The D2N2 Local Enterprise Partnership has made implementing the Nottinghamshire Enterprise Zone its priority for the year ahead as it looks to boost economic growth across the region.
The D2N2 Board met to discuss the progress to date on establishing the new Enterprise Zone, along with the LEP’s approach to managing the £17.46m Growing Places funding provisionally allocated to it by Government.
The Zone is a crucial part of the Board’s plans for economic growth and if successful, it will provide income for D2N2 to recycle into investments and projects to further boost the local economy.
D2N2 will not allocate any of its Growing Places funding until it has fully considered the extent of investment needed to bring the Nottinghamshire Enterprise Zone to market. It has commissioned a board-led team, drawing on independent technical advice, to open discussions with Alliance Boots, the land owners for most of the Zone.
D2N2 Chairman Colin Walton said: “Delivering the benefits of the Nottinghamshire Enterprise Zone is a top priority for D2N2. Nottingham is already renowned for its science and technology expertise, with a great history of product innovation.
“The Enterprise Zone is a significant opportunity to enhance that reputation by expanding our pharmaceutical, medical, health and beauty sectors, attracting sustained investment and enabling innovative, high growth local firms to expand their business. It is crucial that it can be established as quickly as possible.”