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SEEDA Exceeds Targets to Support the South East out of Recession in 2009/10

20 July 2010

The South East England Development Agency has published its annual report for 2009/10. The report demonstrates that the Agency delivered successfully on its aim to support business and local economies across the South East in meeting the challenges of the economic crisis.

SEEDA met, or substantially exceeded 14 of its 16 targets for 2009/10, including:

• 5,700 new businesses created
• Over 10,000 jobs created or safeguarded - doubling the target
• 52,000 businesses supported in improving their performance.

SEEDA continued to support innovation and growth, for example:

• Supporting Vestas Technology to develop a global R&D centre on the Isle of Wight, which will provide high quality jobs a green technology sector with enormous future potential
• Leading work to establish the new International Space Innovation Centre at Harwell
• Over £26m raised for business innovation and growth by the Innovation and Growth Teams, established by SEEDA and backed by partners including local authorities, universities, and the business community.

Highlights of regeneration projects include:

• Work starting on phase two of the successful University Centre Hastings, supporting the local economy by providing capacity for over 1,000 students.


SEEDA’s Chief Executive, Pam Alexander comments:

“2009/10 was a challenging year for the business community in the South East as it dealt with the harsh realities of the global recession. A vital South East economy is crucial to national economic recovery. SEEDA has sought, with demonstrable success, to provide real help for businesses in these difficult times and establish some strong foundations for future delivery mechanisms. 

“Last year, we worked both smarter and harder than ever before, in partnership with the business community, local authorities and many others.  By changing the way we do things we were able to respond to new challenges, achieve new goals and beat the majority of our toughest ever targets.

“SEEDA is now, like other RDAs, preparing for its final phase. We remain committed to supporting our partners in local authorities, businesses and the community to ensure the projects they value are taken forward, bringing about real, lasting change for the South East – the engine room of the UK economy.”

Ends

Case studies:


The case for space
SEEDA coordinated the work of a cross-industry group to secure £12m of Government funding for the development of an International Space Innovation Centre at Harwell. In addition, £28m of funding was secured from SEEDA, the Technology Strategy Board, Science & Technologies Facilities Council, and over £11m from industry.

The centre builds on opportunities created by the European Space Agency‘s decision to locate at Harwell and will create a critical mass of Space capability in the UK.  The project will include a business incubation facility and a collaborative R&D programme to encourage SMEs to access new business opportunities in Space.  The project is expected to create around 1000 new jobs over the next four years. SEEDA has driven forward the UK’s share of this competitive industry which has grown three times faster than the rest of the economy.


New technologies for the Isle of Wight
The year saw two major achievements of the Isle of Wight, contributing to SEEDA’s aim of creating a centre of composites excellence on the Island that will deliver high-value jobs for many years to come. The development of the environmental light weight fan project at GKN will bring up to 250 jobs and the development of a wind turbine technology centre at Vestas will lead to 400 hi-tech jobs.

 

For more case studies, please contact the SEEDA press office on 01483 470 155.

For more information please contact our press office

Tel: 01483 470155