City shares in £10m Government fund to help unlock jobs and homes

Sheffield has been awarded £763,000 to develop proposals to unlock a significant number of homes and jobs through the New Development Corporation Competition (NDCC).

As part of the Government’s efforts to level up the country, the NDCC enables councils to develop locally-led proposals to accelerate economic growth opportunities and kickstart the delivery of thousands of new homes.

Local councils submit transformational proposals to win a share of the funding to explore their ideas further. Proposals are delivered by local people who know their community best.

Sheffield’s share of £763,000 will be spent on exploring an innovative delivery mechanism to enhance economic opportunities in the region whilst delivering 8,000 homes and creating up to 4,000 jobs by 2040.

It is one of two locations in England to receive the latest tranche of funding from the £10m fund – the other being Milton Keynes.

Funding across both regions will support the Government in its mission to help drive regeneration in towns and cities while helping people across the country on to the housing ladder.

Housing Secretary Robert Jenrick MP said: “We’re levelling up the country and supporting local councils to put in place innovative and exciting proposals which will help regenerate our much-loved towns and cities.

“I’m delighted to award the latest funding from the New Development Corporation Competition to Sheffield and Milton Keynes – two areas with huge potential for economic growth.

“Both proposals will help deliver the new homes this country needs and create new jobs for people in the local area.”