D2N2's flagship programme Unlocking Investment for Growth (UI4G) was established to unlock £20m of direct investment for local businesses and therefore support more than 200 jobs.
Businesses that have benefited from IU4G funding are set to create over 400 news jobs whilst safeguarding 350 more. The programme has also inspired business owners in the Derbyshire and Nottinghamshire to invest over £20 million in order to stimulate further growth.
The UI4G programme was designed to help businesses which required a substantial capital investment project to boost growth, but lacked the ability to raise all of the required finance.
In exceptional cases, grants of up to £500,000 were considered. State Aid rules applied and businesses had to be located in the D2N2 area. The process was competitive and applications were rigorously assessed, with priority given to the key sectors.
The £6.8million needed to support the UI4G programme was awarded to the LEP via the Government’s Regional Growth Fund and the European Regional Development Fund to help local businesses grow and create new jobs.
The UI4G fund was managed by EMB Ltd on behalf of D2N2.