The Oxfordshire Local Enterprise Partnership has published a strategy that sets out the types of initiatives on which it intends to spend the €19.4 million it was awarded by the Government in June.

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 provide opportunities for residents throughout Oxfordshire to participate in its already successful economy.

The allocation is made up of two funds – the European Regional Development Fund (ERDF) and the European Social Fund (ESF) and is for projects running from 2014 to 2020. The Enterprise Partnership is intending to provisionally allocate around 15% of the funding on supporting Oxfordshire’s businesses and further 9% on encouraging innovate ways of developing a low carbon economy. Nearly one quarter of the funding available is earmarked skills and lifelong learning, with the bulk expected to support apprenticeships and traineeships, especially for the county’s young people. A further 9% will help young people to access additional education or training options that lead to sustainable employment opportunities – especially for those most in need of help.

The strategy also promotes a bottom up approach within local areas by allocating nearly £900K for Community Led Local Development initiatives that will build on successful projects such as the LEADER programme in southern Oxfordshire.

Nigel Tipple, Chief Executive of the LEP said, “We have made sure that our EU funds are used to foster innovation throughout Oxfordshire. The priorities align strongly with our City Deal ambition but make sure that economic benefits are spread right across the county”.

He went on to say, “The Oxfordshire LEP has been very fortunate that organisations in Oxfordshire such as the Local Nature Partnership, the Earth Trust and Oxfordshire Voluntary and Community Action have joined us to help develop and shape the strategy”.

Cllr Ian Hudspeth, Leader of Oxfordshire County Council said, “It is great that local organisations are able to decide how this important source of funding is spent. It means that the funding can be focused on what the LEP and its partners know will work to make an even more successful local economy”

The Oxfordshire ESIF Strategy will now be submitted to the Department for Business, Innovation & Skills (BIS) for consideration and discussion with the European Commission. Assuming a positive outcome, the Oxfordshire LEP will then firm up proposals during a public consultation period in November. A final strategy will then be submitted to BIS at the end of January.

The strategy itself, and background information on the European Funding allocation, can be found at http://www.oxfordshirelep.com/content/eu-strategy, or phone Dawn Pettis on 01865 815320