34000 jobs is the clear message from the Strategic Economic Plan for Gloucestershire

Increasing the prosperity of the county and building on its outstanding strengths, GFirst LEP, the Local Enterprise partnership for Gloucestershire has submitted the final version of the Strategic Economic Plan (SEP) to Government stating its business plan to grow the local economy by nearly £500m by 2021.

Increasing the prosperity of the county and building on its outstanding strengths, GFirst LEP, the Local Enterprise partnership for Gloucestershire has submitted the final version of the Strategic Economic Plan (SEP) to Government stating its business plan to grow the local economy by nearly £500m by 2021.

Working in strong partnership with the private, public and voluntary sectors, the plan aims to generate 34,000 new jobs and create over 5,000 new apprenticeship opportunities.

To unlock the economic potential of Gloucestershire, GFirst LEP is seeking £52m to invest in three core initiatives that will accelerate new start-ups, maximise the connections and opportunities of the M5 motorway corridor and support businesses to achieve their growth potential, particularly those in high growth sectors:

1. The Growth Hub will integrate the work of GFirst LEP, the University of Gloucestershire and partner organisations in providing seamless support services for business, targeted particularly on those with high growth potential in knowledge-intensive sectors. Providing a wide range of innovative and tailored business services, the Growth Hub is specifically designed to boost the development of world-class companies, increase exports and fast-track entrepreneurial start-ups with high-growth potential.


2. The Growth Zone will provide valuable space for business expansion by ensuring the availability of employment land in good locations in the county with the necessary transport infrastructure, essential to attract and retain high value-added businesses.  The key priority will be for delivery and development of employment land around Junctions 9 and 10 of the M5, supported by transport priorities to reduce congestion, including the notorious A417 and the A40 from the west of Gloucester through to Cheltenham town centre.


3. To anticipate the unprecedented expansion of nuclear and low carbon energy and engineering in the county, a skills development and training centre at the decommissioned Berkeley power station specialising in Renewable Energy, Engineering and Nuclear of national and European significance. In partnership with South Gloucestershire and Stroud College, GREEN will provide a centre of excellence for skills development in STEM (Science, Technology, Engineering & Maths) to satisfy the demands of the business community and the anticipated requirement for 45,000 skilled engineers for the construction of the Hinkley ‘C’ and Oldbury Nuclear Power Stations.

 

Submitting the SEP, Dr Diane Savory OBE DL, Chair of GFirst LEP said: “The foundation for a flourishing economy has already been laid as we have excellent start-up survival and job creation rates and these, will be maintained and strengthened in the plan.

My aim as Chair of GFirst LEP has always been to develop what is, in effect, a business plan for growth for the county and I’m delighted that the SEP does exactly this. In consultation with the business community, public and voluntary sectors, the plan sets out clear goals to drive exports, create jobs, develop skills and will create an environment in Gloucestershire that tells the world we’re open for business and the ‘go to’ place for exceptional high performance companies.”

David Owen, Chief Executive, GFirst LEP commented: “We recognise that given the current financial state of the UK economy, the Government will be faced with difficult investment choices to choose from the 39 LEP regions. However, I believe we have presented a solid investment case for Gloucestershire with plans to achieve significant economic growth. Whilst we must temper our expectations with realism, we have already received extremely favourable feedback from the Rt Hon Greg Clark and Baroness Kramer:

The Minister for Cities, the Rt Hon Greg Clark MP, said: "The Government welcomes the Strategic Economic Plan that GFirst LEP has published today and looks forward to continued engagement with local civic and business leaders over the next few months on the negotiation of their Growth Deal.

The Growth Deal provides a fantastic opportunity for GFirst LEP to seek freedoms, flexibilities and influence over resources from government, and a share of the Local Growth Fund to put towards their the growth priorities set out in this Strategic Economic Plan. This provides the opportunity to unleash the ambition and creativity of GFirst’s local leaders, by devolving resource and responsibility in return for compelling local economic leadership in pursuit of growth.”

 The Minister of State for Transport, Baroness Kramer said: “As one of the Local Growth Ministers, I am pleased to say we have received the Strategic Economic Plan published by GFirst Local Enterprise Partnership. LEPs are proving highly effective engines for economic growth at local and regional levels.

“This is an exciting time for local communities who are showing real leadership in driving growth. Government looks forward to supporting LEPs in their efforts to generate jobs and stimulate growth.”

The Strategic Economic Plan can be viewed online by visiting this page.