The Nottingham Enterprise Zone has received a major boost following the announcement of significant investment for its first project.

Minister for Housing Mark Prisk confirmed a deal, expected to be worth around £25m, that sees the public and private sectors working together to support economic growth and local job opportunities.

The proposal for the Alliance Boots Beeston site – one of the four sites within the Enterprise Zone – consists of collaborative investments from Alliance Boots; D2N2, the Nottinghamshire and Derbyshire Local Enterprise Partnership (LEP); the Department of Communities and Local Government with part of that investment coming from the Homes and Communities Agency (HCA).

Mr Prisk said: "I'm delighted to see the Nottingham Enterprise Zone get underway, demonstrating how the public and private sectors can work together to create a stronger future for UK business and local industry. The new Enterprise Zone is set to become a firm stronghold for UK PLC right in the heart of England, with the support it brings for new businesses creating jobs and boosting growth across the country."

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The announcement will result in the redevelopment of site infrastructure, including land preparation, remediation and public infrastructure works, to help ready it for commercial use.

The works, subject to detailed specifications and necessary planning approvals, will commence during 2013, providing job opportunities for local communities across Nottinghamshire and Derbyshire.

Proposed improvements to the site are expected to further strengthen its position as a centre for innovation and product development in the health, beauty and wellness sphere, and help to attract new businesses to the Nottingham area.

Speaking at the launch on site, Nottingham City Council leader Councillor Jon Collins said: "It is 20 months since the Prime Minister announced the Enterprise Zone status for this site and we have spent that time working with partners to secure today’s very significant funding package. Regeneration, economic growth and stability are absolute priorities for Nottingham City Council and today’s news demonstrates very clearly our plans are working."

(CD)