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Inward Investment Activities Receive Strong Commendation

Date
2 February 2012

The publication of a comprehensive review of Jersey Enterprise’s inward investment activities, by renowned inward investment specialist Adam Breeze, has concluded that the Inward Investment team is out-performing in the areas of enquiry handling and investor attraction compared with other jurisdictions.  Providing a valuable benchmark for Jersey against global competitors, the research and findings also identified areas to develop further, to ensure Jersey is maximising its inward investment opportunities in 2012 and beyond.

The report noted a number of successes for the team between 2008 and 2010:

87 new companies were established on the Island during this period.

A total of 900 job opportunities were created.

Since launch in 2008, the investment team has seen a year on year increase in both new enquiries and total enquiries handled.

The team is at the forefront of Jersey’s diversification policy.  Business has been attracted already from: oil, gas and mining; retail; fulfillment and e-gaming.

The team’s enquiry handling process scored as robust and effective with a very high degree of customer satisfaction.

Jersey Enterprise’s inward investment team has made excellent progress, provides outstanding service levels and generates significant added value for the Jersey economy.

Commenting on the importance of inward investment activity to the Island, Minister for Economic Development Senator Alan Maclean explained: “Economic development in terms of business growth, diversification and job creation is the cornerstone of our future growth strategy.  This report confirms that inward investment plays a key role in achieving our goals, particularly when you note that of the 900 jobs licenced over the past three years, the vast majority are for locally qualified people.”

Following publication of the report and consultation with their various audiences, Jersey Enterprise is now working on its inward investment strategy for 2012-2014.  With effect from 1st March 2012, the inward investment services currently provided by Jersey Enterprise will be marketed under the brand ‘Locate Jersey’.

Wayne Gallichan, Director of Inward Investment & International Trade at Jersey Enterprise says: “We have had a successful four years and the priority now is to build on the strong foundation and maintain momentum.  Jersey’s reputation as being ‘Open for Business’ is a strong message, under an evolved name of ‘Locate Jersey’, we are focusing on our off-island network development and communications, the development of a robust on-island business ambassador network and the nurturing of a strong ‘aftercare’ service for those that have already been attracted to the Island.”

For further information, please contact Wayne Gallichan - w.gallichan@gov.je