A development agency says it is on course to make Oxfordshire part of one of the ten strongest and most prosperous areas in Europe.

Anthony Dunnett, chief executive of the South East England Development Agency, said it had delivered "a quantum shift in performance in its first year", increasing investment in the region by 70 per cent, from 42m to 72m.

"Seeda also launched a major initiative to promote the benefits of Oxford University as a centre of commercial research and development in science and technology," he said. Seeda plans to introduce a region-wide network of up to 30 "enterprise hubs", acting as incubators for dynamic new firms. These will provide a local support network for entrepreneurs, promote innovation and enterprise, and develop local clusters of businesses in specific industry sectors.

The director of enterprise development for Seeda, Barrie Giles, was the former chief executive of the Abingdon-based Heart of England Training and Enterprise Council and has an in-depth knowledge of the Oxfordshire economy.

He said: "To turn the theory into reality we need to involve as wide a range of business and community organisations as possible."

Story date: Monday 10 April

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