National award for inward investment
Friday December 13th, 2019
Hampshire County Council has won the Best Implementation award from the Institute of Economic Development (IED), the UK’s leading independent professional body representing economic development and regeneration practitioners, for its role in securing – in a highly-competitive site selection process – a new £45 million facility at Farnborough Airport for leading US executive jet manufacturer Gulfstream.
Hampshire County Council, in partnership with Enterprise M3 Local Enterprise Partnership and Rushmoor Borough Council, developed a public sector support offer to sit alongside the commercial proposition from Farnborough Airport in order to help secure Gulfstream’s investment into the region.
A strategy was developed to demonstrate the partners’ commitment to creating investment, jobs and skills in Hampshire, and enhance the opportunities for SMEs in the local supply chain. This centred on a package of support for Gulfstream to secure the project; measures to support the relocation of existing staff to Farnborough; and provide the aerospace giant with access to new skills, talent and supply chains.
The strategy around developing skills and talent has been implemented effectively in that by working in partnership with Gulfstream, and other locally-based aerospace companies, the partners have been able to identify new opportunities to ensure the sector has the right future skills and talent.
This has led to Farnborough College of Technology, supported by Hampshire County Council and Rushmoor Borough Council, successfully bidding for £2.5 million of financial support from the Enterprise M3 Local Enterprise Partnership to deliver an Aerospace Research and Innovation Centre at the College. The new facility, set to open in 2020, will be dedicated to aerospace education, training and innovation, developing skills that ensure companies remain productive and innovative in competitive markets.
Councillor Rob Humby, Deputy Leader and Executive Member for Economy, Transport and Environment for Hampshire County Council, commented: “The Gulfstream project represents the largest single investment ever made by Gulfstream outside of the US and is one of the most significant inward investment projects in Hampshire in recent years. The relocation of Gulfstream’s business to Farnborough provides significant economic impact and benefit to the Rushmoor borough and wider Hampshire economy by creating high-value job and skill opportunities for up to 600 people. We are proud that our own contribution has been recognised in winning the IED Best Implementation award.”
IED Chair Bev Hurley said: “We would like to congratulate Hampshire County Council on winning our Best Implementation award for 2019. This year the category was packed with examples of business intervention and support programmes, and many demonstrated strong project support and demonstrable impact. However, the winner is an organisation that worked tirelessly to secure one of the large foreign direct investment projects into the UK over the recent past against a challenging economic backdrop.”
Hampshire County Council’s success was announced at the IED Annual Awards 2019, staged as part of the IED Annual Conference in London, on 4th December.
Business Hampshire is the Economic Development service for Hampshire County Council.