A £3.3million project set to create 38 jobs and safeguard an additional 26 will receive £500,000 funding via the D2N2 Local Enterprise Partnership (LEP).
The Sherwood Energy Village, near Ollerton, Nottinghamshire, is set to benefit from a project which will develop 32,000 square feet of high-quality commercial floor space for business and industrial use.
Funding towards that project, of £500,000, has now been approved by the D2N2 Infrastructure and Investment Board (IIB).
D2N2 is the private sector-led Local Enterprise Partnership (LEP) of business, local authorities, skills and training providers, and community and voluntary services which promotes economic and jobs growth across Derby, Derbyshire, Nottingham and Nottinghamshire.
The IIB approves capital funding from D2N2’s substantial Local Growth Fund allocation, from Government, to jointly invest in infrastructure projects necessary for economic growth (for example, roads, and skills and employment sites).
The £3.3m project at the Sherwood Energy Village – which aims to deliver commercial development in a sustainable, environmentally responsible way in the former coalfields area – is being funded with £2.8m from CRT Property Investments Limited and now £500,000 from D2N2.
Planning permission for the scheme was granted in April 2016. Contractors are expected to start work on-site by the end of this month (September), with the project due to be completed by spring 2018, ready for businesses to move in.
Estimated benefits of the project include:
- 38 jobs created;
- 26 jobs safeguarded;
- creating 32,000 sq ft of high-quality commercial floor space;
- 2 acres of land brought into use.
Tom Goshawk, Capital Projects Manager for the D2N2 LEP, said: “Employment sites are key assets for every successful economy. Businesses need well-developed, high-quality workspaces to produce and market their goods and services efficiently.
“That is why we’re working closely with CRT Property Investments Ltd to unlock this area of Nottinghamshire for our area’s businesses.”
For more information on how the D2N2 LEP is using its Local Growth Fund for projects which benefit its area’s economy, see the D2N2 website at link www.d2n2lep.org/Local-Growth-Fund
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