European Regional Development Fund (ERDF)

The European Regional Development Fund (ERDF) is a funding programme which helps stimulate economic development and regeneration in the least prosperous regions of the European Union (EU).

Investment is targeted to meet three objectives set down by the EU: Convergence, Regional Competitiveness and Employment and European Territorial Co-operation.

Since 2000, England has benefited from over £3.4 billion of ERDF investment, with a further £2.5 billion being invested in projects for the new round of programmes (2007 to 2013).

Achievements

ERDF has already helped a wide variety of projects - from large public works to small local initiatives. All are designed to benefit the regional or local economy. To date, key achievements include:

Over 86,000 jobs created or safeguarded
Over 70,000 small and medium-sized enterprises (SMEs) assisted
Over 1,000 hectares of brownfield land reclaimed
Over 340,000 square metres of workspace constructed or improved

Major projects which have benefited from ERDF investment include the regeneration of the King's Dock in Liverpool (£48 million ERDF) and the Eden Project in Cornwall (£12.8 million). Without this investment, these projects and many like them simply would not have happened.

Communities and Local Government manages ERDF in England.