Over £107 million of investment sparks transformation in many Oxfordshire communities

OxLEP are catalysing the county’s ongoing drive to be a world-leading economy through securing and facilitating investment into its many businesses and communities.

Since 2014OxLEP has secured £107.5 million of investment to support multiple projects to benefit local people and businesses through the Government’s Local Growth Fund.

Three rounds of funding from the Local Growth Fund in 20142015 and 2017 have supported 30 projects which are enhancing the skills of local people enriching places sparking innovation and enterprise and boosting connectivity within the county.

Although all funding has now been allocated these projects have and will continue to spark growth within Oxfordshire and to highlight this OxLEP’s investment has been captured via a new ‘Lighting the Spark’ animationreviewing its Local Growth Fund activity.

WATCH: ‘Lighting the Spark’ with OxLEP: The £107.5m Local Growth Fund investment for Oxfordshire

By 2030the Local Growth Fund projects will collectively create 9700 new jobssupport 2800 new learnersdevelop 1800 new homes and enable at least £850 million of new funding for the county.

This includes helping to address challenges across key Oxfordshire locationswith £47 million of the funding invested in six ‘place-orientated’ improvement schemes delivered in collaboration with key partners including Oxfordshire County Council Oxford City Council and the Environment Agency.

These projects will stimulate growth and regeneration create new opportunities for employmentattract further investment and improve biodiversity across many locations in the county.

By March 2030they are forecasted to collectively support the creation of more than 9000 jobs and see 1800 homes built.

Early-stage funding secured by OxLEP to support Oxford City Council allowed enabling works at Oxpens a development that will create a new residential commercial and leisure quarter for the city close to Oxford Station.

The Oxpens investment alone will lead to much-needed office and research space and new homes in the heart of Oxford supporting the city’s ambitions to create a world-leading innovation-led economy.

Nigel Tipple Chief Executive of OxLEP said: “The Local Growth Fund has allowed us to invest in a wide variety of projects across Oxfordshiresupporting many of its businesses and communities to thrive and grow.

“The forecasted impacts by 2030 showcase the sheer impact that this funding is having and will continue to have on our people places enterprise and connectivity long into the future.

“Although all funding has now been allocated we expect to reap the rewards of this investment for years to come and would like to encourage local businesses to continue to engage with us at this time of growth. OxLEP can help support your business venture – whether a multi-national SME start-up or sole trader.

“We are grateful for the support of our many delivery partners and collaboratorswho have worked hard to make these projects a success to date.”

Oxfordshire-based organisations seeking support are encouraged to complete OxLEP Business’ online business support tool. 

Complete the OxLEP business support tool