10 projects expected to receive share of East Midlands Mayor’s £25m investment fund

Ten schemes are in line for millions of pounds of investment as part of the Mayor of the East Midlands plans to boost growth, create jobs and improve the region.

Funding has been earmarked for a string of projects set to bring real benefits to places and people across the region, by improving town centres, supporting small businesses, creating jobs and helping communities grow in a greener, more sustainable way.

Members of the East Midlands Combined County Authority board this week approved the schemes to enter EMCCA’s £25m Investment Fund pipeline.

Mayor Claire Ward said: “This funding marks another major step forward in our shared ambition to unlock the potential of the East Midlands.

“Inclusive growth is at the heart of everything we do and we’re ensuring the benefits of investment reach every part of our region, from our cities to our towns and villages.

“These projects will help create new opportunities, drive innovation, and support local jobs, all while strengthening the foundations of our communities.”

Investment projects

The projects under consideration for funding are:

• Stapleford Pencil Works (Nottinghamshire) – Construction of a business centre in the heart of Stapleford, housing co-working space, retail units, small offices, and makers spaces/workshops;
• Greening Growth in Giltbrook (Nottinghamshire) – Nine new-starter business units for small and micro-businesses in the area;
• Yorke Drive Housing, Newark (Nottinghamshire) – Redeveloping the existing Yorke Drive housing estate with new mixed tenure homes for sale and rent alongside improvements to sport and leisure, public realm, safety, accessibility, and electric vehicle charging points;
• Sherwood Revival, Ollerton (Nottinghamshire) – Regenerating the town centre with an enhanced and better connected new public sector hub, business units, housing, public realm space, and cinema;
• Becketwell Enabling (Derby) – Enabling works at the third phase of development at Becketwell, a flagship regeneration scheme in Derby city centre and home to a Grainger 260-apartment build-to-rent development and 3,500-capacity Vaillant Live events and conferencing destination;
• Staveley Investment Programme (Derbyshire) – Delivery of the Barrow Hill Memorial Hall which will create community spaces, health provision, and early years activities and contribute to the Staveley Moorings project to deliver the final works to the project and complete the Staveley Basin project;
• Chesterfield Town Centre Masterplan (Derbyshire) – Supporting the delivery of housing in the Spire Neighbourhood alongside spaces for businesses, and further works to the Stephenson Memorial Hall refurbishment project to create a modern visitor experience in the heart of the town, with an extended theatre, a reconfigured modern museum, alongside new gallery space, a café bar, education and community facilities;
• Ashbourne Reborn (Derbyshire) – Improving access to Ashbourne Town Centre, supporting the Ashbourne Reborn Programme through targeted public realm enhancement, safety and drainage solutions, and sustainable transport measures;
• Long Eaton Town Deal (Derbyshire) – Supporting the development of high-quality infrastructure and enhancement of the Long Eaton Town Deal as part of a wider programme of works led by Erewash District Council;
• Clay Cross Town Deal (Derbyshire) – Developing the town centre including new-build public realm, retail space, improved library facilities, and refurbished adult education centre.

Mayor Claire said: “We’re working with partners to build a region that celebrates its heritage while looking confidently to the future. I’m committed to making the East Midlands a place where everyone has the chance to thrive, contribute, and feel proud to call home.”

Board members discussed the proposal at their meeting on Monday 24 November 2025, and each project will now go through final due diligence to secure the funding.

This latest funding round builds on the progress EMCCA is already making in the region, including delivering significant capital investment projects to support the East Midlands Growth Plan.

Successes include:

• South Derbyshire Growth Zone, which was backed by Derbyshire County Council’s cabinet in October;
• Demolition of the Broadmarsh shopping centre in Nottingham which is due to begin later this year;
• Delivering the Infinity Prototyping Centre, a new innovation, research, and development space, at the Infinity Park site in Derby.

Partnership working

EMCCA is also continuing to work with partners to bring forward other projects, with a further round of funding decisions set to be reviewed by EMCCA’s Board in early 2026.

Cllr Neghat Khan, Leader of Nottingham City Council and EMCCA board Portfolio Lead for Investment, said: “As the Portfolio Lead for Investment on EMCCA’s Board, I’m proud that these projects are being funded which will benefit the region so much.

“We have seen locally in Nottingham what a huge difference can be made, for example, the funding Nottingham City Council received to assist with demolition at Broad Marsh which has unlocked regeneration and thousands of future homes.”

Cllr Rob Reaney, Derbyshire County Council Cabinet Member for Economic Development and Regeneration, said: “We’re working in partnership with our district and borough council colleagues on these projects as part of our wider regeneration plans for the whole of the county.

“With the support of funding from EMCCA, they will make a real difference to local residents by boosting businesses, bringing benefits to our local economy and improving spaces within our communities.”

Cllr Nadine Peatfield, Derby City Council Leader and Cabinet Member for City Centre, Regeneration, Strategy and Policy, said: “We wholeheartedly welcome the inclusion of the Becketwell development in the EMCCA Investment Fund Pipeline – a powerful demonstration of confidence in Derby’s future.

“With the success of the Grainger build-to-rent scheme and the incredible Vaillant Live venue already established, Becketwell is clearly delivering on its promise. We will continue working with partners to complete this flagship scheme and transform a key part of our city.”