Welcome

The East Midlands Urban Development Fund (the Fund) is open for business and will support, across the East Midlands region, the development of commercial property focused around innovation, science, technology and growth.  The Fund, which is the first regional Urban Development Fund to have been established in England, has been set up to provide funding to commercial development projects which will support lasting jobs across the region.  It will invest in opportunities across the urban areas of the East Midlands, many of which have stagnated due to the lack of bank finance resulting from the credit crunch and the resulting recession.

The Fund has already secured £15 million as follows:

•    £5 million the East Midlands Development Agency’s (emda’s) own funding; and
•    £10 million from the European Regional Development Fund (ERDF).

Appropriate investment opportunities across the region are now being sought.

JESSICA

The Fund has been established through a European funding mechanism called JESSICA (Joint European Support for Sustainable Investment in City Areas) and will primarily focus on ERDF’s Priority Axis 1 which is about creating the physical environment for businesses to innovate and grow.

Jones Lang LaSalle

Jones Lang LaSalle Consultancy was appointed in 2009 to assist in the creation of the fund and is retained to engage with public and private sector partners to identify development opportunities. Jones Lang LaSalle Finance LLP operates the fund and is authorised and regulated by the Financial Services Authority for the conduct of investment business.