AROUND 80 potential investors who could bring thousands of jobs to the county were treated to a powerful presentation with the message - 'come and set up in World Class Worcestershire'.

And part of the reason the 'sales pitch' was so strong was that it came from no other than former Bank of England Governor Sir Mervyn King.

Sir Mervyn marked his first day as President of Worcestershire County Cricket Club by using the background of the famous view across the ground towards the Cathedral to tell business leaders: You could not come to a better place.

Potential investors from all across the country had been invited to the Graeme Hick suite at the cricket ground to see and hear what the county has to offer to businesses looking to set-up, grow of relocate.

They included a group from the south east of England brought by train from London who were told how rail development was a key element of the county's growth strategy.

The investors were welcomed by Worcestershire Local Enterprise Partnership chairman Mark Stansfeld, but it was Sir Mervyn who made the keynote speech.

He said the re-balancing of the economy following the financial crisis gives Worcestershire an advantage.

'The industrial structure of this country is changing radically. From Ironbridge (the home of the industrial revolution) to the internet.

"Big factories are disappearing. Many big financial institutions are getting smaller. Size is no longer an advantage. We are moving into a different world."

He said the distinctions between services, manufacturing and agricultural industries were breaking down.

Business did not need to be in huge cities like London, which are becoming 'unattractive and unaffordable'. Heavy industry was in decline. Ironbridge had gone, the internet had come. Firms were getting rid of office space because people could work from home.

"What is not in decline is the opportunity for people to live and work in places with a good quality of life. This is where Worcestershire has an enormous advantage."

People wanted to live in places which combined elements of urban and rural lifestyles. Worcestershire offers that.

"A pleasant part of the country will be the single biggest determinant of where people choose to work."

 

  • Sir Mervyn also had a message to the county's business leaders and local authorities - sort things out for yourself.

He warned that economic growth for Worcestershire cannot be built on government money because: "You will never get enough."

"Sort it out yourselves. Councils and businesses must work together, as Worcestershire is."

But he also warned that it is a mistake to try to second guess the market to identify the jobs and businesses of the future.

"Let the market decide. You cannot run a planned economy from the centre. People must be left to innovate and create."

What could be done was to offer support to do that, through help with education, transport, housing and communications.