In Focus: A Farewell to Emda
It was interesting to her Invest in Nottingham Club chairman Paul Southby at last week’s lunch at Trent Bridge saying that the Club, despite only being a year old, had been involved in six inward investment enquiries over the last year.
The Invest in Nottingham Club is, of course, the new thing in the city, so it was almost poignant that a press release from Emda – perhaps the last I’ll receive from the organisation – came through a couple of days later heralding a record year.
Going out on a high is always nice, and it’s hard to not think that this missive is a definite “two finger salute” to all the detractors who called Emda a waste of money. Maybe it wasn’t, of course, but, if you narrowed your eyes, it certainly read like that.
In 2010/11, the RDA was involved in a total of 42 inward investment successes, against a target of 35, creating or safeguarding 4,522 jobs against a target of 2,800.
Over the last decade, Emda says it has been involved in securing more than 300 inward investment successes in the East Midlands, with some 30,000 jobs created or safeguarded as a result of the Agency’s efforts.
Emda’s work is now being passed along the line to the UKTI, who will have the job of not only safeguarding the location of the 2,500 overseas companies working in the East Midlands, but also attracting more. UKTI says it’ll be working with the local LEPs to do this.
Dr Bryan Jackson, Emda’s chairman, said: “Global competition for new investment is fierce, but the East Midlands has proved to be an attractive location for businesses thanks to its central location, relatively low cost base and its growing reputation for technological excellence in a range of key sectors. In the transport equipment sector for instance, the region has exceptional capabilities in its research base, complementing the presence of major manufacturers such as Rolls-Royce, Bombardier, Toyota and Siemens.
“We believe that we are leaving UKTI a very strong platform for continuing success, and it is important that they draw on the hard-won lessons in our handbook.”
Whilst confusion still surrounds the role of the LEPs, there are already those nostalgic for the days when Emda was in full flow. These business leaders sometimes don’t want to say it in public, but they’ll utter these words to me off the record, and it’s hard not think that – despite its faults – others will benefit from Emda’s legacy of attracting inward investment to the region.
Any comments? Sam Metcalf, Insider
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