FIGURES published by the Department of Trade and Industry show that the South East England Development Agency (SEEDA) has exceeded its annual targets.

According to the figures, SEEDA created or safeguarded 4,002 jobs, brought 451 new businesses to the region and attracted £37.3m of private sector investment in the financial year 2003-2004.

Industry and Regions Minister Jacqui Smith said: "These excellent results show that SEEDA is making a real difference to economic development in the region. This is good news for everyone and a credit to the hard work and dedication of the agency and its partners across the South East.

"The Government is increasing the funding to the regional development agencies from £1.8bn to £2.3bn by 2007-2008 and I am sure that SEEDA will continue to make good use of its share to boost the region's economy."

SEEDA's chairman Jim Brathwaite, CBE, said: "These great results demonstrate what an impact SEEDA has made in the region and how important it is that we continue to build upon this success."

Jeff Alexander, SEEDA director of business and international, added: "SEEDA has doubled the number of businesses it has helped to improve their performance through its range of major initiatives. For example, the Manufacturing Advisory Service (MAS) provided advice to over 2,400 companies and worked in depth with more than 400 to achieve average productivity increases of 38 per cent."