Nottingham city council is to launch its £50m Nottingham Prospectus this week in a bid to attract large-scale inward investment.
The Prospectus forms part of Nottingham council’s ambitious growth plan and offers a mix of incentive schemes and private sector funding to businesses considering investing or expanding into the East Midlands city.
Incentive packages include the £40m Nottingham Investment Fund – aimed at established or early-stage growth companies investing sums of £500,000 to £5m – and the Nottingham Technology Grant Fund, a £10m fund aimed at life sciences, digital content and clean technology companies focusing on the exploitation of intellectual property; development of new technologies; and capital investment in equipment or infrastructure.
Minister for cities and financial secretary to the Treasury, Greg Clark, said: “Since the City Deal was signed last year, the collaboration between public and private sector partners to promote Nottingham has been hugely encouraging and is starting to deliver real change. The Nottingham Prospectus is a great outcome and shows how City Deals are acting as a catalyst for change and innovation, and, in turn, helping to deliver Nottingham’s ambitious plans for the future.”
The City Deals are a programme of decentralisation of power and resources from Whitehall to England’s biggest cities. In July last year Nottingham won its City Deal, which aims to pump £60m in to the local economy.
lisa.pilkington@estatesgazette.com
