Isle of Wight Economic Partnership to Restructure in 2008. The Isle of Wight Economic Partnership will be moving forward with a new structure and new focus in 2008. Changes in local policy and funding have led to the need to make significant changes. Paul Rudling, Chairman of IWEP says, “We have been made aware that funding for IWEP is likely to change, therefore the Board of Directors have resolved to restructure the company to ensure its viability in the future” Mr Rudling continued, “this as an opportunity to evolve the company and focus on running the Innovation Centre and developing the support it gives to business. We will continue to engage with and support business and work with our partners for the good of the Island” The new shape of the company has not yet been finalised, though inevitably it will mean a reduction in personnel over the coming months. Mike King, Managing Director of IWEP will leave in order to give the company the best chance for the future. Graham Biss, Acting Chief Executive of the IWEP will manage the transition and evolution of the company. Mr Biss said, “The Partnership has been extremely successful over the years with exceptional support from the business community. IWEP has a sound base on which to build and we are looking forward to continuing working with our partners to serve the Island in the future.” He continued “We want to thank Mike King for his work over the last ten years which amongst other things has resulted in us winning the Economic Development Organisation of the Year Award for 2007 and acknowledge Mike’s significant role in achieving this and wish him all the best for the future.” IWEP has been at the forefront of economic development on the Isle of Wight for almost twelve years and has achieved a great many successes, including: securing and delivering over £26 million pounds worth of funding for regeneration, community and rural projects; developing and running the Innovation Centre, which has helped thirty young businesses to expand and flourish; winning a 2.5 million euro project to put the Island at the centre of a pan European Virtual Institute for Composites and have attracted 27 new businesses to the Island creating approximately 900 new jobs.
- ends – For more information contact: Pippa Phillips Marketing & Communications Manager Isle of Wight Economic Partnership 01983 535819 07967 705697 pippa.phillips@iwep.com