Plans to lure City bankers and hedge funds to Chichester ‘have not been able to proceed’ according to West Sussex County Council.
Last June the Observer revealed how the authority was hoping to pitch the city as an ‘alternative centre for high-end finance’ for smaller firms who might want to move out of expensive properties in Mayfair and other parts of London.
The proposal was looking to unlock private investment to build a dark fibre network in Chichester to deliver some of the fastest broadband speeds in the country.
It was one of ‘five bold ideas’ but forward by the county council to boost economic activities across West Sussex.
However on Friday, leader of WSCC Louise Goldsmith said: “As you know that particular project we have not been able to proceed with that.”
However she told county councillors they were looking at the possibility of introducing some ultrafast broadband to West Susse, with an initial focus on Adur and Worthing.
Michael Jones (Lab, Southgate and Crawley Central) said: “Are we now going to refer to the four bold ideas or is there a replacement one?”
Mrs Goldsmith replied: “With the gigabyte one, that’s five.”
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