When there are difficult economic challenges, at home as well as
across Europe we need to be working hard to make sure we are as
competitive as possible. For MPs, the country council and the other
local authorities, that means supporting our business community to try
and bring external investment to our area, rather than see it go
elsewhere. It was in this spirit that I have been working to support
the launch of and promote the East Kent “Grow for it” campaign, which
has been led by Kent County Council to encourage business investment
in our area. It is also working to boost awareness of the
opportunities for firms to receive financial support from the
Government’s £35million Regional Growth Fund for East Kent.
On Tuesday this week I spoke at the London launch of the “Grow for it”
campaign at the London Stock Exchange, alongside the leader of the
county council Paul Carter, and the other East Kent MPs. At 8 0’clock
in the morning we were there to press the button to start that day’s
trading on the stock market, and then to encourage business investors
and leaders to come and bring more of their trade and investment to
our part of the country. I believe it is important that we go out and
bang a drum for our community and show how much we have to offer.
As part of this launch event I chaired a panel discussion looking at
the impact of the Regional Growth Fund, where we heard from East Kent
firms who have already received financing in the form of the interest
free loans it is able to offer. This panel included Karl Dodd from HV
Wooding in Hythe who have received a loan of over £1million to expand
the production lines at their engineering business. Wooding’s already
have some blue chip clients, including aerospace companies and formula
one grand prix teams. This investment in their future will create new
jobs and help their business to grow. They were recently visited by my
fellow Kent MP, the Business Minister Michael Fallon who held them up
as an example of the kind of firm that the Regional Growth Fund has
been set up to support. Loans have been made to many businesses from
different sectors, including tourism, food, creative industries and
green technology. You can find out more about the “Grow for it”
campaign and the Regional Growth Fund by visiting its website
www.growforiteastkent.com. Please also let me know if you would like
any help or advice if you are interested in applying to the Fund.
Last Friday I met with Eurotunnel at their offices in Cheriton to
discuss future investments they are looking to make in the Channel
Tunnel terminal. We know that there is considerable capacity for the
Tunnel to handle more traffic, but this of course requires the
infrastructure and equipment to handle it. As well as being a large
employer locally, the tunnel and the rail link that connects it to
London are a vital part of the infrastructure that supports our area.
I welcome there continued support for our local economy.