Locate in Kent creates record number of jobs in Kent
Locate in Kent, the investment promotion agency for Kent and Medway, announced its 2008/09 figures yesterday (28 April), showing that it created 2,891 jobs; a 23% increase on last year's figures. During an event in Ashford, the agency revealed it has assisted a record 76 UK and international companies to expand or relocate to the county, contributing nearly £126m to the Kent economy and occupying more than 1.5m sqft of commercial property space. When indirect and retained jobs are added, this totals 5,439 jobs in Kent this year.
The areas of Kent all attracted a similar number of investors, but successes in Thames Gateway Kent and West Kent attracted the most new jobs (1,437 and 951 respectively). Locate in Kent assisted a range of companies from small and innovative start-ups in environmental technologies including Ecoffins, a leading manufacturer of eco-friendly coffins, to large blue chip companies including Morrisons, creating more than 1,000 new jobs in Sittingbourne.
Kent is continuing to attract significant interest from international companies, with a total of 12 foreign investors in 2008/09. The US proved to be the largest international investor in terms of successes, followed by Canada. Encouragingly almost a fifth of active projects in the pipeline are foreign-owned companies; an increase of 4% on 2007/2008. This is testament to Locate in Kent's proactive international investment strategy and close working relationship with SEEDA's overseas representatives and UK Trade and Investment.
Sir Brandon Gough, Chairman of Locate in Kent, said: "Locate in Kent had an excellent year, exceeding its targets on all fronts despite the challenging global financial situation. We believe that investment from overseas companies will be an increasingly important vehicle for economic growth in Kent, further fuelling job creation and supporting local businesses. The imminent launch of high speed rail connections to London and improvement to infrastructure and facilities means Kent is perfectly positioned to attract further international investment".
Peter Gilroy, Chief Executive of Kent County Council, said: "Kent is well-placed to take advantage of capital investment as and when the economy shows signs of recovery. It is imperative that the county continues to demonstrate it is ‘open for business', and we are committed to breaking down barriers to ensure existing Kent companies remain competitive and make the most of their location."
According to the figures, 42% of all investments and a quarter of new jobs were in knowledge based industries. The strongest sectors were business services (13%), followed by manufacturing (11%) and engineering (9%).
Paul Wookey, Chief Executive of Locate in Kent, commented: "The Grant for Business Investment scheme proved particularly popular this year with more companies taking advantage of the free guidance we offer through our grant advisors. It is vital that companies with investment projects continue to fully explore opportunities available to them, particularly in this economic climate.
"Locate in Kent is committed to showing the rest of the business world what the county has got to offer and supporting existing Kent businesses through its aftercare programme. We're extremely optimistic about where our ‘high speed' future is taking us and we are ready to seize opportunities as the economy recovers.
"These record figures are impressive by anyone's standards - it's clear that Kent has all the attributes to attract innovative companies in growing sectors and can compete on a global level in attracting international names and blue-chip investors. Kent has an enviable track record, a bright future and we have the energy and drive to continue promoting it as a great location for business. We plan to work even harder and closer with our partners over the next year to boost investment even further and to ensure Kent is positioned centre stage."
Source: Locate in Kent
