A Nottinghamshire building project part-funded by the D2N2 Local Enterprise Partnership (LEP) which will see the creation of 15 new employment units, has now officially started.
The Cotgrave Regeneration scheme is receiving £1.8million funding from the D2N2 LEP and will see 15 industrial units ranging from 750 to 2,000sq.ft built by contractors Wilson Bowden, on a site at Cotgrave, Nottinghamshire by July of this year (2017).
D2N2 is the LEP for the Nottinghamshire and Derbyshire area and works with businesses, local authorities, skills and training providers and community and voluntary organisations to grow its economy, with the aim of creating 55,000 new jobs in ten years (2013-2023). As part of this mission, D2N2 has an allocation of Local Growth Funds (LGF) from Government, which are used for projects in its area to help attract investment, improve infrastructure, and boost business. D2N2’s current LGF allocation has recently been increased by £63m, following an announcement of further LGF funding for Nottinghamshire and Derbyshire last week (March 9).
The £1.8m from D2N2’s LGF allocation is being used alongside £850,000 from Rushcliffe Borough Council, whose 35 industrial units in Cotgrave are already full. When constructed, the 15 new units will be let on flexible lease terms at market rates to local businesses and will help to create up to 50 jobs. Interest from businesses has been positive and six of the 15 units have already been pre-let already.
Cllr Neil Clarke, Leader at Rushcliffe Borough Council said:
“Securing LEP funding and a demonstrable track record in small business units makes this a good commercial investment for the Council and its principal partners, Nottinghamshire County Council and Cotgrave Town Council and is an excellent example of the public sector working proactively with the private sector through the D2N2 Local Enterprise Partnership and Wilson Bowden.”
For more information on the recent announcement of a further £63m in LGF funding for the Nottinghamshire and Derbyshire area, visit http://www.d2n2lep.org/News/63million-cash-boost-for-d2n2-to-accelerate-delivery-of-jobs-and-growth
For more information on D2N2’s Local Growth Fund allocation and to see what else it is being used for, visit http://www.d2n2lep.org/growth/local-growth-fund
For information on the Cotgrave regeneration, visit http://www.rushcliffe.gov.uk/cotgrave
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