Date: Wed 20th October, 2010
Venue: Loughborough University, Stephensons Lecture Theatre, Denis Rooke Building, Holywell Park, Loughborough, LE11 3GR
Number of Guests Attended: 70
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Panel to include:
Mike Chambers, Finance Manager & Director, 3M Health Care
Angus Laing – Dean of Business and Economics, Loughborough University
Neil Etherington, associate partner, Rothera Dowson
David Hughes, Chief Executive, Prospect Leicestershire
Paul Jenkinson, Regional Manager - East Midlands, Connect Midlands
Around 70 professionals packed into the lecture theatre at Holywell Park at Loughborough University to listen to the panel’s views on the future of the town. The forum took place just hours before George Osborne stood up and announced his Spending Review, so, understandably, there was some caution on show.
Angus Laing was quick to praise Loughborough’s reputation as a market town, however. He said: What we have in the East Midlands is a very strong university base. High quality graduates tend to have a strong entrepreneurial spirit, which can lead to prospects of genuine organic economic development.”
Talk soon turned to Astra Zeneca’s recent decision to close its plant in the town. David Hughes said: “I’ve lived in Loughborough for ten years, and I realise the impact of the closure is severe. In monetary terms, it’s going to cost the sub-regional economy £45m, and will have an impact not just locally, but nationally.”
Mike Chambers agreed, adding: “The loss of Astra Zeneca is tragic – it was a good employer in Loughborough, and attracted a lot of support businesses. However, I do understand the decision from a corporate point of view. Now, it’s all about what the local agencies can do to market the site. It’s a ready-made facility for a similar company to move into, but the chances of that happening are very low, of course, so I doubt we’re going to see like-for-like. We could see some small spin-offs, but it’s a world class facility and the pain of its closure will take years to heal.”
Neil Etherington stressed the need to revamp the town’s main gateways. He said: “Loughborough station has one of the worst exits in the East Midlands, and its redevelopment will really bring the town forwards. The town really needs to listen to local businesses, and help them generally.”
Paul Jenkinson on the other hand thought that a quick decision on any local LEPs was key: “We’ve all been in a vacuum for the last few months. We all need to know what the LEPs will be responsible for, and I think that needs to happen quite quickly, as it’s something of a concern.”