Locate in Kent, the agency that has spearheaded inward investment and job creation across the county for more than 25 years, has announced it will enter voluntary liquidation amid rising costs and dwindling national funding.
In a statement, David Brooks Wilson, chair of Locate in Kent, said: “Kent and Medway have long been considered a leading location to establish and grow a business.
The county offers significant business opportunities across thriving sectors such as food & drink, creative & digital, manufacturing and life Sciences, alongside strong logistics, tourism and viticulture industries.
“This is complemented by access to a highly skilled workforce, a cost-effective environment, high-quality commercial property and excellent connectivity to London and Europe.
“For more than 25 years, Locate in Kent Ltd has been the agency responsible for promoting the ‘Kent and Medway opportunity’ to national and international audiences. We have worked closely with districts across the area to secure substantial inward investment by attracting new businesses, supporting business growth and helping to create new jobs in the region.
“Since beginning our work to champion this outstanding region, we are proud of the work our team has achieved in helping around 1,130 companies invest here and supporting the creation and retention of 70,165 jobs and substantial economic value to the region.
“This, in addition to collaborating with key stakeholders in Kent and Medway Councils to support major infrastructure projects that open the area up to increased future investment.
“All of this has taken place against a backdrop of rising costs and reduced national funding. Government attention and spending continue to focus on areas that have been awarded as areas for devolution.
“It is within this context that the Board has reluctantly concluded that Locate in Kent is no longer financially viable in the required term and has made the difficult decision to begin the process of voluntary liquidation.
“This decision has not been taken lightly. It reflects a challenging set of environmental and financial circumstances and forms part of a structured plan to responsibly conclude our business activities.
“We have a strong and talented team, and on behalf of the board, I want to sincerely thank all the staff for their dedication, hard work and belief in our mission. Their contributions have made a lasting impact, and we are incredibly proud of what we’ve achieved together.
“Our priority during this transition is to support them and to protect the good work they have done, as well as to communicate with key stakeholders, funding partners and suppliers with openness and transparency.
“Kent Housing and Development Group, chaired by Nick Fenton and Kent Developers Group, chaired by David Brooks Wilson, will continue to operate separately to Locate in Kent. We will be working closely with professional advisors to commence this process and will provide updates as necessary.”
