Gloucestershire Local Enterprise Partnership has welcomed Government funding to help it boost economic growth.
An initial £5million will be made available immediately for the country’s 39 LEPs to draw upon for the rest of the current financial year and this will be followed by up to £250,000 per LEP for the next two years.
Diane Savory, chair of Gloucestershire LEP, which is driven by economic development company GFirst, said: “This funding will allow us to retain a team to support the LEP and its sector groups in their drive for growth and helps us to focus on our key development areas of promotion, skills, connection and investment for Gloucestershire.”
Local enterprise partnerships, which are led by local authorities and businesses across economic areas, were launched in 2011. They provide the vision, knowledge and strategic leadership needed to drive sustainable private sector growth and job creation in their area, but have previously had no core funding.