Gloucestershire businesses asked to bid for a share of £8.4m to create jobs

Businesses are being invited to bid for a share of £8.4million aimed at helping Gloucestershire create new jobs and drive economic growth.

Gloucestershire Local Enterprise Partnership, which is driven by economic development company GFirst, secured the cash from the Government's Growing Places Fund and is now looking for expressions of interest from interested parties that want to bring forward sites for development in the county.

The loan fund, which will be known Gloucestershire Infrastructure Investment Fund (GIIF), is designed to kick start growth by unlocking infrastructure, housing and economic development schemes which have stalled in the current economic climate.

The GIIF was launched this week and proposals are welcomed from the private sector, local authorities and other interested parties.

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.”

The Growing Places Fund bid was driven 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.

The funding has been administered to the county council, as the accountable body, before the projects are delivered.

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.”

To find out more or to submit a proposal or scheme visit www.gloslep.co.uk .