Newly-released figures from OxLEP has revealed one of its major programmes – developed to help drive economy recovery following the Covid-19 pandemic – will support hundreds of businesses, new jobs and learners from across the county.
A review of the Getting Building Fund – an £8.4m programme of investment secured by OxLEP from the Government in 2020 – has shown key impacts will be felt by many communities and businesses in Oxfordshire, both short-term and into the future too.
Overall and collectively, by 2025, the six projects supported by the Getting Building Fund investment will have spearheaded the creation of 640 new jobs alongside the safeguarding of a further 290 jobs.
The programme is also set to assist a total of 350 businesses in the county, plus enabling 500 new learners to access education and training opportunities.
The Getting Building Fund investment has backed a variety of different projects in the county, representing several key and emerging sectors.
WATCH: 'Lighting the Spark' with OxLEP: The £8.4m Getting Building Fund investment for Oxfordshire
The supported projects were:
- The Energy Systems Accelerator pilot (Mini TESA): Delivered by the University of Oxford; Mini TESA is a world-leading hub based on Osney Mead in Oxford, backing innovation and a future transition to new energy systems. It has benefited from £600,000 worth of investment that will lead to 102 jobs being generated.
- The Oxfordshire Business Investment Fund: Delivered in partnership with OxLEP Business – the business support arm of OxLEP – grants of up to £100,000, via £2.2m of funding, were provided to 51 Oxfordshire SMEs including those representing food and drink, green tech and the visitor economy. It will lead to 225 new jobs being created and the safeguarding of a further 260.
- ‘Meanwhile in Oxfordshire…’: Delivered by Makespace Oxford and backed by Oxford City Council and all Oxfordshire district councils, is a £1.9m countywide transformation project that has seen vacant high street retail units transformed into affordable premises that will support over 100 organisations across Oxfordshire and create 300 jobs.
- Digital Investment Plan, Rural Gigabit Voucher Programme: Delivered by Oxfordshire County Council and Building Digital UK, this £800,000 programme has enabled isolated rural communities and businesses in the county to access super or ultrafast broadband, with a minimum of 1600 connections being made.
- Green Construction Skills Centre: Situated at Abingdon and Witney College’s Abingdon campus, the new centre benefitted from £2.7m of funding and will deliver the training provision for 500 learners, matching the rising demand in green construction skills in Oxfordshire and beyond.
- Clinical Biomanufacturing Facility enabling works: Delivered by the University of Oxford, this £200,000 investment has ensured the early enabling stages of this major new Headington site can happen, leading to its expansion and supporting SMEs to develop clinical trials for investigational medicinal products. It will also lead to a possible increase in the UK’s global share of the vaccine market.
The Getting Building Fund programme sits within a total of around £1bn of investment that has been secured to-date for Oxfordshire by OxLEP, alongside key partners across the private and public sectors.
With the programme now entering its final stages, OxLEP says the investment will generate significant value and positive impacts for Oxfordshire businesses and communities, with the projects set to maintain major legacies for years to come.
To ensure the wider Oxfordshire community are aware of the fund’s impact, OxLEP have developed a programme animation – called ‘Lighting the Spark’ – which brings to life just where Getting Building Fund allocations were spent and the benefits to which it is leading.
Nigel Tipple – Chief Executive of OxLEP – said: “Our Getting Building Fund allocation has genuinely brought much needed resilience, opportunity and ambition to several key areas in Oxfordshire’s economy at a really critical time – the impact of this that we have witnessed, and will continue to witness, is significant.
“Ensuring that our businesses and communities see and feel the benefit of this investment is key and we are delighted to showcase what these impacts specifically are and how it is supporting Oxfordshire through one of most economically turbulent times in our history.
“We also thank our many partner organisations who have collaborated with us throughout the Getting Building Fund. They will undoubtedly ensure the legacy of our investment will continue for many years to come.”
OxLEP’s Getting Building Fund allocation was part of a £900m government investment announced three years ago, aimed at backing skills and infrastructure across the UK. The investment targeted areas facing the biggest economic challenges as a result of the pandemic.
