Transport infrastructure a key factor to investment, says study
Nov 5, 2009
The quality of a city or region's transport infrastructure is the deciding factor for most investors when considering locations for developments, a new study has found.
The research carried out by Invest Thames Gateway revealed that 80% of business location decision-makers said quality transport connections are more important for organisations during the recession.Almost two-thirds (63%) said transport was also ‘essential' to attracting increasingly mobile and demanding workforces, while more than half (52%) cited the globalisation of business as increasing the demand for efficient and integrated transport networks.
The report - entitled Smart connections: The essential role of transport for borderless business - written by Prof Austin Smith, head of Department for Transport studies at Westminster University, claims the ability to deliver such networks will distinguish regional economic success.
‘Transport infrastructure represents the future for both business locations and business. Sophisticated and effective transport networks translate as accessibility and connectivity, making borderless business possible,' he said.
‘In the future, access to integrated transport networks and proximity to international markets, will, undoubtedly, be among the most influential factors for investors.'
The report added that half of respondents cited committed government support to transport infrastructure as essential to their future investment decisions. 46% of those polled said that virtual business was no substitute for face-to-face contact and holistic transport systems are essential to bringing businesses together.
Source: LocalGov.co.uk
