Derby City Council has revealed a £10 million fund to be used on future regeneration jobs in the area.
The local authority announced that it has started the fund in an attempt to boost its local economy.
Chief executive of Derby City Council Adam Wilkinson said: "An essential next step in Derby's regeneration is the construction of the new commercial office space right in the heart of the city centre."
Leader of the local authority Harvey Jennings stated that the funding, which will be made available to private sector companies in amounts between £400,000 and £4 million to work together with the council on regeneration projects, will encourage new developments to go ahead.
Mr Wilkinson has now called for "imaginative" proposals from developers for schemes that can complement the area's "massive retail and leisure investment".
This fund is likely to come as good news to people with jobs in regeneration after Greg Pitcher, deputy news editor at Constructions News, suggested that the government's public spending cuts could hit the industry hard.
Posted by Lucy Hallows