Together stronger: how the local authority’s new Regeneration programme aims to attract investment and keep as much spend on the Island as possible.
By Chris Ashman, the new director of regeneration at County Hall
I want to kick start a number of regeneration projects with both the public and private sectors for the benefit of the Island’s community. The Isle of Wight Council’s new Regeneration programme will involve adopting a more commercial approach to the use of the council’s land and assets, being bold and imaginative in developing delivery partnerships where appropriate and being diligent in achieving best consideration for the authority. The resulting increase in economic activity will present new opportunities for all Island businesses. One business even suggested my job title might be changed to “Director of Rejuvenation” building on the strengths of the Island economy and avoiding what they viewed as the negative connotations associated with the “R” word.
There clearly are some great strengths in doing business on the Island, which are borne out by the range of blue chip, sector-leading organisations that wisely choose to be based here. At the forefront of their continued commitment appears to be the quality of life that can be enjoyed, the resulting quality of staff they can attract or recruit locally and also good ICT connectivity. This positive message seems to be overshadowed by key data which shows wage levels and business productivity lagging behind the mainland.
As part of the regeneration programme there will be a need to grow the numbers of these examples of cutting edge businesses in our local economy. We want to encourage those who are already here and enable them to grow, as well as celebrating their success in order to help attract others. We are already working with the IW Chamber to develop an up to date “Investment Prospectus”, to sell the opportunities the Isle of Wight offers for relocation and investment to the rest of the world, complementing the Solent LEP and UK government’s post-Brexit efforts.
Attracting new investment will be crucial to growing the number of businesses, creating jobs which as a result will reduce the benefit bill. Helping our existing small business community to grow and prosper will also be key. Using the spending power of the council and other public sector partners to procure more local goods and services has a major impact on delivering a “circular” economy, keeping as much spend on the Island as possible. The council already has good track record on this and I am anxious to improve it even further. If every small business on the Island recruited one more employee or committed to hiring an apprentice this would have a major impact on the Islands future financial viability. Improving links between schools and businesses are clearly an important, getting the message to young people that life on the Island can involve having a successful, prosperous career in a range of sectors.
I took up post as the new Director of Regeneration on the 30th January and in the first two months I have tried to put aside as much time as I can for meeting as many businesses as possible, large, small and in between. As a newcomer to the Island I have been struck by the passion and enthusiasm of all those I have met with everyone anxious to offer their help, advice and ideas for making the Island an even better place through regeneration. We will seek to keep everyone informed of these as the programme develops, through the excellent networking forum that the IW Chamber of Commerce provides. As the motto for the Welsh football ( Euro 16 semi finalist!) team and the Solent LEP rightly and coincidentally proclaims, we will be – Together Stronger!
