£2.2million is being invested in projects to enable economic growth in Essex which will deliver 5,000 new jobs to the county and help 50 new businesses relocate to Essex through Essex’s enhanced county wide investment team INVEST Essex.
INVEST Essex, which was previously an in-house Essex County Council service, has a proven track record going back over 10 years securing investment and businesses into the county. It is now an independent body and, together with the Essex Technology and Innovation Centre in Ongar, it will deliver services for ECC and our partners across the Greater Essex area which includes Southend and Thurrock.
The £2.2 million project will be delivered by the Let’s Do Business Group which already delivers the inward investment service in East Sussex and will be part funded by the European Regional Development Fund. Starting this month, the project will run for three years and one of the first changes will be that INVEST Essex will shortly move into new premises in Chelmsford.
This exciting new project will offer a host of benefits to residents and businesses in Essex including:
- Helping over 50 businesses to locate in Essex.
- Providing nearly 5,000 more jobs over the three year period to not only lower unemployment levels but also increase opportunities for young people leaving school. The ERDF funding will enable support to provide 180 jobs within SME businesses, with additional funding from ECC supporting jobs across all businesses sizes.
- Developing strong links between different sized businesses so they can offer support and identify opportunities to work together more closely.
- Offering affordable rental space for new businesses to help them establish in the county.
- Creating better links and signposting to providers who can support local businesses.
Cllr Kevin Bentley, Essex County Councils cabinet member for Economic Growth, Skills, Infrastructure & the digital economy said: “Essex is a county of opportunity, we are well ahead of the UK average in terms of start-ups of new enterprises and are now receiving interest from a number of high profile large companies with projects valuing up to £300million. Essex is the 8th largest economy in the UK and so this investment is crucial in supporting businesses develop and grow in Essex and in supporting the economy more generally.
INVEST Essex are well placed to help support this work given their track record, including the opening of one of Amazon’s largest warehouses in the UK. INVEST Essex were instrumental in the early stages of this project identifying the location for Amazon at the London Distribution Park at Thurrock.”
Graham Marley Chief Executive of the Let’s Do Business Group said ‘We are delighted to take over management of the INVEST Essex service. The team have already demonstrated their ability and proactive support within the Essex business community. Through our involvement we will further enhance and develop the service by additionally providing support to start up businesses and providing an access to finance service, helping new and established businesses to find the right financial support to help businesses to start and grow.”