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EU money expected to add more than 500 jobs
11:00am Saturday 5th October 2013 in News
MORE than 500 jobs could be created when millions of pounds of European cash is ploughed into the Oxfordshire economy.
The Local Enterprise Partnership (LEP) has revealed what it wants to do with the £17.2m of funding it was awarded through the Government in June. The LEP will now lodge its plans with the Government for approval – before spending the money.
LEP chief executive Nigel Tipple said: “It is about realising the potential of Oxfordshire’s business growth, capitalising on its academic heritage, history and innovation.
“We have a diverse community and it is about bringing all the ingredients together with a strong focus on skills development.”
He added: “There will be something like 500 jobs created and 3,000 more supported through skills training and development.”
The Oxfordshire European Structural Investment Fund (ESIF) strategy states that the funding will be used to boost innovation, support business growth and job creation and grow an economy that already generates £15.5bn a year.
Specific areas to be targeted include: young people not in education, employment or training (NEETS); advanced engineering; low carbon developments and schemes to plug skills gaps in the county’s workforce.
The funding is expected to be delivered over seven years, starting from the middle of next year.