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Economic award nomination

Tuesday, July 17, 2007

The Isle of Wight Economic Partnership has just been voted a finalist in the Regeneration and Renewal Awards 2007 in the category “Best Economic Development Organisation”.

The awards are run by Regeneration and Renewal Magazine, “the” trade publication for both private and public sector organisations working in the economic development and regeneration fields, are open to economic development organisations from all across the UK.

Paul Rudling, Chairman of Isle of Wight Economic Partnership said, “This is encouraging news which reflects the good work and solid achievements of the IWEP”

The entries are judged on achievements and activity over a twenty month period, as well as the day to day activities of the organisation. In the case of the Isle of Wight Economic Partnership these achievements have been impressive:

• Written the new economic strategy for the Island “Creating More Value” currently in final consultation phase.
• Developed the “Vision” and marketing strategy for The Bay – a new regeneration programme for Sandown & Shanklin Bay
• Attracted 5 new inward investments
• Helped create a further 3 new businesses
• Creating 149 jobs (full time equivalent)
• Inspired more than 1100 young people through Inspire and the Gipsy Moth projects
• Helped generate £4.3 million pounds worth of media coverage for the Island
• Harnessed approximately £4.6 million of private and public sector spend to market the Isle of Wight.
• Developed a Pan European portal for the composites sector bringing together academia and major corporate uses such as Renault.

Paddy Weir and Rob Sauven of Vestas Blades commented “IWEP have worked with us for over 5 years, helping with our initial relocation to the Island, recruitment and opening doors for us – they are an organisation that focus on business and helps get things done”

Much of IWEP’s work is funded through the South East England Development Agency (SEEDA) for various activities and projects. The Partnership also receives funding from the Isle of Wight Council to undertake economic development on behalf of the authority and the remainder comes form commercial activities such as the Innovation Centre serviced office complex.

The final takes place in London on 11th September 2007, when we hope the Isle of Wight will scoop the top award for “the organisation that can demonstrate the most effective economic development impact in the specified period.