When people talk about economic growth, the conversation often focuses on our largest cities and strongest-performing regions.
Yet some of the greatest opportunities for growth lie in places that have historically been overlooked. Cities such as Derby and many other SIGOMA authorities have the talent, ambition and industrial heritage to make a significant contribution to the UK's future prosperity. What they need is the opportunity and investment to unlock their potential.
The economic prize is substantial. Research from the Local Government Association estimates that England has £276bn of untapped economic potential, with £234bn concentrated in urban areas. Much of that potential is found in communities that face longstanding structural barriers, from weaker private investment markets and low land values to ageing infrastructure and skills challenges.
To unlock this potential, local leaders must be at the heart of decision-making. Regeneration cannot be something done to places; it must be shaped by those who know their communities best. Local councils understand where investment can have the greatest impact, where barriers to growth exist, and how public and private investment can work together to create lasting change.
I see first-hand the difference that targeted regeneration can make. In Derby, we are demonstrating this through our Team Derby partnership, bringing together the council, businesses, education providers, and investors behind a shared vision for the city's future. Rather than organisations working in isolation, Team Derby aligns investment, skills, regeneration and economic development efforts to maximise impact and attract new opportunities into the city. This collaboration recently helped secure £10m of investment through the East Midlands Combined County Authority to support jobs, skills and city centre regeneration. It shows what can be achieved when local partners are empowered to work together, shape priorities locally and speak with one voice on growth.
That is why SIGOMA is calling for councils to have fair access to growth funding, but also a meaningful role in shaping Local Growth Plans. Growth funding must continue to reflect need and deprivation, ensuring investment reaches places facing the greatest barriers to growth rather than simply flowing to areas where commercial returns are already strongest.
This reflects SIGOMA's wider call for councils to play a central role in delivering growth and for funding to be allocated in a way that recognises structural need and economic potential.
With the right support, local leadership and long-term investment, these communities can become powerful engines of national prosperity.
Cllr Nadine Peatfield is leader of Derby City Council and vice chair, SIGOMA (Special Interest Group of Municipal Authorities)
