Locate Guernsey secures funding for three years

It is also now being asked to support diversification of the economy and to promote the open market.

It was launched in 2016 with a three-year budget of £1.2m. from the Future Guernsey Economic Fund, which included money to get it established.

Economic Development has secured £975,000 from that fund over the next three years and might also provide more funding from its own general budget.

The search is also on for a new director to replace Andrew Carey and a senior business executive.

‘Locate Guernsey is an important economic enabler, and it will have a critical role in delivering parts of the new economic development strategy,’ said Economic Development committee president Charles Parkinson.

‘We will be investing more than £1m. over the next three years to strengthen its offer, and the committee believes that the refocused agency will be even more effective in future.’

Mr Carey is moving to a new role outside the States later in the year.

‘Andrew and his team have done a first-rate job.

‘Since its establishment in January 2016, Locate Guernsey has assisted in the move to the island of more than 60 relocations, with an estimated combined value to government of more than £3m., made up of document duty on property sales and income tax receipts on roles newly created by incoming businesses.

‘On behalf of the committee, we wish Andrew well for the future and thank him for his hard work.’

Locate Guernsey’s annual event in London takes place on 11 October at the Leadenhall Building in the City of London.

It will include contributions from individuals and businesses who have relocated to the island with its support.

It will also be attended by Deputies Gavin St Pier, Parkinson and Andrea Dudley-Owen, who will outline Guernsey’s offer as a place to relocate.

Deputy Lyndon Trott, vice-president of the Policy & Resources Committee and chairman of Guernsey Finance said: ‘I spoke at last year’s Locate Guernsey event and I was impressed by the quality of the guests and the event.

‘More importantly, it’s a marketing and promotion initiative that is working.

‘For that reason, the Policy & Resources Committee is pleased to support the Committee for Economic Development’s funding plan.

‘It is important that we support the committee in investing in economic growth.’