The East Midlands Mayor launches nearly £30m plan to boost local communities and businesses

The East Midlands Combined County Authority (EMCCA) is allocating nearly £30 million, to drive economic growth, infrastructure development, and community projects across Derbyshire and Nottinghamshire over the next year.  

£25.17 million of which comes from the Government’s UK Shared Prosperity Fund (UKSPF), with EMCCA is also putting in an extra £4million from its own Investment Fund to provide even more support for local businesses and communities. 

The bulk of the funding, £24.8 million, will go directly to all 17 local councils, districts and boroughs, to support the region, so they can prioritise this money for their own area and invest it in different initiatives.  

Local authorities have already been putting the UKSPF money to good use, working with local communities to understand their needs and maximise the impact of the funding. This use of local knowledge alongside the Inclusive Growth Commission, which connects regional and national experts, will bring fresh perspectives to drive economic growth across both the cities and rural areas, helping to tackle regional deprivation and develop long-term growth. 

EMCCA will play a key role in managing and overseeing these investments to make sure the money gets the most impact for the area.  

Funding Priorities 

The UKSPF is designed to stimulate local growth and improve living standards by focusing on three key areas: 

• Communities and Place: This funding will help restore green spaces and enhance town centres, so they are thriving and attractive places to visit. The aim is to create a sense of safety and belonging within communities. This funding will also support the work being done to help tackle homelessness and areas of deprivation. 

• Business Support: The funding will support startups, help businesses grow bigger, and drive innovation. This will help to nurture new business and expand existing ones and providing them with advice and support they need to boost the local economy and create jobs, whilst helping to create opportunities for local businesses to thrive. 

• Skills Development: The funding will focus on reducing employment barriers and helping people gain the skills they need to meet the demands of employers. This includes projects to upskill the workforce, providing people with the training they need to enter or progress within the job market. By matching skills with employer needs, this funding seeks to increase employability and improve career prospects for people across the region. 

Together, these initiatives work towards building stronger communities, promoting economic growth, and enhancing workforce development. The overall aim is to create sustainable, thriving areas with engaged residents, while also improving opportunities for business growth and individual success. 

Regional Business Support Initiatives 

To further strengthen the business landscape, EMCCA and its partners will launch several regional programs, investing £2 million   

• to support a regional startup service to establish new business ventures.  

• for a business education workshop program to equip entrepreneurs with essential skills.  

• for an initiative to develop export capabilities in local businesses.  

• for a high-growth support program to help businesses scale operations.  

Additionally, £1 million will be invested in the visitor economy, split between £600,000 for regional campaigns and £400,000 for product development, ensuring the region remains an attractive destination for tourists and investors. 

Mayor of the East Midlands, Claire Ward said: “UKSPF has been an important funding stream for local investment, and I am pleased that it has continued this year while the government plans for its replacement. The £25 million we have received will sustain investment into towns, cities and villages across the region: both the jobs that support community-led services and the physical regeneration of our town and village centres. This will support economic growth but will also ensure that our places can continue to attract visitors and investment in their own right.

“These local investment priorities are important to me and the EMCCA Board – so much so that we have agreed to investing an additional £4 million.”