Survey launched to consider economic growth on M5 corridor
8:22am Saturday 15th February 2014 in News
A SURVEY has been commissioned to look into potential economic growth areas along the M5 corridor in Gloucestershire.
As part of the Strategic Economic Plan (SEP) being developed, GFirst LEP has launched the survey to check the area’s potential.
The exercise will be in close consultation with the business community, public sector, voluntary and community sectors in a bid to identify the availability of employment land which could be opened up for significant economic opportunities.
Chief executive of GFirst David Owen said the SEP set out ambitious economic growth targets for the area.
“To achieve, this we need to maximise the benefits from our investment of over £400m that we will make in the county.
“A key initiative is the creation of a growth zone based on the M5 corridor to address the need for employment land, especially for businesses in high growth sectors.
“As we start to make significant inroads in strengthening the economy, we need to ensure there is adequate provision of employment land in the right locations to ensure that existing businesses can expand and that we can attract inward investment.”
The research will be central to ensuring that employment land in the right areas is indentified to satisfy demand with robust evidence from the existing business community.
Mr Owen added that it would also help them make informed decisions for other vital projects such as the proposal to create a northbound and southbound access and exit to Junction 10.
The research will be carried out by Nathanial, Lichfield and Partners, one of the UK’s largest independent firms specialising in development planning to provide specialist advice on all aspects of the planning process.
The research will be completed by the end of February 2014.
To read more about the Strategic Economic Plan for Gloucestershire, visit the website www.gfirstlep.com