Date: Thu 21st May, 2009
Venue:
Number of Guests Attended: 85
More than 100 business people crowded into Derby’s Hallmark Hotel for Insider’s latest Economic Forum.
They heard a lively question and answer-based discussion chaired by Insider editor Andy Coyne and featuring well-known local property developer Peter Gadsby and Marketing Derby director John Forkin.
The debate ranged from city centre office development to university engagement with business via Emda’s contribution to the Derby economy and the government’s decision to put its latest train-building contract into the hands of a Japanese consortium rather than local train maker Bombardier.
Forkin described that decision as astonishing. “We are in a recession and we have the skills, we have the capabilities and we are using taxpayers’ funding to fund a Japanese consortium. It’s one of those you can’t get your head around,” he said.
“All of the research and development will be done over there and most of the construction will be done over there. It is a decision that goes against every grain.
“It is really important that Bombardier wins the next big contract, which is Thameslink.”
Gadsby, meanwhile, suggested the cost of property in Derby is a big advantage over its rival cities. “Derby has very cheap affordable housing. Per square foot it is significantly cheaper than Nottingham and, to some extent, Leicester. It’s a very even city and there is no boom and bust,” he said.
But he admitted that achieving big inward investment wins will not be easy for the city.
“Nottingham is a city of half a million people and Derby is a quarter of a million so that gives you a perspective of where people are going to look when they look at core cities. It will be hard to get people to commit to putting 500,000 sq ft in Derby,” he said.
