Summary
A £50,000 analysis of an area dubbed the Gloucester-Cheltenham Growth Corridor is to be carried out. It will seek to define the boundaries of the “economic ecosystem” and demonstrate how it contributes to national priorities, providing evidence for future investment.
Details
It comes after MP Steve Reed, Secretary of State for Housing, Communities and Local Government, referenced the corridor as part of his reasoning for choosing a one unitary authority Local Government Reorganisation (LGR) approach for Gloucestershire.
He said splitting Cheltenham and Gloucester would “undermine” the economic area and added: “Bringing the Gloucester – Cheltenham growth corridor and the Golden Valley cyber cluster into one council will enable the unitary to unlock investment and coordinate delivery most effectively.” Members of the City Region Board have now signed off £50,000 to commission a detailed economic impact and innovation analysis of the corridor.
The money will come from the county’s Strategic Economic Development Fund (SEDF), a pool of money fed by local business rates. Match funding of £10,000 has been committed from University of Gloucestershire, Gloucestershire College and Hartpury University David Owen, Gloucestershire County Council (GCC) director of economy and environment, said the spending was “largely in response” to the minister’s letter.
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His report to the board said the Gloucester-Cheltenham area is one of the “most significant economic geographies in the South West”, bringing together nationally important assets in cyber security, defence, intelligence, advanced manufacturing, innovation and higher education. What are growth corridors? The term was coined by the government in around 2016.
They are a designated geographic region along major transport routes, where targeted investment in infrastructure, housing, and industry is used to drive local economic productivity and job creation.
In the Oxford to Cambridge Growth Corridor, the government has committed £800million for land acquisition and infrastructure, set up the Greater Cambridge Development Corporation and showcased the Corridor’s IS-8 opportunities. This has helped unlock private investments including £10billion from the Ellison Institute of Technology in Oxfordshire. What will happen in Gloucestershire?
Cllr Jeremy Hilton, Lib Dem leader of Gloucester City Council, asked if there a “gut feeling” about where the boundaries would be. Mr Owen said he preferred to “follow the evidence” but the corridor would stretch beyond the town and city centres.
Report source: Punchline Gloucester
