Locate in Kent comments reveals action plan for economic recovery
Locate in Kent, the investment promotion agency for Kent and Medway today (29 June) launched its medium term plan to ensure that the county remains a premier business location for UK and international businesses in the long term. The action plan outlines a series of ambitions and initiatives over the next five years, which will position Kent at the forefront of the economic recovery, fuelling growth and creating job opportunities across the county.
In 2008/9, Locate in Kent assisted a record number of UK and international businesses to relocate to or expand in the county, creating nearly 3,000 jobs, a 23% increase on last year. This year's pipeline of 289 projects remains strong, with the agency recording 14 successes, creating 383 new jobs and taking an impressive 730,000 sq ft of commercial property space between March and May 2009.
The agency's action plan looks in particular at increasing the level of investment from overseas, predominantly from Europe, working with UKTI, SEEDA, Kent County Council and other partners. It will offer products like Launchpad UK, which seeks to secure foreign investment by offering a package of start-up offices and services from local companies.
Paul Wookey, Chief Executive of Locate in Kent, commented: "Locate in Kent has ambitious plans for the county over the next five years and will continue to play a vital role in Kent's economic recovery, by positioning the county ahead of its competitors. In the next five years, Locate in Kent will continue to aggressively target growth and high value sectors, including financial and business services, security, life sciences, film and media and green technologies.
"We need to continue to capitalise on opportunities coming out of landmark events, like the recent launch of the high speed domestic preview services, the go-ahead for the first phase of the €2.2bn offshore wind farm London Array and the London 2012 Games. We need to remain forward-thinking and constantly look at inventive methods and strategies to seize the opportunities as the economy starts to recover."
Kevin Lynes, Cabinet Member for Regeneration and Supporting Independence for Kent County Council, said: "Kent County Council recognises the importance of new inward investment which will create new jobs for local people. The county has the ability to attract the biggest, brightest and best companies and in these current economic times it is more important than ever to be innovative and work together - there are still opportunities to be seized and companies are still expanding. Kent County Council, Locate in Kent and our partners' co-ordinated approach will ensure the county attracts more than its current share of investment and punches well above its weight."
Despite the economic downturn, Kent continues to attract significant interest from UK and foreign investors, including Rolex and Thanet Earth, with Morrisons creating in excess of 1,000 jobs in Sittingbourne.
Source: Locate in Kent
