£107m investment plan set to drive growth and opportunity across the East Midlands
A £107m investment programme approved on Monday, 29th June 2026, will support business growth, skills development and thriving communities across Derbyshire, including Chesterfield.
A major £107 million Local Growth Fund programme is moving forward, marking a significant step in strengthening the East Midlands economy and creating new opportunities for people and businesses across the region.
Backed by the East Midlands Combined County Authority (EMCCA) Investment Committee, 17 programmes have now been endorsed to progress towards delivery. The funding will support a wide range of initiatives designed to drive long-term economic growth across Derby, Derbyshire, Nottingham and Nottinghamshire.
For Chesterfield, the programme presents a strong opportunity to unlock further investment, support local businesses and strengthen the town’s role as a key economic centre within Derbyshire.
Driving investment into places and communities
More than £18m has been allocated to programmes focused on creating thriving places, including town centre regeneration, rural development and improved digital connectivity. Community-led energy initiatives and social investment projects will also play a key role in strengthening local neighbourhoods.
In addition, a £30m Housing and Regeneration Investment Fund will support the delivery of new homes and revitalise communities, alongside a £1.6m programme aimed at bringing empty homes back into use and tackling homelessness.
These initiatives will help ensure that places like Chesterfield continue to evolve as attractive, well-connected locations for residents, businesses and investors.
Supporting skills and unlocking opportunity
A further £17m will be invested in the ‘Opportunity Escalator’ programme, which focuses on helping people into work, improving skills and supporting employers to develop their workforce.
This includes targeted support through economic inactivity, skills co-investment and youth ambition programmes. Together, these initiatives aim to strengthen employment pathways and ensure businesses across Derbyshire have access to a skilled and future-ready workforce.
Backing businesses to grow
Business growth is a central pillar of the programme, with more than £21m allocated to initiatives that will help firms scale, export and compete.
Funding will be delivered through a range of programmes, including the Business Investment Fund, Scale Up, Local Business Support and Visitor Economy initiatives. These are designed to provide tailored support to businesses of all sizes, helping to unlock investment and drive economic resilience.
For Chesterfield-based businesses, this investment offers new opportunities to access funding, expand operations and reach new markets.
Boosting innovation and future industries
A further £12.3m will support innovation and cluster development, fostering collaboration between businesses, universities and research organisations. This will help accelerate growth in priority sectors and ensure the region remains competitive in emerging industries.
Alongside this, a £2m feasibility fund will help bring forward new ideas and ensure projects are investment-ready, supporting a pipeline of future developments.
A long-term vision for growth
Mayor of the East Midlands, Claire Ward, said:
“Growing the economy in all parts of this region needs us to invest in different ways at the same time. Whether it is investing into places, investing into businesses, or investing into people: all of it matters.
These projects will make a real difference in helping our high streets to thrive, enabling business success, and ensuring that more people can shape and benefit from our region’s growth.”
The Local Growth Fund forms a central part of EMCCA’s Growth Plan for 2026–2030, which aims to support 60,000 more people into work, deliver 100,000 new homes and add £13 billion to the regional economy.
For Chesterfield, this investment reinforces its position as a key location for growth, offering new opportunities for businesses, residents and investors to benefit from a stronger, more inclusive regional economy.
Find out more about business support in Chesterfield: www.chesterfield.co.uk/business/business-support/
