South: Solent LEP in contention for assisted area status
The Government has responded positively to the Solent LEP's bid to secure assisted area status for Portsmouth Harbour and the Isle of Wight, and the new assisted area map has been submitted to the European Union (EU) for approval.
The Solent LEP has strongly contended that the area around Portsmouth Harbour, covering the waterfront on both the Portsmouth and Gosport side, and areas on the Isle of Wight, would benefit from assisted area status as both have a strong, modern manufacturing base and there is real potential to catalyse the areas.
The map includes both the Isle of Wight and Portsmouth Harbour area; which has been included as one of only two areas in the UK for consideration under the EU special dispensation criteria.
Portsmouth is a critical economic hub for the entire Solent region and the Dockyard has always been at the heart of the city. Following the announcement that shipbuilding operations would cease at Portsmouth Dockyard in 2014, it has been clear that significant support would be required to assist with rebalancing the economy and the Solent LEP welcomes the Government recognition of this in finalising the new map.
The LEP also welcomes the inclusion of 28 wards on the Isle of Wight on the map, as the Island economy faces unique geographic challenges which increase the cost of doing business and result in seasonal employment for residents.
It is essential that appropriate levels of support are in place to deal with both the geographic challenges on the Island and economic shock linked to the shipbuilding announcement at Portsmouth Dockyard. Both areas have a talented workforce ready to take advantage of the opportunities this designation will create.
Under the previous designation period, the Solent had no areas classified for the status and, if agreed with the EU, 2014 to 2020 will be the first period the Solent has ever had two areas included.
Gary Jeffries, Solent LEP chairman, said: "The Solent LEP has set out a plan for growth under our Strategic Economic Plan, Transforming Solent, which will see us build on our strengths and plan towards a more ambitious future. It has long been recognised that the local area has significant strengths in advanced manufacturing with particular specialisms in marine and maritime, aerospace, and defence electronics.
"The news that the UK has supported our bid is very welcome boost, and we will now be working with colleagues in government to ensure that the status can be secured in the final negotiation with the EU."
