Good news for the economy

David Owen, Chief Executive, GFirst LEP said: "Reflecting the Government's announcement today about GDP and growth in the UK economy, we are also seeing a continuing trend of a reduction in the number of unemployment claimants in Gloucestershire and this is a welcome sign that the local economy is showing strong signs of recovery.

David Owen, Chief Executive, GFirst LEP said: "Reflecting the Government's announcement today about GDP and growth in the UK economy, we are also seeing a continuing trend of a reduction in the number of unemployment claimants in Gloucestershire and this is a welcome sign that the local economy is showing strong signs of recovery.  Creating new jobs, stimulating business growth and encouraging new start-ups are all important priorities as part of the draft Strategic Economic Plan (SEP) that was recently submitted to Government requesting circa £400m of investment.

Building on the strengths that Gloucestershire has  one of the best exceptional start-up survival and job creation rates in the country, the SEP in consultation with the business community and public and voluntary sectors, outlines three core priority initiatives with the aim to generate new jobs, develop skills and increase exports, the Growth Hub, the Growth Zone and GREEN; 

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, with 24/7 online resources and support accessible from a web portal.

The Growth Zone will unlock the economic prosperity of the county by providing 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. 

To anticipate the unprecedented expansion of Nuclear and low carbon energy and engineering in the county, the SEP outlines the creation of a Gloucestershire centre of excellence in Renewable Energy, Engineering & Nuclear skills (GREEN) at the decommissioned Berkeley power station. This will include a skills development and training centre specialising in Renewable Energy, Engineering and Nuclear of national and European significance.

Each of these priorities is designed to unlock the economic potential of the county and act as a catalyst for accelerating significant economic growth throughout the county."

For more information on the UK economy, please visit http://bit.ly/UK-economy. You can also follow @number10gov and @HMTreasury on Twitter.

To read Gloucester Citizen's coverage of this, please click here.