Vestas new research facility under construction on the banks of the Medina at West Medina Mills, Stag Lane. Picture by Peter Boam.
THE future of projects worth millions of pounds to the Isle of Wight could be in doubt after the government called for the South East England Development Agency (SEEDA) to cut its spending for the year by £28 million.
SEEDA, with its counterparts across the country, is to be scrapped by the coalition government.
Although the agency has not been given an end date, it is expected to be within two years and discussions are underway about what will happen to the agency’s valuable projects and massive land assets on the Island.
The Isle of Wight Council said it hoped to play a role in the future of SEEDA sites, which include land at Whippingham, Ryde Business Park, East Cowes and Cowes.
The government is not expected to make a decision about development agency land assets, and what will replace the organisations, until next month.
A spokeswoman for SEEDA said its work to redevelop East Cowes was continuing and recruitment for 160 staff at a Waitrose supermarket, part of the project, was due to start in the coming weeks. Work on the Vestas research and development centre at West Medina Mills, Stag Lane, was still scheduled to be completed by next summer, according to the spokeswoman.
In February SEEDA announced it was to invest £7.4 million in supporting GKN’s project with Rolls Royce to create a £15million research centre on the Island in the next year. That project also received support from the Isle of Wight Council in the form of a land deal with the GKN.
Following the cuts announcement, a SEEDA spokeswoman said they were in discussions with partners about the impact and discussing the future of its land.
"SEEDA is reviewing all of its projects but wants to make sure that if there is an impact it will be minimal," said the spokeswoman.
A GKN spokesman said it was unable to comment on the joint venture with Rolls Royce, but said that SEEDA had been consistently supportive of the company.
Isle of Wight Council chief executive Steve Beynon said the announcement that SEEDA was to be replaced by a local partnership could be a great opportunity for self determination on the Island if the council was able to play a role in the use of SEEDA land.
Reporter: ross.findon@iwcp.co.uk