Blueprint for economic growth outlined in new strategy

Gloucestershire’s Economic Strategy (2024-2034) – Driven by innovation, built on heritage covers the next 10 years and introduces a new long-term vision for the county – Gloucestershire 2050, which sets out the plan to achieve greener and inclusive growth that all residents can contribute to and benefit from.

The strategy has been put together with input from residents, businesses and partners following a public engagement period held last year. It sets out the priorities and ambitions for the county to deliver long-term sustainable economic growth. With the transfer of GFirst LEP functions to the county council earlier this year, the strategy provides a new impetus for engaging with businesses and sustainably growing the Gloucestershire economy.

The strategy sets out a plan to establish Gloucestershire by 2050 as a hub for the UK’s intelligence, security, and cyber agencies as well as a centre for world-leading, sustainable businesses in the cutting-edge industries of digital communications, advanced manufacturing, agri-tech, and green and nuclear energy, while preserving our rich cultural and natural heritage. The strategy also outlines how Gloucestershire will build on its strength as a prominent location in western England with ease of access to regional hubs in, and beyond, the Western Gateway. The strategy aims to sustain our important rural landscapes and vibrant urban centres and deliver a stronger, more sustainable economy that benefits the whole county.

The strategy outlines the county’s strengths, opportunities and challenges, and is shaped by four main priorities:

• Sustainable growth – the viability of future development to positively contribute towards Gloucestershire’s future growth needs and to help support a strong, responsive and competitive economy.
• Inward investment – investment from external companies or individuals is a key component for prosperity and growth in an open economy and Gloucestershire has been successful in attracting this type of investment.
• Employment and skills – providing residents with access to skills and development opportunities will allow them to reach their potential, which will contribute to the county’s ambition to improve productivity levels and ensure residents have fulfilling careers.
• Business innovation and support – Gloucestershire has a well established business support system, including GFirst LEP’s Growth Hub and business membership organisations such as the Federation of Small Businesses and Chambers of Commerce, which help businesses overcome any barriers to growth.

These priorities will be supported by two themes, Greener Gloucestershire and Inclusive Gloucestershire. The county’s target is to be carbon neutral by 2045 at the latest, and it is important that all residents can access, benefit from and positively contribute to the economy, including those who are economically inactive and those experiencing health inequalities.

Cabinet is being recommended to approve the adoption of the strategy at a meeting next Wednesday (15 May).

In recognition of the partnership approach to delivering the priorities outlined in the economic strategy, oversight for the delivery of the strategy will sit with the newly formed Gloucestershire City Region Board with members from all six district councils and the county council.

Cllr Mark Hawthorne, leader of Gloucestershire County Council, said: “This strategy sets out our ambitious plans for the next 10 years to deliver long-term sustainable economic growth. We want to ensure the county is a vibrant place to live and work by building on our strengths, continuing to attract new investment and by providing residents with the skills they need to reach their potential.

“The strategy also focuses on meeting our carbon neutral objectives, as we transition to a green economy and a sustainable future.”

You can read the full cabinet report here.