges in Nottingham with employers looking for

An extension of the Enterprise Zone from Nottingham to Derby – allowing businesses to benefit from a range of incentives around planning and business rate discounts and further developing Infinity park, Derby.

Newark Southern Link Road - a new single carriageway road which will directly allow a major housing development on the south side of Newark.

Chesterfield Centre for Higher Level Skills - this centre will mean local people can access skills and learning, either higher education or equivalent vocational qualifications in a new building in Chesterfield. Crucially, as part of this scheme business owners will be able to recruit the skilled people they need to grow their firms.

Nottingham Broadmarsh / Southern Gateway - new roads to allow new homes and businesses to be built on the southern side of city centre, including the renovation of Broadmarsh shopping centre and improved road connections to the station.

Vision University Centre, Mansfield - The Vision University Centre will be a new building for teaching and learning with state of the art facilities to support local

people gain higher level vocational skills. Creating opportunities to access higher level skills locally will support increased progression among young people and ensure employers can access the higher level skills they need.

At Penniment Farm, Government will provide loan funding through the Local Growth Fund to accelerate the delivery of 430 homes on site.

Harworth access road - junction improvements to link to new housing and businesses:• A614/ Bawtry Rd/Bawtry Rd• Blyth Rd/Tickhill/Main St• A1/A614 junction

D2N2 Sustainable Travel programme – funding for schemes to promote more cycling in Nottingham and Derby, including the Cycle Ambition Package in Nottingham and Cycle City (Connected and Placemaking) projects in Derby.

Our City Our River, Derby -Flood Defences that allow more homes and businesses to be built, and defend those already in place.

A new University Enterprise Zone in Nottingham which will allow businesses and the University interact more easily and develop innovative products.

Central Government has agreed provisional allocations to the following projects starting in 16/17 and beyond:

The A61 corridor, Chesterfield- This will enable the development of land to deliver homes along the A61 corridor and thousands more across North Eastern Derbyshire.

The Enterprise Zone Sustainable Transport package- Connecting the new jobs at the Enterprise Zone with the rest of Nottingham

Rolls Royce Hucknall development- A major new project, which will lead to thousands of new homes and space for businesses.

D2N2 Sustainable Travel Programme – various transport projects that will improve cycle routes and support new transport routes.

3. How does this benefit the people of D2N2?

The D2N2 Growth Deal will build on the area’s clear strengths by investing in a number of major projects in the LEP’s priority sectors - including advanced transport engineering and life sciences. The D2N2 LEP brings together the core city of Nottingham and the key city of Derby with the counties of Nottinghamshire and Derbyshire – home to vibrant market towns and large numbers of businesses. This Growth Deal offers opportunities to both cities and counties, with a range of projects to support growth covering priorities including transport, skills, flooding and innovation.

According to estimates by the LEP, the Growth Deal will bring to D2N2:

• Up to 18,000 jobs

• Up to 8,000 homes

• Up to £380m into the Nottinghamshire & Derbyshire economy from public and private investment

4. What is the benefit for local businesses?

As well as much-needed road improvements, small businesses in D2N2 will benefit from a new Growth Hub in with specialist advice on how they can grow and access the markets and government support they need. In addition, to support the delivery of broadband across the area, funding will be committed to a broadband programme. The Deal will also boost small and medium enterprises (SMEs) take up of broadband vouchers under the Superconnected Cities programme in Derby.

5. Facts and figures

The Growth Deal builds on significant recent investment in growth opportunities in D2N2 including:

Growing Places Fund total allocation: £26.3m

City Deal: As a result of the City Deal, Nottingham now has a £40m venture capital fund and a £2m ‘Generation Y’ pilot to encourage young graduates to become entrepreneurs. Furthermore, the Creative Quarter has become an incubator to attract high tech businesses and entrepreneurs.

Enterprise Zone funding: £12.5m