Team Derby partnership poised to benefit from £10m capital boost

Derby City Council is set to receive £10 million of capital funding from the East Midlands Combined County Authority pending cabinet approval this week.

The funding, which was awarded to EMCCA on behalf of Team Derby in March, would be cascaded down to the city council as the accountable body, should cabinet agree when it meets on Wednesday.

If approved, the council will work with the Team Derby Board to identify projects in the city to receive investment from this funding.

While the funding is yet to be formally accepted, declining would mean Derby forfeits a significant opportunity to deliver the ambitions of the Team Derby partnership and secure the associated benefits for local communities.

Team Derby brings together local leaders, major businesses, the University of Derby, Marketing Derby and government partners to ensure major investment in the city delivers for local people.

The partnership’s focus is on turning Derby’s strengths in rail, aerospace, nuclear, advanced manufacturing and clean energy into good jobs, better skills opportunities, stronger high streets and visible improvements across the city.

Team Derby aims to position the city as a UK leader for innovation and industry collaboration, particularly across the defence, clean energy and rail sectors.

The initiative will support local people into skilled jobs, strengthen supply chains and ensure investment benefits communities across the city.

Councillor Nadine Peatfield, leader of Derby City Council, said: “Derby is a city bursting with potential.

“Unlocking this funding is something we can only achieve through a collaborative approach with our partners, and Team Derby is central to that.

“It’s fantastic news for Derby. It will enable us to build on our achievements and truly seize opportunities in our city centre, from bringing life back to vacant properties to driving our regeneration vision forward.

“It will also help develop skills for our future workforces, ensuring our communities truly reflect the massive investment that our major industries have attracted.”