1.75m Scheme Launched To Attract Businesses Into Derby City Centre

29 Apr 2021

Derby City Council have launched a £1.75 million initiative to encourage more businesses to locate in Derby City Centre.
The scheme will bring high-quality jobs into the city centre, and the council want to work with owners of vacant buildings, to repurpose redundant space for new economic uses, including offices and apartments.

Through the new scheme, the Council recently supported IT company Bam Boom Cloud to move its global headquarters to Derby, bringing almost 100 high-value jobs to the city centre. Now, the authority is making funding available to attract others to follow suit.

The Council is looking to support businesses that will bring at least ten jobs to the city centre, and is able to offer assistance with rent, business rates, training, marketing, parking or office fit-out costs.

For repurposing of buildings, the initiative can fund up to 100 per cent of feasibility studies and up to 50 per cent of capital costs for repurposing, renovation, and conversion.

The authority has just agreed to support Manston Investments with a feasibility study to explore future uses for its empty former Bennett’s building on Iron Gate.

Applications will be considered from businesses proposing to generate employment anywhere within the city boundaries, but weighting will be given to those targeting the city centre and those whose plans will help diversify the high street. The authority aims to allocate its funding by March 2022.

For more details on the scheme and eligibility, please contact economic.growth@derby.gov.uk.

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