Prowse Develops Inward Investment Strategy for the Gatwick Diamond
24 April 2019
Prowse & Co. has completed a project commissioned by the Gatwick Diamond Initiative to investigate the latest trends in global inward investment and identify a new place marketing strategy for the airport economy in a post-BREXIT world, to ensure it continues to thrive.
As part of the consultancy project, Prowse has assessed the current Gatwick Diamond ‘inward investment offer’ to understand how its key sectors could be linked to spread the benefits of inward investment and exports across Sussex and Surrey.
The consultancy also looked at how the Gatwick Diamond offer compares to other UK and global locations. Specifically, how the Gatwick Diamond initiative, a business-led public-private partnership, can evolve and develop a location differentiation brand strategy, taking advantage of the UK Government’s Sector Deals.
The research found that competition is increasing nationally and globally with locations committing large resources and budgets to attract Foreign Direct Investment. The data showed that there is greater potential for the Gatwick Diamond to be promoted as an international business location and that national sector plans and industrial strategies present an opportunity to build new collaborations and access funds.
Two key location differentiators for the South East England location are its proximity to London and to London Gatwick Airport. Prowse & Co. has recommended a holistic approach is taken by policy-makers across the region’s key sectors to counter threats of disruptive AI technologies, whilst creating new opportunities for innovation and inward investment around emerging sectors.
Rosemary French OBE, Executive Director of the Gatwick Diamond said: “It is clear that significantly more collaboration is required across business, government, business sectors and educationalists to ensure the Gatwick Diamond has the skills and foresight to retain and attract businesses. We are hopeful that by working in partnership with Coast to Capital LEP, we can make a compelling case to national Government around key sector deals where the Gatwick Diamond has a competitive advantage.”
Joanne Rogers, Managing Director of Prowse & Co. who led the consultancy project said that the Gatwick Diamond Initiative also has an opportunity to work with developers to influence the marketing of strategic sites to help attract inward investors and encourage a varied mix of employment space for companies of all sizes.
The report findings have been shared with economic development policy-makers from local authorities in the Gatwick Diamond region across Sussex and Surrey, and it will be used to inform the direction of the Coast to Capital Local Economic Partnership’s industrial strategy for the Gatwick Diamond area.
View report here
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