Question to the Ministry of Housing, Communities and Local Government:

To ask the Secretary of State for Communities and Local Government, what estimate the Homes and Communities Agency has made of the (a) value to the Isle of Wight economy of and (b) number of jobs protected or created by expressions of interest in the Venture Quays site in East Cowes.

The Homes and Communities Agency is working closely with the Isle of Wight Council and Solent Local Enterprise Partnership and anticipates that:

(a) The development of land at East Cowes will benefit the Isle of Wight through the creation of at least 300 jobs, and around £60 million of private investment.

(b) Around half of the 300 new jobs have been generated by the developments completed to date, and the remaining balance should be secured over the next few years from the remaining phases of development including the proposed marina.