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V28-330 : INWARD INVESTMENT

The report of the Chief Executive was in response to a question raised at the first meeting of the Panel as to the priority of Inward Investment to the Council. The report set out the hierarchy and protocols by which Inward Investment enquiries were handled in the Region.

The Chief Executive advised that another priority of the Economic Development Unit was the aftercare of existing businesses. The Chairman noted the conclusion to paragraph 5.5 of the report, which informed that the East of England Investment Agency had no remit to prioritise areas of greatest investment need. The Chairman felt there could be a part for the MPs and MEPs to play in re-formulating the Agency's role, and urged cross-party lobbying on this.

RECOMMENDED

That the Council lobby the Suffolk Development Agency's Inward Investment Task Group to tailor its marketing activities to ensure that the needs and opportunities of the Waveney area are understood and marketed effectively to potential investors, and to exert pressure on the East of England Investment Agency to ensure this.

Volume 28 Minute 330

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