The Forest of Dean District council is investing £79,000 in The Growth Hub, calling the organisation 'vital' to Gloucestershire's economic prosperity.
The money is part of a larger pot won by the local authority from the UK Shared Prosperity Fund, with The Growth Hub’s share earmarked for its extensive work helping county companies of all sizes succeed and create new jobs.
Councillor Bernie O’Neill, district council cabinet member for the economy, said: ‘The Growth Hub is an invaluable resource for supporting and growing businesses, providing advice, signposting and events that help them to grow.
‘This support is vital if we are to create good quality, long-term and sustainable employment opportunities for people locally.’
The Forest of Dean branch of The Growth Hub, on Vantage Point Business Village in Mitcheldean, opened its doors in October 2021. It is part of a county-wide network offering workspace, free business support and events for businesses.
It is understood the district council will receive £1 million in total over three years from the UKSPF, starting with £119,000 in 2023, £240,000 next year and £641,000 for the final year.