East Midlands Mayor Claire Ward has backed a new £700 million government programme aimed at bringing forward major industrial and commercial developments, with the region hoping to secure a share of the investment.
The Strategic Sites Accelerator, announced by Business Secretary Jonathan Reynolds on Monday 2 November, will provide funding and specialist support for up to 10 major development sites across the UK.
The government says the programme could attract up to £2 billion in private investment and support tens of thousands of jobs over time, although the number of jobs created will depend on which sites are selected and whether development proceeds.
The scheme will target commercially viable sites where investment has been delayed by problems such as inadequate infrastructure, difficulties securing finance, electricity grid connections or planning constraints.
Mayor Ward, who leads the East Midlands Combined County Authority (EMCCA), has said she wants to work with the government’s Office for Investment to identify opportunities across the region.
She said: “Sites with strong development potential need flexible support to bring them into productive use. As Mayors, we are always looking for ways to deploy that support in a way that works for our business, places, and economies – and the Strategic Sites Accelerator meets that mark.
“It will help us to bring forward strategic sites, create jobs and support a more resilient, green industrial future. I look forward to working with the Office for Investment to unlock opportunities across the East Midlands Combined County Authority (EMCCA) region.”
EMCCA covers Nottinghamshire and Derbyshire, including Nottingham and Derby, and is responsible for coordinating regional priorities including economic development, transport, investment and skills.
No specific East Midlands development site has been confirmed for funding under the new programme, and the £700 million is a national allocation rather than funding awarded directly to EMCCA.
The Accelerator will concentrate on sites capable of supporting sectors identified in the government’s Industrial Strategy, including advanced manufacturing, digital technology, defence and life sciences.
Support could include loans, equity investment, targeted grants and technical expertise to address obstacles preventing schemes from progressing.
The programme will be delivered through the Office for Investment and the National Wealth Fund, with property consultancy CBRE acting as its national delivery partner.
It will work with investors, developers, local authorities and regional mayors to assess potential projects and determine what financial or technical assistance may be needed.
The government has already begun engaging with potential sites in Glasgow, Burgess Hill and Sheffield, while exploring further investment opportunities in several other regions.
The programme is open to eligible sites throughout the UK, including manufacturing developments, science parks and innovation districts.
No10 North, the government’s northern investment initiative, will work alongside mayors and local authorities to identify priority projects and coordinate potential investment opportunities.
Chancellor John Healey said: “Local leaders know their communities best. Only by trusting them with real power and resources will we see change.
“This £700m package is helping break down the barriers to local growth, so people can feel the benefits of a growing economy and love where they live.”
Business Secretary Jonathan Reynolds said the programme was intended to address longstanding obstacles to investment, including outdated infrastructure, financial constraints and planning difficulties.
He said: “These are barriers that hold back investment, block new jobs, and shackle our potential, and we need to do more to empower our local leaders and help drive the growth their communities deserve and expect.”
The government aims to support between six and 10 sites through the scheme, with individual investments subject to commercial assessments, due diligence and approval.
Applications are now open, with the first investments expected by the end of March 2027.
