2 Sisters Food Group has committed to a multi-million pound investment of the former S&A Foods site and has already invested in a state-of-the-art new manufacturing facility on the site, purchasing leading edge technology and equipment. Following DEGF funding, the company has created at least 500 new jobs in the city
DEGF was established as a £20 million recirculating grant and loan scheme, following a successful bid into the Regional Growth Fund.
Councillor Martin Rawson, Derby City Council Deputy Leader, said: "“Our funding scheme is one of the most successful of its type in the country.
"In this case, we have been able to maximise the opportunity created by the purchase of the failing factory. Supporting 2 Sisters to invest in the site has stimulated sustainable job creation."
DEGF is now entering a new phase with the distribution of £12 million of recycled loan funding. Applications are invited from businesses with plans for growth and job creation in Derby and Derbyshire.
To find out more about DEGF, please click here.