GFirst LEP publishes Growth Statement

GFirst Local Enterprise Partnership has today published its Growth Statement, which describes a forecast for the future and the challenges that have to be faced to boost the county’s economy and employment by 2025.

The LEP, which is led by the business community, has been tasked by the Government to develop a long-term Growth Plan for Gloucestershire in line with the National Growth Strategy.

The Growth Statement published today will act as a basis for a detailed Growth Plan, which GFirst LEP will be developing in partnership with the Gloucestershire business community over the coming months.

The statement, which is based on a forecast using the Local Economic Forecasting Model (LEFM), predicts that in 2025 Gloucestershire will have: 33,800 extra jobs 0.8% jobs growth per annum Productivity improvement of 2% per annum And an economy of £14.5billion

It also shows predictions that the sectors with the highest employment growth in Gloucestershire will be health and care, accommodation and food, business administration, construction, and finance and insurance.

David Owen, chief executive of GFirst LEP, said: “Since GFirst LEP was created just under two years ago we have secured thousands of jobs and millions of pounds of investment for Gloucestershire. By creating a robust plan for the county we will be able to ensure that Gloucestershire’s economy continues to grow and we are able to provide jobs to a wealth of workers.”

GFirst LEP has been tasked with producing a Growth Plan after the Government's recent budget statement where recognition was given to the increased profile and importance of LEPs. George Osborne announced the creation of a single funding pot, which will be available to help LEPs build local growth plans and strategies in 2015.

By the end of April a further statement on how the Growth Plan will be developed will be published by GFirst LEP indicating the steps and processes for the formation of the plan, as well as a timeline and milestones. The LEP will then be working with Gloucestershire businesses, councils and other organisations to ensure it is robust and meets the needs of the county before it is published in 2014.

Diane Savory, chair of GFirst LEP, said: “Gloucestershire businesses have already showed an unbelievable amount of support for our LEP. By continuing to work hand-in-hand with us, local councils, education providers and other organisations, together we will ensure that Gloucestershire thrives.”

To view the Gloucestershire Growth Statement click here.

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