The Gloucestershire Growth Deal comprises of:
£62.5 million confirmed in July 2014, which 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.
£15 million confirmed in January 2015, which 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 £220 million in public and private investment within Gloucestershire.
A bid for further funding was submitted in July 2016.
The £62.5 million allocated in July 2014 includes:
• 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 access to business 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.
• 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.
• 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 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 the re-development of the Kings Quarter bus station in Gloucester
• £1 million will develop a robust transport strategy for Lydney
• £1.99 million allocation to repair the Berkeley Bridges, reducing travel times on the A38
• £3.8 million allocation to fund the Cinderford Northern Quarter Link Road
• £2 million allocation to upgrade the Gloucester South West bypass
• £1 million allocation to upgrade St Barnabas Roundabout in Gloucester
• £1.6 million 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.
Click here to download a full summary of the Gloucestershire Growth Deal.
The £15 million allocation in January 2015 includes:
• 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.