Back Row (l-r): Richard O'Doherty, Katie Jenkins, Laura Crabb, Mark Hawthorne, Adam Starkey, David Owen, Mally Findlater. Front: Nick Clegg, Dr Diane Savory OBE
GFirst LEP have secured further funding for Gloucestershire as part of the recent Gloucestershire Growth Deal; an additional £15 million, adding to the £62.5 million confirmed in July 2014, that is being invested into the county. This announcement was confirmed by the Department for Business, Innovation and Skills (BIS), seeing 6 projects in the county receive the extra investment from government. This latest funding will see up to 6000 jobs being created or safeguarded, up to 400 new homes built, as well as the potential to generate up to £220million in public and private investment within Gloucestershire.
Key features of the expanded deal include:
- Promoting the growth of Gloucestershire Airport by improving key infrastructure at the site. Allocated £550,000.
- Investment in the regeneration of the Blackfriars and Quayside areas in Gloucester City Centre for domestic and commercial use. Allocated £4.13 million.
- Support for fledgling agri-tech businesses – high tech incubation facilities to support start-ups and promote innovation at the Royal Agricultural University. Allocated £2.92 million.
- Support for retail entrepreneurship – provision of high street incubation space in Gloucestershire. Allocated £400k.
- Further additions to the planned Gloucestershire Renewable Energy, Engineering and Nuclear skills centre at Berkeley:
- A new Cyber Security Training and Conference Centre to build Gloucestershire’s skills base in this fast-growing sector. Allocated £3 million.
- An Advanced Renewable Energy Resource Centre delivering STEM skills development, experimental research and specialist business and domestic market support in renewables. Allocated £4 million.
You can read more about the expanded deal here.
Deputy Prime Minster Nick Clegg visited GFirst LEP on Friday 9th January to formally sign the Growth Deal for Gloucestershire; an agreement with the Government which will see £62.5 million invested in Gloucestershire.
Mr Clegg met with Dr Diane Savory OBE, Chair of GFirst LEP, alongside Chief Executive David Owen and Board Members, Adam Starkey and Councillor Mark Hawthorne, Leader of Gloucestershire County Council.
Click here to download a full summary of the Gloucestershire Growth Deal (PDF, 238kb)
Tasked by Government with creating an ambitious business plan for economic growth for Gloucestershire, the Government has confirmed its investment of £62.5 million in Gloucestershire. £23.6million has been confirmed in the first year, and as part of the Government’s on-going commitment to GFirst LEP it has provided an indicative award of a further £38.9million of funding from 2016/17 onwards. The Growth Deal will help to create up to 5000 jobs and generate up to £40 million in public and private investment. This deal is part of a wider Strategic Economic Plan that will lead to 34,000 jobs.
This has all been made possible by GFirst LEP working in partnership with the private, public and voluntary sectors to present the best possible case for investment in the county.
The result is an overwhelming endorsement from Government that will see the Gloucestershire Growth Deal deliver Growth Hub services in physical locations across the county, kick start the GREEN project at the Berkeley site, further develop the Growth Zone on the M5 corridor, and deliver some key transport projects across Gloucestershire.
1. The Growth Hub is a unique partnership between the University of Gloucestershire and GFirst LEP to enable businesses to achieve their true growth potential. The Growth Deal will ensure physical spokes for business access to support services are in place across the county, Science, Technology, Engineering, and Mathematics (STEM) centres deliver quality provision across Gloucestershire, and the funding is in place for the next phase of physical development of the Growth Hub central facility.
2. The Gloucestershire centre of excellence in Renewable Energy, Engineering & Nuclear skills (GREEN) is a partnership between GFirst LEP and South Gloucestershire and Stroud College. GREEN will be a world-class centre of excellence for STEM training, providing workforce development training and apprenticeship opportunities based at the decommissioned Berkeley power station site.
3. The Growth Zone will further develop the availability of employment land along the M5 corridor in order to attract and retain high value-added businesses by providing valuable space and the necessary transport infrastructure for business expansion. Initial focus will be on development at junction 9 and junction 10 of the M5 and in particular the opportunity provided by the Ashchurch site near Tewkesbury.
In addition Government have confirmed new investment in major infrastructure schemes across Gloucestershire:
• £4.36 million will improve the A419 corridor between Stonehouse and the M5
• £1.15 million will improve access to the Berkeley site for the GREEN project
• £4.7 million will ensure that the re-development of the Kings Quarter bus station in Gloucester happens
• £1 million will develop a robust transport strategy for Lydney
And Government were so impressed by the business plan that they have provisionally allocated funding to an additional five schemes:
• £1.99 million provisional allocation to repair the Berkeley bridges, reducing travel times on the A38
• £3.8 million provisional allocation to fund the Cinderford Northern Quarter Link Road
• £2 million provisional allocation to upgrade the Gloucester South West bypass
• £1 million provisional allocation to upgrade St Barnabas Roundabout in Gloucester
• £1.6 million provisional allocation to upgrade the B4063 Staverton Bridge junction
The Gloucestershire Growth Deal also ensures that the Highways Agency is committed to working with Gloucestershire County Council to develop a compelling business case to secure funding to address the A417 Missing Link.
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