Innovation UK > News > Innovation UK Vol6-1 > Isle of Wight

A unique place

The Isle of Wight is less than 5 kilometres from the south coast of England with sea travel connections to Portsmouth, Southampton and Lymington. London is just two hours away by high-speed ferry and train, while Southampton Airport, just 15 miles away, offers direct flights to nearly 50 destinations.

As part of England?s South East region, the Island is part of one of the wealthiest regional economies in the world. The Isle of Wight economy has grown significantly in the last 10 years.

Our success has been based on our key sectors: aerospace and defence, marine and advanced engineering, and renewable energy. Key Island businesses include BAE Systems, GKN Aerospace, Vestas, Gurit and South Boats.

Their commitment to the Island reflects:

• A skilled, loyal and experienced Island workforce, plus the ability to attract specialist workers from the neighbouring high-technology south Hampshire micro-economy, and from further afield.
• An impressive record of innovation and technological development, backed by proximity to universities, notably Southampton ? one of the UK?s top 15 research universities with its recently launched national centre for marine sciences.
• Available land and premises, ranging from managed office space to greenfield sites and from R&D facilities to logistics opportunities.
• Lower overheads: more affordable labour costs, business rates, and property costs compared to much of the South East.
• A marine transport infrastructure, allowing easy transport on and off the Island of both bulk and high-value-added items.
• A great quality of life, beautiful natural environment, extraordinary recreational opportunities, and shared cultural and ecological values.

An established renewable energy sector

The Isle of Wight, sitting at the centre of the South Coast?s marine economy, is perfectly positioned to be a thriving hub of activity for the renewable energy sector. We start from strength and we offer experience and resources. Over the past decade, hundreds of jobs have been created and millions of pounds invested in the Isle of Wight?s renewable energy sector. We are now seeking to build on that. We are looking to expand our offshore wind, wave and tidal capabilities, together with our bio-mass sector.

The Island already has an emerging expertise in renewable energy technology and associated activities. Blade manufacturer Vestas is currently investing in a major research and development centre for offshore wind technology. Gurit is a worldwide leader in composite technology and a tier 1 supplier to the wind industry. Its UK operation is based on the Isle of Wight. South Boats is an Island-based company specialising in the production of boats to maintain off-shore turbines. Other Islandbased companies are involved in or examining bio-mass opportunities and tidal technologies. Two sites have been identified for testing and developing tidal energy devices near Fort Victoria and St Catherine?s Point.

Island companies also benefit from the capabilities of neighbouring Solent businesses, for example in the development of next-generation turbines, but also in the provision of port facilities, engineering services, foundations, cabling, offshore electrics, maintenance, shipping and other services. Reflecting that, we are working with our sub-regional partners to bid for Low Carbon Economic Area status. The aim is to pull together national, local and regional agencies to focus on accelerating the growth of low-carbon industries, supply chains and the necessary skills base.

Helping businesses to invest & prosper

We welcome investment enquiries from companies who expect to flourish and who want to cluster alongside others in the renewable energy sector and in related activities, to their mutual advantage.

The Isle of Wight Council, on behalf of the people of the Island and in collaboration with regional and national partners, manages an inward-investment service tailored specifically to the needs of companies offering renewable energy and associated activities.

Services include:

• An integrated planning, property and development package;
• Assistance with infrastructure & development projects;
• Workforce recruitment and support in relocating key personnel;
• Local & regional supply chain linkages;
• Introductions to our regional partners;
• Assistance with financial and business support;
• Local public relations advice;
• Economic, labour force and market intelligence.

For further information, please contact:
John Metcalfe,
Deputy Director, Isle of Wight Council
Tel: 01983 821000
E-mail:
Website: www.iwight.com/renewables