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Nottingham Economic Forum 2010
Around 100 people attended the Nottinghamshire Economic Forum, held this year at BioCity. On the panel were Wyn Morgan, associate lecturer in economics at the University of Nottingham; Peter Hogarth, international trade director (East Midlands) at UKTI; Diana Gilhespy, executive director of regeneration at Nottingham Regeneration; and Ron Lynch, regional director of the Institute of Directors.
Hogarth kicked off the discussion by pointing the way forward for exporters post-Emda and Business Link. He said: “Already this year exports have grown by 2.5 per cent. The whole economy will grow by 2.5 per cent this year, so it’s clear that international trade is a way out of the economic climate. There are questions over the future of Business Link but something will need to take its place in some way. There is talk of growth hubs – we need something to help people starting up in new businesses and improved information to help them move forward.
“East Midlands Airport is the biggest pure freight airport in the country. We have to reduce the congestion. We cannot expect people to fly from London to Nottingham and then spend the same amount of time sitting on the A453 waiting to come into the city. People won’t want to come back.”
Diana Gilhespy said that inward investment would continue after her organisation had disappeared. She added: “It took three years for Changan to come to No1 Science Park – and they brought 250 people. We have to continue to create inward investment opportunities. This is one of the biggest challenges going forward.
“We have iNETS which have the specific job of making connections between companies and universities. It’s about researching ideas and then finding the finance for those ideas.”
Ron Lynch said that the business community needed a road map going forward: “We want a degree of certainty. It will have an effect on business. My main concern is that there is a period of inertia up to two years after a recession which is not good for the economy.
“It is not just critical for Nottingham that something happens to the A453, but also for Lincolnshire – as a link to the M1. We hope that the A453 improvements are a priority when it comes to funding.
“The tram is fundamental to the future of Nottingham. It is part of our integrated transport structure which is also needed to take the city forward."
Mike Taylor was positive about the future of Nottingham, and pointed to its world class universities. He said: “When you come out of a recession, you need innovation and new ideas. Nottingham is a designated Science City. I would guess that we don’t take full advantage of universities in the city.
He also talked about the regeneration of the city, adding: “I am very optimistic about the future of the Waterside. There is a planning application in at the moment for a new supermarket for Daleside Road. Watch this space, as there will be a positive outcome for the area in the autumn with some movement on site maybe in the new year. What we won’t have, however, is the large scale development that we used to have on the site. Developments aren’t like that any more – there will be pockets of developments, such as the Riverside apartments.”
Wyn Morgan pointed out that Nottingham has got to offer the full package if it wants to attract the big employers: “The wider environment of the city is important when attracting people in. It is about the general working environment and the cultural environment of the city. We have a thriving arts and cultural offering here, with restaurants and night life. These need to be packaged up in order to make the city attractive. It’s essential for making us a competitive city. It isn’t just about being a financial centre but a whole range of offerings.”
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