6 ISSUES FOR JUST £6 Subscribe to Business & Professional Life today CLICK HERE

Gloucestershire LEP's first GIIF project agreed

PUBLISHED: 17:34 20 March 2013 | UPDATED: 21:14 05 April 2013

Gloucestershire Local Enterprise Partnership has agreed to fund its first project from the £8.4million Gloucestershire Infrastructure Investment Fund to create jobs and kick start investment.

Gloucestershire LEPs first GIIF project agreed

Gloucestershire Local Enterprise Partnership has agreed to fund its first project from the 8.4million Gloucestershire Infrastructure Investment Fund to create jobs and kick start investment.

The LEP, which is driven by GFirst, will give a 3m loan to local commercial developer Robert Hitchins Ltd, to construct a new roundabout on the A48 at Lydney. Complete with access roads, associated services and utilities, the project will open up a major mixed use development on the east side of Lydney, providing vital connections to the nearby Hurst Farm employment site, which will secure around 1,000 new houses and 1,600 jobs.

Diane Savory, chair of the Gloucestershire LEP said: As happy as we were to secure cash from the Growing Places Fund for Gloucestershire, I am delighted that the first project is about to deliver. The project is very real and opens up the prospect of hundreds of new Gloucestershire jobs, as well as affordable housing.

Andrew Hill, Land Director for Robert Hitchins, said The money from the Gloucestershire Infrastructure Investment Fund will enable this scheme to get started. It is likely to begin in the latter part of this year.

After successfully pitching for 8.4m of the Governments Growing Places Fund, Gloucestershire LEP created the Gloucestershire Infrastructure Investment Fund, which aims to create jobs and unlock stalled developments. The LEP then launched an Investment Panel, which is made up of Gloucestershire LEP, local business and local authority representatives, to analyse the detailed business cases of the projects before a final decision was made by the LEP Board.

Gloucestershire County Council acted as accountable body for the fund, while the strategic planning context was provided by the Forest of Dean District Council.

Councillor Patrick Molyneux, leader of the Forest of Dean District Council said This is fantastic news not just for Lydney but also for the entire District as it unlocks much needed land for both employment and housing.

The Gloucestershire Infrastructure Investment Fund indicates a new way forward for the Gloucestershire Local Enterprise Partnership as it secures money, assesses infrastructure needs and delivers investment to stimulate and encourage private sector economic growth. It is a revolving fund, which will see the money paid back within a few years to enable investment in other projects.

David Owen, Chief Executive of GFirst is keen to emphasise that other Gloucestershire projects can still benefit from the fund.

He said: This major project happens to be in the Forest of Dean, with our LEP Board approving a funding award of 3m. We still have over 5m yet to allocate from the fund, and therefore the LEP is keen to encourage further expressions of interest from other parties who may be seeking funding for essential infrastructure to enable them to bring forward sites for development right across Gloucestershire. Projects do not have to be on this scale.

Details and guidance about the Gloucestershire Infrastructure Investment Fund can be found atwww.gloslep.co.uk/gloucestershire-infrastructure-investment-fund.aspx


More from Cotswold Life


This year sees the 40th anniversary of the publication of Raymond Briggs’ original picture book The Snowman. With three performances of the animated film – with live orchestra – coming to Gloucester Cathedral next month, we thought we’d catch up with Rachel Whibley, managing director of Carrot Productions (and occasional snowman), to find out more...

Read more
Yesterday, 14:10

It’s the season of terrible puns, magic lamps, and generous genies: Aladdin, the all-new panto at the Everyman, has been written by none other than legendary Blue Peter presenter Peter Duncan, and stars everyone’s favourite clown, Tweedy. The Barnard family from Nailsworth - mum, dad, Harriet (12) and Lewis (6) - made a Wishee (Washee) for tickets; grabbed their car (Window Twan) keys; and dashed off to see A Ladd In Cheltenham

Read more
Yesterday, 13:45

Crispy, frosty days and perhaps even a dusting of snow, winter is a magical time in the Cotswolds. If you’re thinking of tying the knot during this beautiful season in the region, here are six winter wedding ideas to help you start planning your special day

Read more

Christmas in the Wilson household is a heartwarming, traditional family affair

Read more
Yesterday, 13:15

Tracy Spiers takes an impressive, if hypothetical, budget on a shopping spree in Cheltenham’s independent stores

Read more
Yesterday, 13:09

Veganism is the latest food trend to hit the Cotswolds but it’s something we can all enjoy a bite of

Read more
Yesterday, 12:23

Get out and enjoy seasonal celebrations with a Cotswold twist

Read more
Yesterday, 12:21

The weekend is fast approaching and for those still deciding how to spend their Friday through to Sunday, we pick 5 of the best ways to spend your weekend in the Cotswolds

Read more
Yesterday, 09:13

Alleviate the stress of hectic Christmas preparation and endless shopping trips with a festive afternoon tea in one of these gorgeous Cotswold settings

Read more
Friday, December 7, 2018

Find a fabulous gift for everyone with Whatley Manor’s monetary vouchers.

Read more
Thursday, December 6, 2018

One lucky reader could win a pair of tickets to see Ella Mills, founder of Deliciously Ella, at Calcot Manor as well as two signed copies of ‘The Plant-Based Cookbook’

Read more
Thursday, December 6, 2018

People travel from far and wide to visit the Cotswolds at Christmas. We’ve compiled 24 reasons why you should join them.

Read more
Tuesday, December 4, 2018

If you’re looking for things to do in the Cotswolds this month, we have gathered plenty of events for you to pop in your diary

Read more
Tuesday, December 4, 2018

Hundreds of participating National Lottery-funded visitor attractions across the UK are saying ‘thanks’ to people who have raised money for good causes by buying a lottery ticket, including a number of venues in the Cotswolds

Read more

Newsletter Sign Up

Sign up to the following newsletters:

Sign up to receive our regular email newsletter

Our Privacy Policy

Topics of Interest

Food and Drink Directory A+ Education

Subscribe or buy a mag today

subscription ad

Local Business Directory

Property Search