Blogs - 25 July 2014

Blog: David Ralph – Sources of Growth

The local economy continues to gain momentum and it is very positive to see the progress the economy has made over the space of 12 months. Confidence among business is rising all the time and the economy is showing signs of moving in the right direction but there remains a lot of hard work to do.

This month, EPM: Technology is moving into a bespoke state-of-the-art manufacturing, research and development centre in Raynesway, Derby thanks to funding from the Derby Enterprise Growth Fund (DEGF) to help with expansion plans. The plans will double the existing capacity and will allow the company to double its current workforce of 75, which is a great example of how Regional Growth Fund money is working to grow the economy.

Our own RGF programme, Unlocking Investment for Growth, has created more than 250 jobs with hundreds more in the pipeline in the coming months, with SMEs from all four corners of our patch set to expand their workforce thanks to our help through grant funding.

MediCity opened its doors in our Enterprise Zone at the end of last year and already, 20 companies have moved in to provide a welcome boost, bringing a further economic boost for the area.

We recently secured our Growth Deal with Government and £174.4m over six years from the Local Growth Fund, which will see a number of priority projects start to take shape from next year.

Only by working with businesses, stakeholders and partners and them working with us will we meet those ambitions to secure our key, crucial aims – to make D2N2 a more prosperous, better connected, and increasingly resilient and competitive economy and show just why D2N2 is the UK’s Most Inspirational Postcode.


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