Andrew Turner, the Island’s MP is urging Ed Miliband MP, the Secretary of State for Energy and Climate Change to target financial and other support at local businesses working in the renewable Energy sector. Where businesses receive public money to encourage them to relocate to the Island, they should be ‘tied in’ with long term agreements and face stiff penalties if they default on them says the MP.
Following the final announcement that the Vestas factory is to close, with the resultant loss of Island jobs, Mr Turner has received approaches from companies who believe they may be able to relocate here and take advantage of the highly skilled workforce. Some have also enquired what assistance may be available from national government to help them re-locate. These enquires are being dealt with by the South East England Development Agency (SEEDA), who are co-ordinating the Government’s response to the closure of the Vestas factory and together with the Isle of Wight Council are responsible for the economic development of the Island.
Andrew Turner said :
“I am very glad to hear that a number of businesses are interested in relocating to the Island, and would encourage them to do so. However where they are seeking public money to support their plans we need to be very sure that it delivers long-term gain for the Island’s economy, not just a short-term fix for the current problem. If such companies decide to up-sticks and move elsewhere any grants they have received should be repaid in full (and possibly index-linked). That would not force them to stay, but they would think much more carefully about moving away. It would also mean that tax-payers’ money ear-marked to support the Island’s economy would be available for re-investment in the future if companies such as Vestas do decide to leave.
“Even better, if there is public money available to develop local employment the Government should be using it to encourage companies already committed to the Isle of Wight. They are far more likely to stay here, although there should still be a system that ensures that public money is repaid if they simply decide to move elsewhere. A number of local companies have told me they have future plans to expand. They should be given all possible help and encouragement”.
END Contact : Andrew Turner’s office 01983 530808
