D2N2 – the Local Enterprise Partnership for Derby, Derbyshire, Nottingham and Nottinghamshire – has started consultation on the best way to utilise its allocation of EU Funding.
The launch of a new European Programme period, with financial allocations of 249.7 million euros (£213.4m) for D2N2 to the end of 2020, will make an important contribution to realising the growth aspirations of the area.
Given the importance of these funds, the D2N2 LEP is taking a wide-ranging approach to consulting with partners from across the area to ensure that the planned use of the funding meets its growth ambitions, exploits its assets and addresses the challenges faced by the region.
An online document and survey is now available at www.d2n2lep.org/EUFunding as part of the consultation process, with a draft EU Investment Strategy due to be submitted to Government by Monday, October 7, 2013 with the final version signed off in January 2014.
D2N2 Chief Executive David Ralph said: “This is the start of a consultation on a basis of a notional allocation and it is important to make the strongest possible case for the area, as these funds will be some of the fuel in the tank to drive forward our Strategy for Growth.
“This is a real chance for partners to have their say on the Investment Strategy and influence how our EU Funding is spent to make a positive impact on what happens in the D2N2 area.
“I would encourage interested parties to promote smart, sustainable and inclusive growth by taking a look at and completing our survey. All the feedback will be collated and used to help form our EU Investment Strategy which will be submitted to the UK Government.”
The European Regional Development Fund, the European Social Fund and part of the European Agricultural Fund for Rural Development (EAFRD) will be allocated to Local Enterprise Partnerships (LEP) areas for a full seven-year period through a new decentralised EU Growth Programme, from 2014 to 2020.
The Rt Hon Dr Vince Cable MP, the Minister for the Department of Business, Innovation and Skills, said: “The Government has given a commitment that the Growth Programme Funds will be allocated to Local Enterprise Partnership areas as an important new source of finance to stimulate local growth and jobs.
“LEPs and local partners will be in charge of European Funds that will provide significant investment in innovation, business, skills and employment in a common agenda for growth and jobs that will integrate effectively with wider LEP Strategic Plans.”
All allocations are subject to final agreement on the EU regulations and the EU 2014 to 2020 Budget in the European Parliament. The European Commission will also need to agree the UK Government’s specific proposals.