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Over £2million boost for projects driving local growth and innovation

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Economic growth and innovation have received a significant boost as the Gloucestershire City Region Board approved new funding awards from the Gloucestershire Business Rates Pool: Strategic Economic Development Fund (SEDF).

At its meeting on 14 November 2025, the Board agreed a substantial investment in projects aligned with the county’s Economic Strategy, underscoring a collaborative vision for prosperity and sustainable development. 

About the Strategic Economic Development Fund (SEDF) 

The SEDF is a cornerstone initiative designed to accelerate Gloucestershire’s economic development by supporting impactful projects that foster innovation, job creation, and community wellbeing. As a strategic funding stream, the SEDF is closely aligned with the Gloucestershire Local Growth Plan as well as the Gloucestershire Local Plan, that has been approved by the City Region Board, targeting interventions that deliver long-term benefits and position the county for future success. 

Rigorous assessment and strategic alignment 

Applications for SEDF funding undergo a robust appraisal led by the City Region Board members which includes representation from all of the county’s councils as well as a ‘dragon’s den’ style panel to pitch to members and senior officers. Each proposal is assessed against criteria including strategic fit, value for money, deliverability, and alignment with economic priorities. This rigorous process ensures only the most promising and strategically relevant projects receive support, maximising the positive impact for Gloucestershire’s residents and businesses. 

Awarded projects: accelerating local growth 

This funding sees a diverse array of projects receive support, each selected for its potential to drive economic advancement: 

1. Gloucestershire Local Area Energy Plan and Energy Officer: funding: £325,000 Supports the production of a county-wide Energy Plan and recruitment of an Energy Officer, enabling strategic energy resource planning, formal RESP submission, and long-term capacity building for cost efficiencies and infrastructure improvements. 

2. Gloucestershire Careers Hub: funding: £392,000 over two years. Enhances careers education in schools and colleges, expands employer engagement, and grows resources for key sectors including green skills, cyber, and digital. The project will enable the hub to continue and improve its work with 62 schools/colleges and over 100 employers, with match funding from the Department for Education. 

3. Invest in Gloucestershire – Inward Investment Support: funding: £350,000.  Strengthens Gloucestershire’s inward investment capacity by expanding the team, promoting county assets nationally and internationally, and building links with universities and colleges to align investment with workforce development. 

4. Advanced Engineering and Manufacturing (AEM) Sector Growth: funding: £400,000 Unlocks growth in the AEM sector through countywide initiatives led by Tewkesbury Borough Council, supporting SMEs, deploying dedicated advisors, and establishing an AEM business board. Expected outcomes include support for 150+ businesses, creation/retention of 170 jobs, and £3.5m GVA uplift. 

5. Future-proofing the visitor economy: funding: £300,000 will create a unified county data platform for tourism, enabling smarter planning and marketing, supporting sustainable growth, and aligning with national strategies. Anticipated outcomes include 5–10% visitor growth, new jobs, and open access to research data. 

6. Resilient Futures Lab – Hartpury University: funding: £133,000: Establishes a living lab for energy management and environmental monitoring, testing new technologies, embedding green skills in education, and modelling climate resilience. Benefits include training for students, workshops for professionals, and support for local businesses. 

7. SIDEKICK Venture Studio: funding: £300,000 (investment loan) launches Gloucestershire’s first cyber, national security, and defence-focused venture studio, aiming to create 30 high-growth start-ups and over 300 high-value jobs, generating £31.5m GVA and strengthening the region’s digital ecosystem.

Cllr Julian Tooke, cabinet member for business, economic development, planning and infrastructure, said: “The awards announced today are a testament to the power of partnership and shared ambition in Gloucestershire. By working closely together across the county we are investing in projects that not only deliver immediate benefits but lay the foundation for a thriving, innovative future.” 

Economic impact and community benefits 

The projects supported by the SEDF will create new jobs, attract investment, and drive innovation, strengthening Gloucestershire’s position as a leading region for business and creativity. Communities across the county stand to benefit from improved infrastructure, enhanced skills provision, and greater opportunities, ensuring inclusive and sustainable growth.