Member Article

£8.4m pot for Gloucestershire businesses

Gloucestershire businesses are being invited to bid for a share of an £8.4m pot, designed to create new jobs in the region.

The LEP, driven by GFirst, has secured the cash from the Government’s Growing Places Fund, and is now looking for expressions of interest.

The Gloucestershire Infrastructure Investment Fund (GIIF), is designed to instigate growth by funding infrastructure, housing and economic development schemes which have stalled in the current economic climate.

David Owen, Chief Executive of GFirst, said: “Many otherwise viable schemes have not been able to proceed due to a shortage of cash investment, a situation made worse by the current economic climate.

“The Gloucestershire Infrastructure Investment Fund provides the opportunity to address some of these constraints and barriers to unlock stalled developments and allow projects to realise their potential.

“The capital funding, in the form of an interest free loan, can be used for infrastructure needed to open up sites such as highways infrastructure, utilities or flood alleviation.

“The initiative is available to restart financially stalled projects or sites. We hope many parties will come forward to bid for this money so we can help them to help Gloucestershire’s economy grow.”

Gloucestershire’s Growing Places Fund bid was administered by the LEP’s business-led Construction and Infrastructure Sector Group, in partnership with Gloucestershire County Council, the Homes and Communities Agency, the local authorities and the private sector.

Councillor Mark Hawthorne, Gloucestershire County Council Leader, said: “The onus is on councils and business leaders to deliver growth, create jobs and get the housing market moving.

“Our priority is to invest in schemes that will keep businesses in Gloucestershire, just like this one. If we invest now then it will help to address long term infrastructure constraints, promoting economic growth and the delivery of jobs and houses.”

This was posted in Bdaily's Members' News section by Tom Keighley .