I was asked by the Nottingham Evening Post this week if I had a view on the news that emda is to die a lingering death by the new Coalition Government. I have blogged about this before – I do have a view…
The story I gave was:
It’s the end for the east midlands development agency. So, does that spell power or pain for the East Midlands?
Set up over a decade ago by the last government, emda is one of nine regional developments agencies established to work with local businesses to help development, employment, business efficiency and skills.
The figures given by emda say that there is £9 of economic output for every £1 it spends. And in 2008-09 2,630 jobs were created.
Tim Garratt, Director at Innes England, said: “I had first-hand experience with emda’s input into the Castle College Automotive and Engineering Training Centre at Highfields.
“Part of the building is let to Toyota with the other half occupied by Castle College. It is a world-class facility for automotive training.
“Although funded in part by the former Learning & Skills Council and a major contribution from the city, the majority of the build and fit-out was funded by emda. The funding was critical but much more important was their ability to be the central part of a large team – they added their corporate weight and influence. I doubt we would have attracted Toyota without them.”
There is a similar story next door at No.1 Nottingham Science Park, managed by Innes England.
“One of the most important lettings this year, in inward investment terms, is to The Changan Motor Company. Bryan Jackson of emda has to be credited with brokering this move to Nottingham.”
The Department for Business, Innovation and Skills expects that RDAs will close by March 2012. The end of emda sees the start of ‘local enterprise partnerships’, comprising of councillors and local business schemes.
“It’s a case of ‘watch this space’ to see what impact a replacement LEP will have on the region. Attracting investment to ‘Greater Nottingham’ is important but I don’t think that anyone would argue that emda has always demonstrated the ability to see across the piste of the region and make sure that requirements are placed where they are best suited.
“It’s widely recognised that there needs to be belt-tightening in the current austere environment of public finance. But we have to be wary about completely strangling the flow of investment.
“The loss of emda is not just about the loss of a ‘building’ and the employees. It is potentially a massive loss of knowledge, built up over a decade. That knowledge is priceless in a competitive market.
“The region needs new investment – it is the lifeblood of the economy. As the saying goes ‘it is better to travel than to arrive’.
“We have no idea yet as to how the new LEP boards will operate, but they need to be wary of becoming parochial. They will also need the skills and experience to know how global investment works. I hope that key staff at emda will be employed so that we don’t lose the valuable intelligence.
“If every cloud does have a silver lining then it may be that this is a fresh start. Every business needs to refresh itself from time to time; but was it ‘broke’ in the first place?”
Tim Garratt is director of asset management for commercial property company Innes England.
I would be interested in other peoples view….









