East Midlands Investment Zone Ties £3.2 Million to Regional Manufacturing Push

FTZ News: The East Midlands Combined County Authority and its partners have been awarded up to £20 million from the government’s Local Innovation Partnerships Fund.

According to the authority’s announcement, the money is for advanced manufacturing and clean energy work and is expected to be matched by at least £36.1 million from private investors.

The 5-year programme could add as much as £340 million to the regional economy and support up to 1,775 jobs. Partners include the universities of Derby, Nottingham, Nottingham Trent and Loughborough.

The money will support four projects: helping regional firms win more work in the nuclear supply chain; developing new aircraft technologies; helping small and midsize companies enter new markets and expand their supply-chain opportunities; and accelerating the growth of clean-technology firms. The project focused on smaller businesses has also been allocated £3.2 million from the East Midlands Investment Zone.

The projects are still being prepared with UK Research and Innovation. Officials expect them to start in the coming months. The Local Innovation Partnerships Fund is a £500 million national programme.

Mayor Claire Ward said the region had a long history of manufacturing innovation and that the funding would help businesses develop products and processes in clean energy and advanced manufacturing./.