A major new report has revealed that Kent can provide almost a quarter of a million new jobs over the next 25 years – ploughing many billions of pounds into the UK economy.

According to the Investing in Kent for Future Generations report, published by inward investment agency Locate in Kent, the county can deliver a regional economic boost of £23 billion by 2050.

It does, however, rely on significant house-building over the next quarter of a century to fuel the county’s growth.

Based on research conducted by the University of Kent’s School of Economics, the ‘investment portfolio’ report highlights Kent and Medway’s importance to the UK economy going forward and its significance in new and existing industry sectors.

David Brooks-Wilson, chair of Locate in Kent, explained: “Over the next 25 years, Kent and Medway can deliver some 249,000 jobs and over 230,000 new homes.

“Based on those figures, the region can deliver an additional gross added value (GVA) of £23bn over that period, as investment is made, and projects are delivered. That would represent a GDP (gross domestic product) uplift of 0.9% to England’s economy alone.”

GVA is an important measure of a region’s contribution to UK GDP – itself a key measure of national economic performance.

Key to growth will be the delivery of faster distribution and trade through the ports, prevention of future cost-of-living crises through green energy and food production, providing more manufacturing space for firms expanded out of London and adding around one million square feet of science space to underline the county’s position in life sciences.

Adds Mr Brooks-Wilson: “Simply put, this document sets out the bright legacy for Kent’s future generations if we enable the investment that’s needed today, providing an important resource for the region’s decision-makers as they seek policy and infrastructure funding support from Whitehall to unlock that future growth.”

Simon Ryan, investment director at Locate in Kent, added: “Kent has been strategically important to the nation’s prosperity for generations and has the potential to unlock national growth further today.

“The analysis suggests an investment in Kent yields a 13.8% larger contribution in GVA than a similar magnitude investment in other English counties, outside of London. That is why, today, Kent is the UK’s South East Gateway, where investment brings prosperity for the whole country.”

Copies of the Investing in Kent for Future Generations report can be downloaded here.