Impact of £8.4 million investment from OxLEP sparks economic growth in many Oxfordshire communities

The Oxfordshire Local Enterprise Partnership (OxLEP) has catalysed economic growth in some of the county’s more isolated and underfunded areas through one of its major investment programmes.

The Getting Building Fund is an £8.4 million programme of investment secured by OxLEP from the Government in 2020 to support Covid-19 recovery and features six projects. By 2025, the projects will have collectively spearheaded the creation of at least 640 new jobs in Oxfordshire.

To enable better connectivity in Oxfordshire’s rural communities, £800,000 of the funding was allocated to the Rural Gigabit Voucher Programme. The scheme, which is part of the Digital Investment Plan delivered by Oxfordshire County Council and Building Digital UK, allows rural residents and businesses to access faster and more reliable internet connections.

With all funding now spent, the programme will create a minimum of 1,600 new super/ultrafast broadband connections and enable greater levels of enterprise in rural locations and digital connectivity for smaller Oxfordshire communities.

OxLEP has also supported ‘Meanwhile in Oxfordshire…’ through the Getting Building Fund investment – a project delivered by Makespace Oxford, whilst being managed and commissioned by Oxford City Council and backed by Oxfordshire’s district councils.

In a bid to transform vacant high street retail units into affordable premises for small businesses and start-ups to use, ‘Meanwhile in Oxfordshire…’ was backed by £1.9 million-worth of investment .

By 2025, the project will support 112 businesses and create 300 jobs, helping to build stronger communities and bring the high street back to life.

Speaking recently on OxLEP’s ‘OxTalks’ podcast, Andy Edwards, Co-founder and Executive Director at Makespace Oxford said: “The Meanwhile in Oxfordshire programme gave us the opportunity to go from two hub spaces to bringing nearly 30 buildings back into use in 18 months – which is pretty much unprecedented –  across the county.

This was made possible through OxLEP and the capital grant we received from the Getting Building Fund, which went straight into refurbishing those buildings. It has allowed us to respond to the crisis of the closure of many high streets, shops and retail spaces in urban areas by reanimating them through refurbishment.”

Another impactful project which received funding is the Green Construction Skills Centre, situated at Abingdon and Witney College’s Abingdon campus. Receiving a total of £2.7 million Getting Building Fund investment, the facility will deliver training for 500 learners; crucial in a time when the demand for green construction skills is peaking, both nationally and regionally.

OxLEP is also driving economic growth through its three other projects, delivered via the Getting Building Fund investment. 

Nigel Tipple (pictured above), Chief Executive of OxLEP, said: “The latest results of the Getting Building Fund programme truly showcase the huge impact that individual projects are having and will continue to have on many Oxfordshire communities.

After a turbulent economic period for the country, the significant investment that we secured for Oxfordshire has enabled many businesses and communities on a number of fronts, including access to speedier broadband in rural locations, and opportunities to develop new skills that are vital for our future.”

He added: “I would like to encourage the county’s business community to continue to engage with us at this time of growth. We can help you to secure funding and offer access to training to support your business venture, however big or small.

Thank you to our many delivery partners, sub-contractors and individuals who have helped to make our activity so far a real success.”

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