Derby will receive £3.2 million in Government funding to continue regeneration initiatives across the city over the next year. The allocation comes through the UK Shared Prosperity Fund and will be administered by the East Midlands Combined County Authority.
The funding will support local projects aimed at business growth, urban renewal, and workforce development. Plans include enabling entrepreneurs to establish and expand operations in vacant city-centre units, improving public spaces, and delivering skills and employability programmes for residents.
An additional £300,000 has been earmarked for inward investment, managed by Marketing Derby to attract new businesses and secure capital investment.
A previous programme supported more than 25 projects, offering grants and advisory support to 168 businesses and generating £53 million in capital investment. The associated employment and skills hub helped 125 individuals enter employment or self-employment and enabled 300 residents to obtain new qualifications.
The funding is part of a broader effort to continue economic growth and regeneration in Derby, building on past investments and initiatives to strengthen local business and community infrastructure.
