Nottingham

Nottingham group launches £50m fund to boost economy

Media captionBusiness leaders from Nottingham have launched a £50m project to bring more investment to the city.

Business leaders from Nottingham have launched a £50m project to bring more investment to the city.

Since the City Deal was signed last year companies have formed the group Nottingham Prospectus and will be in London later.

The event is designed to promote the city's strengths and encourage investors to expand in the city.

Councillor Nick McDonald, said it was "vital to show Nottingham in the best possible light" and attract investment.

Investment 'vital'

Up to £40m of the money will be aimed at businesses looking to relocate or expand and a further £10m will be made available to those developing new ideas in science and technology.

Mr McDonald said: "Generating inward investment is a complex and sometimes slow process so one event doesn't bring you all the investment we need, but we have a very clear strategy to get people to come into the city to relocate here and to invest here.

"It is absolutely vital to show brand Nottingham in the best possible light."

Sean Akins, deputy chair of Invest in Nottingham Club, said the event was about "profile building" and boosting the local economy.

As part of ongoing regeneration in Nottingham £1bn investment has already been committed to developments in the next three years.

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