Leicester is a city in the East Midlands with close to 350,000 inhabitants. It is one of the oldest cities in Britain and one of the earliest to industrialise. Manufacturing remains an important but now much smaller part of the local economy (particularly textiles, clothing and shoes), while the services sector continues to grow. In terms of population, Leicester is one of the fastest growing cities in Britain and its population has become one of the most ethnically diverse in the country.
European Regional Development Fund has co-financed numerous projects for economic development in Leicester over the 2007-13 programming period. This includes over £2.5 million for the Enterprising Leicester project to support local entrepreneurs and SMEs, and £266,000 to build up a creative enterprise hub in the city. Furthermore, £2.6 million in EU regional funding has been allocated to the Connecting Leicester project in order to improve local infrastructure and develop the King Richard III visitor centre, which is located at the recently discovered burial site of this 15th century English monarch.
European Social Fund has allocated around £50 million to Leicester and Leicestershire over the 2014-2020 programming period, in order to support a series of projects to improve the local labour market including the integration of young people and access to employment for jobseekers and inactive persons.
European Investment Bank agreed in 2013 to deliver £55 million in EU financing to support the campus development of the University of Leicester over a 25 year period. This includes the construction of new buildings meeting the highest energy efficiency standards, modernisation of old university buildings dating from the 1970s, refurbishment of the sports centre, improvements to the library, and financing for new research centres of excellence.