The UK economy grew by 1.9% in 2013, its strongest rate since 2007, according to the Office for National Statistics (ONS).
But growth in gross domestic product (GDP) for the fourth quarter slipped to 0.7%, down from 0.8% in the previous quarter, it said.
Commenting, David Ralph, Chief Executive of D2N2, the Local Enterprise Partnership for Derbyshire and Nottinghamshire, said: “Confidence among business is rising all the time and the economy is showing signs of moving in the right direction, which is healthy and promising news. But there’s still a lot of hard work to do.
“We at D2N2 have a big role to play with our Strategic Economic Plan to be submitted in March and our Growth Deal struck with Government in July, with the goal of helping create 55,000 new jobs by 2023 in our area.
“D2N2 is already making a difference in helping SMEs create jobs locally through investment via our allocation from the Government’s Regional Growth Fund and our Growing Places Fund. We have helped create more than 500 jobs in the Derbyshire and Nottinghamshire area with further applications progressing and more jobs set to be created months as a direct result of this funding.
“MediCity opened its doors in our Enterprise Zone at the end of last year bringing a further economic boost for the area and again demonstrates national policies delivered locally.
“But for D2N2 to be successful in driving economic growth, local businesses and stakeholders must engage with the Local Enterprise Partnership.
“Under the localism agenda, success is in our hands – places know their locations best. Raising aspirations comes best from local champions and best practice and it will be the delivery of local collaboration, energy and excellence which makes the lasting difference.
“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.
“D2N2 is part of the solution in driving economic growth and whilst the economy is continuing to improve, locally it is still under-performing to its potential but we are confident we are making real strides forward and our ambition has to be, and will be, to make sure we are exceeding our potential. But it is moving in the right direction which is positive.”