by David Jones

Transport is more critical to investment decisions by business chiefs than it was five years ago.

This is one of the key findings of a report by Invest Thames Gateway, the lead international investment agency for the Thames Gateway.

The Thames Gateway region consists of a 40-mile stretch of land extending eastwards from east London along the Thames.

In Kent, the principal development areas include Gravesend and Dartford, the Medway towns, Sittingbourne and Queenborough on the Isle of Sheppey.

The report, Smart connections says: "The essential role of transport for borderless business, concluded that cities and regions must invest in transport infrastructure to remain competitive in the fight for investment spend and skilled workers."

It was written by Prof Austin Smyth, head of the Department of Transport Studies at the Westminster University. His findings are supported by the opinions of more than 300 senior international business people, surveyed by leading pollsters YouGov.

Invest Thames Gateway says: "In the face of a global recession which has called into question the future of many transport infrastructure projects, this research reveals the quality of transport infrastructure in a city or region is front of mind in four out of five business location decision-makers."

The "face to face" elements of business afforded by transport networks remain critical to almost half of senior business people despite the increase in virtual contact brought about by 21st century IT systems, according to Prof Smyth's findings.

The report says it will be the ability to deliver integrated transport systems which will distinguish the regional economic successes of the future through the ability to provide fast, easy access to world markets, skilled workers and to bring businesses together quicker.
The report's key findings were:

• 81 per cent of senior business people rate transport as more important than ever
• 63 per cent said transport was essential to attracting an increasingly mobile and demanding workforce

• 52 per cent of respondents cited the globalisation of business as increasing the demand for efficient and integrated transport networks
• 46 per cent responded that virtual business is no substitute for real time face-to-face contact and that holistic transport systems are essential to bringing businesses together
• Half of respondents cited committed government support to transport infrastructure as essential to their future investment decisions.

Gareth John, managing director of Invest Thames Gateway, said: "The report provides vital insight into the crucial role transport plays and will continue to play in the future economic success of locations. The Thames Gateway, which benefits from unrivalled connections to London and mainland Europe, gives the region the potential to become one of the UK's most exciting and well connected business investment location."

According to Prof Smyth's findings, transport infrastructure is seen as the "X factor" in investors' decisions. Nearly half of decision-makers said 21st century integrated transport infrastructure would make or break the economic prospects of a location.

The essential benefits for business of being able to access integrated transport networks were cited as: access to potential customers (56 per cent); access to labour pools (41 per cent); ability to drive efficient operations (39 per cent) and providing a high quality of life for employees (28 per cent).

When considering the make-up of transport networks, respondents defined the ideal investment location of the future as having the following attributes: Access to integrated transport networks (combination of road, rail, ports and air) (62 per cent)

• Proximity to international markets (34 per cent)
• Access to international airports (31 per cent)
• Proximity to a major city (31 per cent)
• Access to sophisticated road and rail networks (29 per cent)
• Commitment to sustainability (17 per cent).

The report also features a strategic review of integrated transport infrastructure in the Thames Gateway, UK. The area benefits from regional, intraregional and international transport links and serves as a gateway between London and Europe. Its transport network links major markets within and beyond the UK by high-speed rail, road networks, ports and air. It is also fully supported by committed government funding.

The major infrastructure improvements that have been invested in the Thames Gateway region have already enhanced the region's overall competitiveness and will continue to contribute to the economic growth of this investment location.