A new report by business consultants Carney Green has revealed various core achievements which have been made from Bondholder Derby City Council's Regional Growth Fund (RGF) in its mid-term evaluation.
One of the most prominent findings in the report was that over 800 new jobs have been created as a result of 135 businesses receiving grants and loans totalling over £23 million.
Additional achievements include:
- access road and other key infrastructure completed for the 100-acre Infinity Park development;
- construction of a 2.4km access road which ensures Infinity Park Derby is 'investment ready' and expected benefits include accommodating up to 8,000 jobs;
- construction of the iHub - a flagship facility within Infinity Park;
- £4.5 million improvements to the Railway Technical Centre (RTC) Business Park — ensuring the facility was retained within Derby;
- 46 businesses provided with funding and business support through Bondholder Enscite, creating 35 jobs.
Councillor Ranjit Banwait, Leader of Derby City Council, said: "I am delighted to see the report pulls out our key successes such as the creation of over 800 new jobs, more than 130 businesses supported, 5 new businesses attracted to Derby, £18.6m of private sector funding secured and £13.7m of profits generated as a result of investment from the Regional Growth Fund (RGF)."
He continued: "Our collaboration and engagement with existing businesses across Derby has led to investment focusing on local needs, leading to clear and unequivocal gains for Derby."