invest edinburgh (july- september 2009)

www.investedinburgh.com | summer 09 | INVEST EDINBURGH 1

INVesTeDINBurGH

QuarTerly INVesTmeNT BulleTIN from scoTlaND’s capITal summer 2009

INsIDe Issue 29 » Jeremy peaT oN plaNNING for THe fuTure » 10 QuesTIoNs for faITH lIDDell » eDINBurGH ecoNomy waTcH » spoTlIGHT oN eDucaTIoN

eDINBurGH: oN course for successceleBraTING a roBusT ecoNomy wITH a BrIGHT fuTure

VoTeD europe’s Top small cITy By fDI maGazINe

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IN THIs Issue

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THIs maGazINe Is prINTeD oN eNVIroNmeNTally respoNsIBle paper

maNufacTureD usING 50% recycleD wasTe aND 50% fIBre from well maNaGeD

foresTs, coNTrolleD sources aND recycleD wooD.

all rIGHTs reserVeD. maTerIal coNTaINeD IN THIs puBlIcaTIoN may NoT Be reproDuceD, IN wHole or IN parT, wITHouT prIorpermIssIoN of THe cITy of eDINBurGH couNcIl (or oTHercopyrIGHT owNers). wHIlsT eVery efforT Is maDe To eNsure THaT THe INformaTIoN GIVeN HereIN Is accuraTe, No leGal respoNsIBIlITy Is accepTeD for aNy errors, omIssIoNs or mIsleaDING sTaTemeNTs.

eDITorIal Team:

Kenneth wardrop, ailsa falconer, lindsey sibbald, susan robertsonand Kyle Drummond.please contact us at:[email protected]

2 INVEST EDINBURGH | summer 09 |

THe fIrsT worD

welcome to Invest Edinburgh, a new publication which showcases edinburgh’s position as one of europe’s most exciting places in which to visit, invest, live, work

and study.Invest Edinburgh brings together many of the familiar

elements from Capital Review magazine and combines these with the edinburgh Inspiring capital brand. The result being a publication that covers a broad range of topics, features strong independent comment on the state of the city, and highlights the wealth of business opportunities which edinburgh currently offers.

Despite the tough economic climate, confidence in the future of edinburgh’s financial services industry is strong and we remain in the top league of global financial centres. In her cover feature, ‘edinburgh: open for Business’, Vicky masterson examines the unique attributes of the edinburgh city region which allow us to stand out above the crowd. I am in no doubt that, with our broad financial sector profile and highly skilled workforce, edinburgh is well placed to reap the benefits of growth once global economic confidence returns.

of course, in order to make investment decisions and recognise the opportunities afforded by the city region, investors require as much up-to-date information as possible. our monthly electronic bulletin, edinburgh economy watch, provides a wide range of high-quality data and gives an excellent summary of the city’s current economic performance. on pages 15 and 16 we outline how you can sign up to this valuable information resource.

ensuring the value of the city’s unparalleled cultural programme in driving the regional economy is one of the roles of festivals edinburgh. on pages 8 & 9 festivals edinburgh Director, faith liddell answers 10 Questions on the challenges faced by the city’s cultural sector and the opportunities she sees for the future.

The edinburgh Inspiring capital brand continues to be used to great effect to promote the city region on the global stage. from september the brand will be making an even bigger splash when it features in the 2009-10 clipper round-the-world yacht race. our own yacht, edinburgh Inspiring capital, will be branded in the brand livery and will set out from the uK on 13 september. on behalf of the city of edinburgh, I wish everyone competing in the race the very best of luck.

I hope you enjoy this first edition of Invest Edinburgh. as always, if you have any feedback, including comment on the new format, I would be delighted to hear from you.

Tom BucHaNaN,convenor of the economicDevelopment committee

sNapsHoTsa round up of news from across the city

10 QuesTIoNs for...faith liddell talks festivals and outlines the opportunities they bring to the city

(cover story)oN course for successedinburgh’s financial services prove robust

aNalysIsedinburgh economy watch: piecing together the economic jigsaw

THe sTaTIsTIcsThe latest key indicators for the edinburgh economy

maKING IT HappeNHow essential edinburgh is delivering a cleaner, welcoming city centre

aDDeD exTraseducation, education, education in edinburgh

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<capITalcommeNT


well at least we are having some sun this summer, even if the economic barometer remains fixed somewhere between uncertain (for the optimist) and dismal (for

the realist). Dwelling on the doom and gloom does nobody any good, so let me look forward to those bright days sometime in 2010 when the global and scottish economies are marching forwards rather than being in full retreat.

These days will come and business in the capital must be ready. as I have preached before in this column, now is the time to get prepared; for business to become lean, mean and internationally competitive. we at the David Hume Institute were delighted when Jim murphy, secretary of state for scotland, asked us to set up seminars on four sectors where international competitiveness was a real possibility; and are even more pleased to be receiving unqualified support in this venture from the scottish Government, scottish enterprise, cBI (scotland), academics and many others critical to success.

By the time this piece hits the streets we should have completed two in the series – low carbon energy and high tech manufacturing – with two to come – high quality food and drink and financial services. (yes, the financial services sector is rightly on that list. Two of our banks may have suffered severely but the sector is bigger than rBs and HBos. many of the capital’s financial sector businesses are genuinely in the top echelons of their sectors from a global perspective). all of these sectors matter in edinburgh and the lothians and all have the potential for comparative advantage on a global scale.

for each sector there will be specific factors that will aid

competitiveness. But some factors will span all sectors. skills clearly matter – and edinburgh has skill creators in plenty. Being at the forefront on the r&D front is also essential – and again edinburgh is well placed. our universities and colleges must renew efforts to work with business to provide those skills – at all stages of careers – that are critical to success; and also to ensure research activity focuses increasingly on the sectors that matter and on

providing contributions to creativity and efficiency in the market place.

Infrastructure will always matter – whether this be roads, rail, air or broadband. second rate infrastructure is likely to mean second tier businesses. edinburgh has so many natural

advantages and such a high reputation internationally. That reputation must be retained and therefore the infrastructure that should go along with the reputation has to be enhanced.

money will be tight, especially for the public finances, for several years to come. universities, colleges and local authorities, some of whom are already under huge financial pressure, will feel the pinch more severely than has been the case for decades. They too must be lean and mean. I would dearly love to see more evidence of a continuing search for enhanced efficiency. That could come from shared services in the capital – property, student accommodation, catering, Hr, IT, etc – or ever closer co-operation between departments or even (dare I say this?) amalgamation. Just a thought, but switzerland has only seven universities.

THe VIew from HereJeremy peat, Director of the David Hume Institute, stresses the need to be prepared

if the city region is to compete successfully on an international stage.

maNy of THe capITal’s fINaNcIal secTor BusINesses are GeNuINely IN THe Top ecHeloNs of THeIr secTors

from a GloBal perspecTIVe

Jeremy Peat is Director of the David Hume Institute


planning applications received across edinburgh city region rose 19.7% in may 2009.source: Edinburgh Economy Watch

FACT:

sHoT IN THe arm for HealTHcarePatients in the Edinburgh City Region are set to benefit from enhanced care and treatment following news of a planned ten-year, £888 million programme of expenditure by NHS Lothian. The health provider’s plans will provide construction and healthcare jobs in the area and cement Edinburgh’s reputation in the fields of medicine and life sciences.

NHs lothian’s plans will provide the region with new hospitals, health centres and infrastructure and will be assisted by Government funding, charitable donations and university investments.

The royal Hospital for sick children is set to be transformed with a new £150 million home next to the royal Infirmary of edinburgh by 2012. The new premises, which will provide children with open views and easy access to green space, have been created to meet the needs and wishes of patients and replace its current site where it has resided since 1895.

st John’s Hospital in livingston will be upgraded with a new £8.2 million short-stay elective surgery centre as part of NHs lothian’s plans, and this should be completed by may 2010. It follows the recent expansion of the hospital’s endoscopy suite, which doubled its capacity. st John’s will also open a £500,000 specialist dental service in august, designed as a centre of excellence for the region.

additional NHs lothian projects include the £18 million creation of a midlothian community Hospital near Bonnyrigg and the £9 million transformation of the capital’s sexual health centre, which will allow patients to receive fast and effective care and advice.

Despite the global economic downturn, there continues to be significant interest in the numerous redevelopment opportunities in Edinburgh’s city centre.

a number of high-profile investors have been secured in recent months. The clothing retailer urban outfitters is to open its first outlet in edinburgh in a vacant unit formerly occupied by zavvi, while the Deramore property Group has been granted planning permission for a £40 million development incorporating a 97-bedroom premier Inn and a New look store.

a worldwide competition has been launched to attract proposals for the re-use of the old royal High school on regent road. Developers have been invited to submit their vision for the future of the category-a listed building, and the council hopes to secure a client for the site by may 2010.

sTrING of pearls upDaTe

A campaign to promote Edinburgh’s assets has been launched to support the Council’s Economic Resilience Action Plan.

The economic action resilience Network (earN) encompasses a range of

recession management initiatives supported by the city of edinburgh council and a range of partners. The aim of earN is to drive and direct economic resilience support; to help individuals and businesses cope in these challenging times; and to ensure edinburgh is in a strong position to respond quickly when the economy recovers.

within this rapidly growing network, key partners include NHs lothian, Jobcentre plus, skills Development scotland, capital city partnership, edinburgh chamber of commerce, edinburgh science Triangle, essential edinburgh, edinburgh Tourism action Group (eTaG), universities and colleges.

Key initiatives include:• Thedevelopmentofenergyconservationandwaste

reduction programmes within council services and smes;• Therapiddeploymentofteamstosecurejoband

training opportunities for workers facing redundancy;• Theplacementofexecutivesfacingredundancyinto

Business Gateway companies with management needs;• Thesecuringofresourcesfornewinvestmentsupport,

and targeted activity to attract inward investors;• Atourismresilienceplan;• Improvedvalueformoney,throughcompetitive

procurement, for ongoing public works.

for more information on coping with the economic downturn, go to: www.edinburgh.gov.uk/buildingoureconomy

earN upDaTe

HIGH fIVe for coNTINeNTal

Continental Airlines is celebrating five years of

flights connecting passengers in Edinburgh and its New York hub, Newark Liberty International Airport. Since its inception in June 2004, the airline has carried more than 650,000 people on the trans-Atlantic route, helping contribute an estimated £184 million in tourism revenue to Scotland’s economy.

The phenomenal success of the service has seen its expansion to the current level of 14 flights a week, twice every day, using the airline’s Boeing 757-200 aircraft. as a result of its growth, continental is now the busiest long haul operator to and from scotland with edinburgh representing a vital link for scottish business and leisure travelers.

with close connections between edinburgh and major international hubs seen as a key driver in the future economic development of the city region and the continuing expansion of edinburgh airport, the route was singled out for praise by the minister for enterprise, energy and Tourism, Jim mather msp.

North america is a major international tourism market for scotland, with more than 417,000 visitors each year. This year, edinburgh’s central role at the heart of the Homecoming 2009 celebrations means close connections between scotland’s capital and major tourism markets have been more important than ever.

<sNapsHoTs

Bite size


wHaT Do THey Do?provide flexible, high quality customer contact management solutions to a range of sectors including financial services, communications, healthcare and transportation. Its global network of call centres offer businesses the opportunity to outsource tailored services and support in areas such as sales order processing, payment processing and product delivery via phone, email or through the web.

wHy are THey worTH waTcHING?syKes were the only scottish company to receive awards at a recent europe-wide call centre management association (ccma) event. such acclaim has enabled the company to continually expand operations at its two contact centres in edinburgh and its fulfilment centre in Galashiels. Global outsourcing is likely to rise during the current economic downturn as businesses seek innovative ways of cutting costs.

wHere HaVe THey come from?Headquartered in Tampa, florida, the 30-year history of the company reflects the rise of call centres globally. The business now has 45 centres operating in 30 languages across 19 countries, with its 29,500 staff performing 500,000 transactions daily on behalf of clients.

wHaT Does IT meaN for THe area?syKes currently employs 700 staff in its three scottish locations. The company’s success in managing its spread of european and south african centres from edinburgh should ensure consistent expansion and employment opportunities at its Northern european headquarters on corstorphine road.

1 To waTcH syKes

Edinburgh is plotting a course for wider recognition this year with an entry in the 2009 Clipper Round the World Yacht Race. The city’s Edinburgh Inspiring Capital will carry the hopes of the capital before a worldwide audience of over 200 million race followers.

The yacht’s backing has been secured through a partnership of scottish businesses all working with the Destination edinburgh marketing alliance (Dema) to globally showcase the brand and the city itself.

The race features identical 68-foot racing yachts all sponsored, crewed and liveried by international cities, regions and countries. The race, which begins in september, visits seven cities during its 10-month, 35,000 mile duration.

among the entry’s sponsors are Benromach whisky, part of the Gordon & macphail portfolio. The company’s Joint managing Director, David urquhart,

commented: “Having been involved in the race since 2007, we are sure that edinburgh will realise the race’s benefits in terms of visibility and the ability to build strong international links and encourage visitors as well as inward investment.”

> If your business is interested in capitalising on this global promotional opportunity, contact [email protected]

> For more information on the race visit www.clipperoundtheworld.com

Edinburgh Airport has recorded record passenger numbers, as the first stage of its £40 million expansion is completed. It was the only BAA Airport to record an increase in May traffic, with passenger numbers rising 1.4 percent.

more life science sector apprentices will be recruited following a scottish Government £3 million scheme.

Brora, a luxury fashion house specialising in cashmere, has opened its first shop in the city.

Hymans robertson, benefits and investment consultants, will be moving to the city with the creation of 25 jobs.

Gigle Semiconductors, a company specialising in connecting media appliances, has agreed to rent 4,282 sq feet of office space at Capital House.

edinburgh hotels are earning more per tourist than any other uK city outside of london, while hotel occupancy rates have risen 6 percent year-on-year.

Europe’s biggest Apple reseller, Cancom, is opening its first Scottish outlet in Edinburgh.

edinburgh’s house prices rose for a third consecutive month in June, rising by 12.1 percent.

A planned £25 million expansion of Edinburgh’s Cameron Toll shopping centre would create 300 to 400 construction jobs and as many as 500 retail jobs.

Hotel missoni edinburgh, a boutique style hotel on the royal mile, opened in June with 136 rooms including seven suites.

The City of Edinburgh Council provided £1.3 million of extra resources for 2009/10 to enable its Economic Development Unit to work with partners in attracting £600 million of new investment and help 3,000 economically disadvantaged residents into sustainable employment.

marsh has doubled the size of its insurance and risk adviser departments in the city.

Virgin Media has signed a ten-year lease agreement for office accommodation on Hanover Street.

INspIrING capITal races THe worlD

MADE in EDINBURGH


No 20

DresseD for success

with a presence in the far east and North america, Kinloch anderson has weaved itself firmly into the fabric of the global textiles market. with plans for further expansion in russia and India and an enhanced offering in the far east, the company has come a long way from its beginnings as a bespoke suit maker in George street.

Now based in leith with a shop, historical display and tailoring works, the family-owned company’s expansion plans reflect the visionary direction of six generations of Kinloch anderson, a name synonymous in the city region with expertise in Highland Dress.

overseas, however, the company’s focus is on licensing the Kinloch anderson brand with inspiring designs of mens-, ladies- and childrenswear and accompanying accessories and merchandise sold through its partners’ outlets and concessions. Kinloch anderson’s 141-year heritage, combined with three royal warrants, ensures a strong reputation among overseas markets.

although tartan is used only occasionally and subtly for overseas designs, it is for their Highland designs that Kinloch anderson remains known in uK and North american markets. It designs and tailors tartans for a wide variety of businesses and events, while private consumers travel from far and wide to be fitted with the right Highland outfit. as one of the event’s sponsors and the recommended Highland Dress supplier, Kinloch anderson featured prominently at The Gathering, a two-day international clan reunion and celebration of scottish culture staged in edinburgh’s Holyrood park in July.

short term, under the day to day management of Deputy chairman John Kinloch anderson and chief executive Nick Bannerman, the company is focused upon the steady growth of its established reputation in current markets as well as a move into russia and India, while europe, australasia and the united arab emirates remain on the medium-term radar.

cITy leaps up worlD raNKINGsEdinburgh’s reputation as a global centre for business tourism has been strengthened by the announcement that the capital has leapt from 36th to 28th place in the latest world rankings as a destination for international conferences. The annual rankings are produced by the International Congress and Convention Association (ICCA). This most recent report places Edinburgh second only to London in terms of UK cities hosting international association meetings.

organisations staging conferences in edinburgh this summer include the european forum for Industrial Biotechnology and the International society of Developmental Biologists. many of the events will take place in the edinburgh International conference centre (eIcc), which has welcomed over 700,000 delegates since first opening its doors in september 1995. The eIcc was the first bespoke conference venue in the world to receive a gold award under the Green Tourism Business scheme.

The edinburgh convention Bureau (ecB) estimates that business tourism

contributes approximately £300 million to the economy of edinburgh and the lothians each year (spend per night by business visitors is 80% higher than that of leisure visitors). The economic value of confirmed conferences won or influenced

by the ecB for the city during the last financial year was £73.5 million.

To meet edinburgh’s growing popularity as a location for conventions, the city is enjoying a corresponding increase in hotels and serviced apartments.

average house prices in edinburgh rose 12.1 percent between april and may 2009.

source: Registers of Scotland

FACT:

MY CITY

VISION

New ARRIVALS

<sNapsHoTs


wHo’s oN THe moVe? fraser suites edinburgh provides luxury serviced apartments for executive travellers making extended stays. a subsidiary of the singaporean conglomerate fraser and Neave, frasers aims to become the global leader for extended-stay hospitality provision.

wHy THe cHaNGe? fraser and Neave is currently in the middle of a massive global expansion that has been unchecked by the global economic downturn. In July 2008, frasers revealed plans to open 5,000 new serviced apartments to bring its total number of worldwide serviced apartments to more than 8,400 by 2010. serviced apartments are becoming increasingly popular in the corporate world as a more economic alternative to hotels.

wHy eDINBurGH? research revealed a demand for more luxury accommodation for people working, training and attending conferences in the capital. The proximity of edinburgh castle, princes street and the royal mile was also a factor, with Development Director David westwater praising edinburgh’s “unique variety of attractions and amenities”. frasers has a scottish legacy, as its parent company was founded by two expatriates, John fraser and David Neave, in 1883.

wHeN wIll THe moVe HappeN? fraser suites edinburgh, which features 79 serviced apartments, opened on st Giles street in may 2009. The company has revealed plans for a second fraser suites development at shrubhill that would include 121 apartments. subject to planning permission, work will begin next year and the suites will open in 2012.

CONTINUING OUR REGULAR FEATURE ABOUT THE LATEST COMPANIES INVESTING IN THE CAPITAL

Brian AdairManaging PartnerRyden Lettings

wHaT sorT of cITy woulD you lIKe To see?edinburgh is one of the most beautiful cities in the world with strong cultural, educational, financial and tourist strengths. although these characteristics have been exploited in recent years, edinburgh cannot afford complacency. with the reduction in traditional industries, the development of technology, medical research and improvement in basic education is of paramount importance to the city’s future.

How successfully Is THe cITy moVING TowarDs THIs VIsIoN?progress has been slow but there are encouraging signs. witness the superb architecture of the new Informatics buildings at potter row, the BioQuarter plans at little france, the usher Hall and festival Hall projects and the plans for further improvements to waverley station and edinburgh airport.

planning permissions are a problem but the new planning act may assist in speeding up the process. The continuing investment in infrastructure is helpful.

wHaT more musT THe cITy Do?encourage partnerships between the public and private sectors, especially in education, the arts and sheltered housing. encourage private capital to invest in the provision of housing for the elderly (the merchant company development in Brandfield street is an encouraging example).

pupils should be encouraged to take science and foreign language courses.

red tape in many areas of public authority administration must be reduced especially in the current economic downturn. The requirements of the new licensing act do not help a tourist city like edinburgh and should be reviewed.

sHeDDING New lIGHT oN waVerleyNetwork Rail’s unveiling of a £130 million refurbishment programme for Waverley Station looks set to further enhance the appeal, attraction and accessibility of the vibrant city centre transport hub. The work, which will be completed by 2014, is designed to meet the expectations of the 21st century rail passenger.

The station roof is the focus of the investment and all 34,000m2 will be entirely rebuilt using 17,000 strengthened glass panels. This will allow natural sunlight to filter down to the station floor, significantly reducing lighting bills and enhancing the station’s green credentials.

Vehicle ramps, concourse flooring and bridges on calton road will also be upgraded, while new canopies will be added to platforms eight and nine. Improved signage throughout the station will also improve the passenger experience.

The programme will start this autumn and Network rail is confident the works will proceed without major disruption to passengers.

The plans complement a £150 million programme of infrastructure upgrades completed in 2008, which saw new platforms, extensively remodelled tracks and enhanced line signalling added at the station.

faith liddell


as Director of festivals edinburgh, faith liddell’s challenge is to make the festivals an essential cultural and economic driver for the sustainable development of the city. Here, faith talks to Invest Edinburgh about her role in driving the 12 major festivals forward, and the challenges that lie ahead.

Ie> what advantages does having a central festivals edinburgh group give?

fl> Having a collective group gives us a combined voice and strength when communicating with audiences, stakeholders and partners, and allows us to have a strong, united approach when emphasising cases locally, nationally and internationally. as a group, we can also embrace big ambitions – not just with regard to joint marketing, but also across programming, investment, fundraising, professional development, environmental issues and technology to a level that a festival could not do individually.

primarily, what we are about is working in partnership to ensure edinburgh remains the world’s leading festival city; and that is good for the economies of both the city itself and scotland as a whole.

Ie> This is your third year in the role of Director of festivals edinburgh, what major changes have you overseen?fl> our mission was driven by the key recommendations of the Thundering Hooves report, which examined the competitive position of edinburgh’s festivals. In response to these we have worked with partners to establish longer term strategic approaches to planning through the festivals forum, our ambitious national and international

marketing strategy and plan has been created and is now being implemented and we are working collaboratively with each other, and our partners and stakeholders, as never before across six key areas of our work. This new and innovative collaborative working approach is defining and delivering joint ambition and now informs everything we do.

Ie> How have the various festival Directors responded to your role and objectives?

fl> They have defined my role and objectives because, as the creators of festivals edinburgh, they define and agree its ambitions. festivals edinburgh develops collaborative projects and approaches on their behalf and I always say “I have no power, only influence!” The wonderful thing is that I have the privilege and inspiration of working with 12 individual festivals, which gives me access to 12 great programmers, 12 skilled marketing minds, 12 ingenious fundraisers and 12 committed environmentalists and thoughtful people managers.

Ie> To what extent do you think the economic downturn will affect edinburgh’s 2009 festival programme?fl> It’s difficult to say. Ticket sales

have been on par with last year, and with Britain’s focus on “holiday at home” and a good exchange rate encouraging overseas tourists to visit, we should remain resilient.

from the corporate sponsorship side, this has also been little affected to date. The festivals offer a very strong brand and appear resilient with regard to attendances so remain an attractive partner for business. However, some deals are at the end of a three-year cycle, so we need to watch this area carefully. corporate sponsorship is essential and the partnerships have been hugely mutually beneficial.

Ie> you have worked in festivals and theatres around the globe. what have these experiences allowed you to bring in your role?fl> Great festivals are profoundly local, as well as ambitiously international. The physical and psychological relationship between the festivals and the city are essential to their success and edinburgh has that. However, our benefits of a global reputation, huge local appeal, world-class brand and uniquely intimate and historical setting must be sustainable. other cities – understanding all the benefits the festivals bring to edinburgh – invest huge money into their own festivals infrastructure, programming and marketing and we must keep up with that.

<10QuesTIoNs

faith liddell


Ie> How can edinburgh stay ahead of the game given increasing competition from many other festival destinations?fl> we need to continue to think and act strategically and in partnership with all financial backers, stakeholders and partners who have an interest in ensuring our city’s festival strength. we need to remain inventive and ambitious in what we do and aggressively market edinburgh as the leading festival city worldwide. most importantly, we need to invest in innovative and exciting programming as it is the art, ideas and entertainment that draws people to edinburgh.

Ie> one of your major missions was to enhance transport options for festival-goers. How have you achieved this?fl> Infrastructure issues, including transport, are important to ensuring we make the visitor experience as fantastic as possible. Transport improvements in terms of access, timing, comfort and convenience of all kinds is essential. However, it is not just transport issues we wish to help enhance, aspects such as venue quality or accommodation costs are equally important and what edinburgh festivals tries to do is exert influence and persuasion in partnership with all of the city’s stakeholders.

Ie> what has been done to avoid a repeat of last year’s fringe festival ticketing problems, and how does

CV

this link with the city Ticketing portal project?

fl> everything is being done to avoid a repeat of 2008’s ticketing problems. Next year, we’ll be introducing a pilot of the city ticketing portal, which uses an expedia-style system to link individual box offices and so requires all the ticketing systems to work effectively. Therefore, by 2010, tickets for all 12 major festivals will be purchased through a single shopping basket.

Ie> Does programme content have to evolve to reflect the changing make up of international visitors?fl> programming is defined by the vision of individual festival directors and they are all profoundly international in their outlooks and creative outputs already. International visitors are not necessarily attracted by work from their

own country, but by the astonishing quality and range of work available at edinburgh.

Ie> what does the future hold for edinburgh’s festivals?fl> Just huge potential! The festivals have an enormous role to play for edinburgh, whether marketing the city locally and internationally, impacting on edinburgh’s and scotland’s economy, responding creatively in these complex times, creating dialogue where needed or promoting the very best of our cultures and those from overseas. with support, we have the means to make an increasing contribution to the economic success and social well-being of the city and the country. we have an astonishing asset and are only just beginning to exploit it for maximum benefit. Here’s to the future!

well known in scotland’s arts scene, faith was raised in Dalkeith and educated at the local high school before graduating with a degree and post-graduate diploma from the university of aberdeen and the university of edinburgh respectively. after roles at the Traverse and royal lyceum Theatres, faith worked as a development officer for the fringe before transforming the edinburgh International Book festival as its Director between 1998 and 2001. after three years in australia, faith took on the role of Director at the acclaimed Dundee contemporary arts centre before becoming Director of festivals edinburgh at the end of 2006. away from this three-day-a-week role, faith remains a leading arts expert and works as a freelance arts consultant.

since its launch in 1947 edinburgh’s festival programme has expanded to become the world’s largest arts festival.


for a small european city region with1.2 million residents, edinburgh has established remarkable strength and leadership as a financial services

centre and inward investment location. Named europe’s Top small city in the

2008 Financial Times fDi (foreign Direct Investment) magazine awards, scotland’s capital is also Britain’s second – and europe’s fourth – largest financial centre, and ranked 20th in the world, ahead of Dubai, amsterdam and washington, in the march 2009 Global financial centres Index.

Key stakeholders across edinburgh’s financial community attribute this status to a depth and breadth of expertise that brings tremendous resilience in challenging economic times.

“one of the points I always make is that the industry in edinburgh is diverse and very varied,” says owen Kelly, chief executive of scottish financial enterprise, the representative body for scotland’s financial services industry.

“we have investment managers,

insurance, life and pensions, asset servicing and a large professional services and broking community as well as banking, so it’s deep, very strong, and internationally very significant. Taken together, we should be cautiously optimistic about edinburgh’s ability to come through this period of change and renewal and to continue to grow and develop.”

Kelly points out that, in investment management alone, edinburgh ranks 11th in the world, with firms including Baillie Gifford, martin currie, artemis, franklin Templeton, first state Investments and f&c asset management.

Headquartered at edinburgh’s calton square, Baillie Gifford is one of the uK’s leading privately owned investment firms and now generates more than half its revenues internationally. partner edward Hocknell believes edinburgh’s talent pool – 43.6% are qualified to degree level or hold a professional qualification – has

eDINBurGH: oN course for success By VIcKy masTersoN for DesTINaTIoN eDINBurGH marKeTING allIaNce

“THERE ARE OTHER ATTRACTIONS AROUND THE LONG-TERM BRAND AND ASSOCIATION OF THE CITY WITH FINANCIAL SERVICES, THE qUALITY OF LIFE, THE ATTRACTION OF THE CITY AS A LOCATION AND ITS CONNECTIVITY AROUND THE WORLD.”

Diversity, critical mass,

creativity and a deep

talent pool are helping

scotland’s capital city

continue to punch above

its weight as a world-

leading financial centre.


eDINBurGH: oN course for success “I THINK wHaT eDINBurGH Has GoT GoING for IT Is THe BreaDTH of DIffereNT BusINesses aND all THe supporT DIscIplINes THaT Go wITH THaT.”

<feaTure

been a huge asset to the firm. Quality of life in the ‘Inspiring capital’ and seat of the scottish parliament – where morI regularly polls resident satisfaction rates at over 90% – is also a big bonus.

“There’s a very large pool of really good, well-educated, dedicated and honest people,” Hocknell explains. “I think the success of Baillie Gifford over the years is because we have hundreds of really excellent products of the good local education system. The other advantage is edinburgh’s quality of life. It’s a great place to live and we don’t find it difficult to attract the best graduates from anywhere in the world.”

although investment management globally has been hit by falling stock market valuations and the loss of investor confidence, martin currie, based at

saltire court in the shadow of edinburgh castle, believes scotland remains competitive in terms of service quality and international reputation.

chief executive willie watt also pays tribute to edinburgh’s workforce, adding: “There are other attractions around the long-term brand and association of the city with financial services, the quality of life, the attraction of the city as a location and its connectivity around the world.”

more than 40 airlines are currently providing over 100 direct flight routes to edinburgh airport, now scotland’s premier gateway.

local transport infrastructure is also enjoying major investment, including a new £512 million tram system for edinburgh.

In the life and pensions sector, renowned brands headquartered in edinburgh include standard life, scottish widows and aeGoN uK.

standard life, based on lothian road in the city’s financial exchange district, has £117.7 billion of assets under administration and more than 6.5 million customers in three continents.


“EDINBURGH’S REPUTATION

AS A VERY STRONG

FINANCIAL SERVICES CENTRE

ISN’T JUST GOING TO BE

WASHED AWAY WITH THE

RECENT FINANCIAL CRISIS.”

FURTHER INFORMATION

www.investedinburgh.come: [email protected]+ 44 (0) 131 529 6600

“we’ve been seen as a company which investors don’t have to worry at all about, because we pursue our business in a manner we call ‘capital light’ and keep a tight focus on cash management,” explains chief executive sir sandy crombie, who was knighted this year for services to the insurance industry.

“I think what edinburgh has got going for it is the breadth of different businesses and all the support disciplines that go with that.”

In the banking sector, the newly enlarged lloyds Banking Group is moving its scottish headquarters to the historic mound, where Bank of scotland, Britain’s first joint stock clearing bank, was established in 1695.

“we have a huge responsibility, because we’re now banking close to one of every two people in scotland and have huge reach,” explains susan rice, lloyds Banking Group managing Director scotland. “we need to take that very seriously and make sure we always stay on our customer’s agenda. we are also now one of the most well-capitalised banks in the world. we’ve never stopped lending and we’re certainly open for business.”

rice points out that recent high-profile events in the banking sector have affected every country in the world, not just scotland.

one major coup for edinburgh was the announcement in march that Tesco personal finance was establishing a new headquarters in edinburgh’s Haymarket, creating more than 200 new jobs. The

business has nearly 6 million customer accounts and markets its products in countries including Ireland, Hungary and poland as well as the uK.

“edinburgh is the ideal place from which to move what is already a successful business into the next stage of its development,” says chief executive Benny Higgins. “There is a real enthusiasm among our staff for being based in edinburgh.”

earlier this year the co-operative Bank also opened a new corporate Banking centre in edinburgh as part of an £18 million

expansion while clydesdale Bank, owned by National australia Bank, has seen an influx of corporate re-banking business in the last three months to its edinburgh financial solutions centre.

lloyds Banking Group and the royal Bank of scotland have both had a busy first quarter, advising on major listed company financings including revolving credit facilities for John wood Group and aggreko.

In asset servicing, edinburgh is home to major players including Bank of New york mellon, state street corporation and citi.

Jp morgan europe, which holds around $14 trillion of assets in custody for more than 1,250 clients, employs 300 people at its worldwide securities services fund administration operation and european asset pricing hub at edinburgh park.

sandy Brodie, executive Director, says: “over the last 18 months we’ve seen a significant inflow of new business from existing clients and are delighted to have picked up new mandates locally as well as from london and further afield.

“The time zone, availability of quality staff, reasonable location costs and transport links make edinburgh a very attractive place for doing business.

“from Jp morgan’s perspective, we’ve been here since 1992, and given the strength of our balance sheet and quality of our products, we hope to be doing this type of business here for a number of years to come.”

state street employs around 750 people in edinburgh across its core

performance measurement, custody, fund accounting and

trustee operations.

Barry muir, senior Vice president and managing Director of state street scotland, reports ‘real demand’ for the firm’s services, fuelled by growth in administration outsourcing as asset managers increase their focus on investment performance.

“edinburgh’s reputation as a very strong financial services centre isn’t just going to be washed away with the recent financial crisis,” muir suggests. “I think the market still sees scotland in general as a place where the financial services talent pool is very strong. organisations like ourselves are still looking to position a lot of our business growth in edinburgh and our peers are saying the same thing.”

supporting this diverse financial services hub is a large and respected community of professional advisors providing a broad range of vital services. These include lawyers, accountants, corporate financiers, brokers, risk managers, IT specialists, human resources and marketing professionals.

edinburgh’s wider economy is itself diversified. Tourism, for example, attracts 3.5 million visitors a year. as a world-leading science and technology destination, edinburgh city region has internationally recognised strengths in disciplines including life sciences, enabling technologies, optoelectronics and informatics.

“for example, the school of Informatics at the university of edinburgh is ranked as a top-three centre of excellence globally,” explains Norman springford, chair of the Destination edinburgh marketing alliance (Dema), formed to promote edinburgh as a world-class location for investors, visitors, students and new residents.

“The work done here has wide-reaching applications across multiple sectors – including financial services, where it promotes competitiveness by improving the customer experience.”

at scottish Development International, the national inward investment agency, sales and marketing Director stewart laing believes scotland as a destination remains an attractive and highly competitive location for both indigenous and international businesses.

He concludes: “Taken together, the depth and spread of scotland’s financial services industry provide an excellent platform for stability through these turbulent times and will ensure we’re in the best position to take advantage of the recovery when it comes.”


Headquartered in Stockholm, Sweden, Handelsbanken is a universal bank with 702 branches and over 11,000 employees in 22 countries worldwide. Handelsbanken declared an operating profit of 7.25 billion SEK (£569.8 million) for the first half of 2009 – a 14 percent rise on 2008 in a year in which many banks announced diminished profits or losses.

Iain Shearer is the Branch Manager of Handelsbanken Edinburgh, which opened on Princes Street in May of this year and will be locating to permanent offices on George Street towards the end of the summer. In this profile, he discusses why Handelsbanken has proven so resilient during the global economic downturn and what attracted the bank to Edinburgh.

Handelsbanken has increased its profits despite the global economic downturn. To what do you attribute the bank’s resilience?In simplistic terms, Handelsbanken has an old fashioned approach to doing business. we place great emphasis upon making the correct decision, understanding our customer, not getting involved in business we don’t understand and taking a long term approach to the business. we regard customer relationships as paramount, respecting our customers and also being very open with them.

Get these fundamentals correct, and it can be hard to go wrong. we have never been an aggressive lender and believe that the risk and reward should rest with the customer. loan terms such as stretched senior, mezzanine and equity have no place in our vocabulary. But we are also a bank that provides universal services to our customers, both corporate and individual, through the traditional banking services, although within the uK that excludes advisory activities. Being an international bank, we also have strengths in cross border transactions.

we are also a very well capitalised bank, having one of the highest ratings of any bank within europe and have not been required to raise additional equity from our shareholders or from state Governments.

Handelsbanken has a unique business philosophy – no sales targets, no bonuses and large-scale decentralisation. How do you feel this philosophy has contributed to the bank’s success?The bank takes a long term approach to all of its activities. Its decentralised model has established a business whereby the local branches have a high degree of autonomy, although within clearly defined guidelines and responsibilities. The branches are deemed to understand their local market better than the head office and therefore have full responsibility to develop their business, each branch developing its unique business plan. The head office

function is there to support, monitor and provide governance.It’s important to understand why there are no sales targets

or bonuses. This approach centres on the behaviour that both these can lead to, which is the risk that business is undertaken to achieve targets and that the focus is on short term objectives, rather than the long term goal. we take a different approach – is the deal right for the customer and for Handelsbanken? Does it satisfy the goals of quality, long term, relationship driven business? If it does not tick these boxes, then it is better to step away from the deal, than undertake it for the wrong reasons.

what is our core measurement? cost is one of the few controllable elements in business and a clear focus on this is fundamental to Handelsbanken. This therefore, can explain why we continue to increase profits – control of costs and loan losses.

What attracted Handelsbanken to Edinburgh?It was attracted by the vitality of the scottish market, its financial heritage and the profile of its target customer base, with both Glasgow and edinburgh opening together, becoming the 62nd and 63rd uK branches respectively. of all the countries that Handelsbanken operates within, the uK market is considered to offer the best potential.

Opinion is split as to whether the financial services sector is continuing to decline or slowly beginning to recover. What do you think are the prospects for the financial services sector, globally and in Edinburgh?opinion is varied here, with many commentators saying that banking has changed forever. much will depend upon the stance taken by the various regulatory bodies and how they implement and enforce these policies, and indeed by the various boards of the banks. as to whether the global banking sector is beginning to recover, you really have to approach this question on a country by country basis.

In edinburgh, the market still appears to be rationalising, with uncertainty surrounding further write downs of loan books and customers facing a fairly universal re-pricing exercise. perhaps, in hindsight, our entry into the edinburgh market could not have been better timed, and if our own experiences are a reflection of the market need, then we may be very busy for some time to come.

success BuIlT oN fIrm fouNDaTIoNs

<feaTure

Virgin Money • Handelsbanken • HyMans robertson • ruffer inVestMent ManageMent

brooks Macdonald • Medical Protection society • sHore caPital grouP • co-oPeratiVe bank

edinburgH WelcoMes...

FURTHER INFORMATION

www.handelsbanken.co.uk/edinburgh


TraNspareNcy Key To BuIlDING coNfIDeNce

edinburgh typified the uK’s “NIce” (non-inflationary, consistent expansion) decade of 1997-2007, with years of strong, steady and

predictable growth. The capital’s prosperity, skilled workforce and strengths in traditional high-growth sectors – including financial services – helped insulate it from short-term shocks, making long-term planning easy for both businesses and policy makers. There was an assumption that the economy would

invariably grow by 4 percent annually, house prices would rise by 5-10 percent each year, unemployment would consistently fall to new historic lows and talent, investment and visitors would continue to be attracted to the city. Despite warnings of the dangers of complacency, the majority of people acted as though it would last forever.

Then came the global economic downturn. The term “credit crunch” had entered the public vocabulary as early as 2007, but the downturn hit edinburgh’s financial services sector with a bang in the autumn of 2008. This quickly fed through to other areas of the city’s economy, starting with the property market and eventually affecting jobs and new investment. scotland would officially join the rest of

the uK, as well as france, Germany, Italy and the united states, in recession in april 2009. The national government swiftly responded using monetary and fiscal policy tools, while locally the city of edinburgh council took action by developing a resilience action plan, which would lead to the formation of the edinburgh action resilience Network (earN) (see page 4).

But despite the many proactive actions that have been taken, the recession continues to be a time of uncertainty. There is a considerable difference of opinion amongst economists and businesses as to the current and future state of the economy. with conditions ever changing, forecasts are continually being tweaked and revised. The most recent predictions suggest that the worst is over and the end of decline is imminent, but questions remain on when the recovery will begin and what form it will take. In the month of June alone, different economic experts suggested variously that the recession would take a “u”, “w”, “square root” or “Nike tick” shape. This uncertainty

damages the confidence of businesses, speculators and individuals, and confidence is the very thing which can stimulate recovery.

It is therefore crucial for the city’s key stakeholders and decision-makers to have as much up-to-date information at their disposal as possible about how all aspects of edinburgh’s economy are performing during the downturn, and how edinburgh is faring in comparison to the rest of the uK.

The edinburgh economy watch provides this information. launched in april 2009, the economy watch is a monthly electronic bulletin, produced by the city of edinburgh council’s economic Development unit, which summarises how edinburgh performs over a vast range of indicators in the following categories:

1. Housing2. planning and development3. city centre performance4. Tourism5. labour market6. Investment

Information is displayed through graphs which date back twelve months so that year-on-year comparisons can be made. Indicators are also compared with other uK cities where possible. This puts the information in context and allows edinburgh to be benchmarked against its competitors, enabling the success of the various actions being undertaken in the city to build a stronger economy to be gauged.

In addition, the economy watch summarises experts’ forecasts, focussing in on edinburgh, and provides links to any relevant stories that have appeared in the press and to online sources of further economic intelligence.

Hard economic data is complemented with anecdotal news where available and possible explanations for the trends are suggested, but it can be difficult to draw conclusions from individual indicators, which may be affected by a range of factors. analysis is therefore kept to a minimum, allowing the graphs to speak for themselves.

where the economy watch really adds value is through assembling a diverse range of relevant and up-to-date information into one concise document. The information can be easily absorbed by readers to improve their knowledge of the latest economic trends, and help them to draw their own conclusions as to what the future may have in store.

<aNalysIs

as edinburgh anticipates

the first signs of economic

recovery, the edinburgh

economy watch aims to add

clarity to the complex picture

that constitutes regional

economic performance.

David Hanna explains.

What is the Edinburgh Economy Watch?The economy watch is a monthly-updated electronic bulletin, produced by the council’s economic Development unit, which monitors edinburgh’s economic performance through the presentation of the latest information across a range of indicators.

How can I sign up to the Economy Watch?you can download the latest issue at www.edinbugh.gov.uk/economicdata. To be added to the mailing list, send an e-mail to [email protected] with “subscribe” in the subject box.


TraNspareNcy Key To BuIlDING coNfIDeNce

<aNalysIs

as edinburgh anticipates

the first signs of economic

recovery, the edinburgh

economy watch aims to add

clarity to the complex picture

that constitutes regional

economic performance.

David Hanna explains.laTesT TreNDsThe table below summarises the indicators tracked in the June edition of the economy watch. as expected, there are no positive annual trends, but there are some encouraging signs of improvement among some of the indicators, reflecting the widespread sentiment that the downturn may have bottomed-out.

Despite the economic downturn, statistics show that Edinburgh’s tourism sector is bucking the global trend and remains strong.

with current exchange rates raising the costs of trips overseas, 33 percent of uK residents surveyed by Travelodge in June intended to holiday within the uK rather than travel overseas. edinburgh was the fifth most popular holiday destination amongst uK tourists planning to holiday in the uK in summer 2009. The survey found that edinburgh is anticipated to receive 119 percent more visitors than in summer 2008, an increase worth £400 million to the city.

Hotel occupancy in edinburgh in april 2009 was 77.2 percent,

according to figures from pKf. This was significantly above the average for regional hotels (63.9 percent) and only slightly below london (82.5 percent).

figures from sTr Global reveal that average weekend revpar (revenue per available room) in edinburgh over the first five months of the year was £64, higher than any other uK city bar london. This compares to an average for regional uK cities of £40. weekday revpar was £46, behind only london and manchester.

edinburgh’s visitor attractions also remain popular, with edinburgh castle receiving 230,000 visitors in april and may – up 10 percent on 2008.

IndicatorAnnual Trend

MonthlyRelative to Other Cities

Since Last Month...

HousingHouse prices are up 12.1%House sales are up 18.9%

Planning and development

N/aplanning applications received are up 19.7%Building warrants issued are up 5.7%

City centre performance

N/a parking utilisation is up 3 percentage points

Tourismairport passenger numbers are up 9.3%Hotel room occupancy is up 4 percentage points

Labour marketclaimant count is steady (up 0.8%)Vacancies are up 15.5%

InvestmentNew incorporations are up 31.2%Business Gateway start-ups assisted are down 28.8%

FURTHER INFORMATION

for more detailed information across each indicator, download the latest economy watch at www.edinburgh.gov.uk/economicdata.

eDINBurGH sNapsHoTencouragingly, edinburgh performs better than the competitor cities across all of the four areas where comparison is possible. House prices rose by 12.1 percent between april and may in the capital, compared with 1.3 percent in comparator cities. Tourism indicators are positive too, with edinburgh airport the only Baa airport to see passenger numbers increase in may compared with last year. unemployment is

much lower than in comparator cities, and the gap is widening. In may 2008, the claimant count was 1.8 percentage points lower than in comparator cities. This gap has now increased to 2.6 percentage points. meanwhile, the number of new incorporations has increased compared with last year in nine of the last ten previous months, compared with just four of the last ten for comparator cities.


EDINBURGH: KEY INDICATORS

1) POPULATION & HOUSEHOLDS

2004 LATEST SOURCE

population 453,670 471,650 1Households 209,094 217,654 1average household size 2.12 2.10 1population density (persons /km2) 1,730 1,788 1Natural change (births less deaths) 111 1,070 1Net migration 5,138 2,512 1% of population aged 16 to 64 69.6% 70.5% 1

2) LABOUR MARKET

3) WEALTH & PRODUCTIVITY

mean gross annual earnings £26,534 £33,004 6Gross Value added (GVa) (million) £12,528 £14,192 3GVa per capita (resident population) £27,615 £30,620 3VaT registered businesses 12,370 13,760 3funds under management (all scotland, £bn) £325 £580 7

4) TRAVEL & TOURISM

airport passengers (arr + dep in millions) 7.99 8.99 8uK tourist bednights (millions) 6.1 (2005) 5.4 9overseas tourist bednights (million) 7.1 (2005) 8.8 9Hotel room occupancy 77.0% 76.0% 9edinburgh’s world ranking for conferences 24 28 10

5) HOUSING & COMMERCIAL PROPERTY

owner-occupation (% of households) 70% 65% 11Housing completions 2,668 1,864 12average annual house price £166,207 £198,033 13Total number of house sales 14,893 5,833 13prime city centre office rentals (£/m2) £290.63 £301.39 14office floorspace take-up (m2 gross) 92,512 83,144 14city centre ‘zone a’ retail rentals (£/m2) £2,260.44 £2,368.08 14retail potential uK ranking 25 18 15

population aged 16+ in employment 228,800 248,400 2economic activity rate (wkg age) 79.7% 80.3% 2Ilo unemployment rate 5.2% 3.8% 2Total employee jobs 312,773 308,791 3 claimant unemployment rate 2.4% 3.0% 4long-term (>1 yr) as % of all unemployment 13.9% 6.9% 4

% of pop’n aged 16-64 educated to NVQ4+ 43.3% (2005) 44.2% 2students in higher education institutions 62,220 68,790 5

1 General register office for scotland2 annual population survey3 annual Business Inquiry4 Department of work and pensions 5 Higher education statistics agency6 annual survey of Hours and

earnings7 scottish financial enterprise8 civil aviation authority

9 Visitscotland10 International congress and

convention association11 scottish Household survey12 scottish Government 13 registers of scotland14 ryden15 cacI retail footprint

SOURCE NOTES

72%

average annual hotel room occupancy

2003

74%

76%

78%

2004 2005 2006 2007

80%

0

Net migration

2000 2001 2003 20042002 2005 2007 20082006-1000

10002000

3000

4000

50006000

81.0%

79.0%

77.0%

75.0%

% of working-age population economically active

2000 2002 2004 2006

83.0%

2001 2003 2005 2007

£22,000

mean gross annual earnings

2000 2001 2002 2003 2004 2005 2006 2007 2008

edinburgh’s uK retail ranking

20

25

302004 2005 2006 2007

15

2008 2009

£24,000£26,000£28,000£30,000£32,000£34,000

<THe sTaTIsTIcs


YEAR-ON-YEAR CHANGE IN AIRPORT PASSENGER NUMBERS

pass

eng

ers

6.0%

4.0%

2.0%

0.0%

-2.0%

-4.0%

-6.0%

-8.0%

-10.0%

-12.0%

-14.0%

-16.0%

Source: civil aviation authority. The comparator cities figure is an average of year-on-year changes in passenger numbers at Birmingham, Bristol, cardiff, Gatwick, Heathrow, leeds, london city, luton, manchester, Newcastle and stansted airports.

may 08

JOBSEEKER’S ALLOWANCE CLAIMANT COUNT (%)

Jun 08 Jul 08 aug 08 sep 08 oct 08 Nov 08 Dec 08 Jan 08 feb 09 mar 09 apr 09 may 09

edinburgh

comparator cities

% w

ork

ing

ag

e p

op

ula

tio

n

6.0%

5.5%

5.0%

4.5%

4.0%

3.5%

3.0%

2.5%

2.0%

1.5%

1.0%

Source: Nomis. The comparator cities figure is an average of Jobseeker’s allowance claimant counts in Birmingham, Bristol, cardiff, Glasgow, leeds, liverpool, manchester, Newcastle and Nottingham.

may 08 Jun 08 Jul 08 aug 08 sep 08 oct 08 Nov 08 Dec 08 Jan 09 feb 09 mar 08 apr 09 may 09

edinburgh scotland comparator cities

KNOWN LARGE-SCALE FOREIGN INVESTMENTS IN EDINBURGH

Inve

stm

ents

5

4

3

2

1

0

may 08 Jun 08 Jul 08 aug 08 sep 08 oct 08 Nov 08 Jan 09 feb 09 mar 09 apr 09 may 09 Jun 09

350

300

250

200

150

100

50

10

Job

s cr

eate

d

Source: fDI markets

Investments

Jobs created

uK

Dec 08

<maKING IT HappeN 11


eDINBurGH’s esseNTIal selecTIoN significant progress has been made in recent months by essential

edinburgh – the company established to run the first Business Improvement

District (BID) in scotland’s capital. Jane wood, chair of essential edinburgh explains.

The BID encompasses key trading and business streets in the city centre, including princes street and George street and those linking the two main thoroughfares. Key aims include making the city centre even cleaner, safer and better marketed. a new executive team, with myself as chair and Tom campbell as chief executive, has been in place for the past few months to drive activity, and after months of hard preparatory work and tough negotiation the visible signs of progress are there for all to see.

“The essentials” – the street cleaning and ambassadorial teams that are a key plank of the company’s activity – are out and working on the streets of the city centre. The teams have the following roles: The clean team in their green outfits will improve and enhance the environment by augmenting the services provided by the city of edinburgh council. working in teams of four from 7:00 to 18:30, seven days a week, the clean team will:• Removelitterfromprivatelandthatis

accessible to the public, and• Coordinatedeepcleaningandchewing

gum removal and combat graffiti and fly-posting in the area.

The ambassadorial team will be easily recognisable in their distinctive purple uniforms.

working from 10:00 to 19:00 on monday to saturday and from 12:00 to 18:00 on a sunday, their role is to:• Provideassistancetovisitorstothearea

with information and directions such as where to find a place to eat or the location of a particular shop,

• Enhancethegeneralambienceofasafeand welcoming city centre by their presence. another benefit is that they are trained in first aid, and

• Reportanti-social,criminalor suspicious behaviour. another initiative has seen the

introduction of a child safe zone to ensure the safety of children and vulnerable adults across the city centre. retailers will provide the parents and guardians of young children and vulnerable adults with free wristbands that they can write a phone number on, enabling them to be quickly reunited should they become separated. The aim of the initiative is to underline edinburgh as family friendly, and the scheme is open every day of the week, year round.

The redevelopment of st andrew square Garden is another cornerstone in

the BID area. The garden underwent a £2.6 million

refurbishment funded by the city of edinburgh council and scottish enterprise

before being officially opened to the

public for the first time in its 238-year history and recently played host to a highly acclaimed exhibition of “Views from space” as part of the edinburgh International science festival.

lisa Dransfield, a communications expert with a significant background in broadcasting, has joined essential edinburgh to head the company’s marketing and communications activity. Improved marketing is a key objective for the BID and planning for a new marketing campaign is well underway.

work also continues on a number of initiatives – for example to develop an alfresco dining strategy for city centre restaurants, cafés and bars in partnership with the city of edinburgh council.

It is vital that we deliver an environment that provides our businesses with a competitive edge in these economically difficult times, and that we offer a constructive, influential voice for our 600 member businesses in all matters that affect the city centre.

I believe edinburgh benefits from the strong partnerships that exist between the public and private sector. The city of edinburgh council are a key partner for us, as are lothian and Borders police, and we will continue to work positively with them both.

FURTHER INFORMATION

www.essentialedinburgh.co.uk

<aDDeDexTras


eDINBurGH:IN a class of ITs owN

enjoying the best years of their lives in edinburgh schools may seem a misnomer to clock-watching students counting down the hours and minutes before the school bell heralds the end of another day. But enjoy it they should, for few cities can claim the educational reputation of edinburgh, a city that sees 53 percent of its students go on to further or higher education.

many notable personalities have built their success on the foundation of an edinburgh schooling. alexander Graham Bell was educated at the city’s royal High school, former prime minister Tony Blair studied at fettes college and James Gillespie’s High school for Girls helped develop the literary genius of Dame muriel sparks.

Together they epitomise the capital’s educational ethos, described by Gillian Tee, Director of children and facilities for edinburgh as “providing, for all children, first class teaching and learning facilities so they have the opportunity to maximise their educational potential.”

This potential is nurtured young. from early education available in nurseries to primary schooling, skills, knowledge and understanding are tailored towards supporting confident, independent individuals.

realising potential and preparing for life outside school is the focus of secondary schooling. of course, attention soon focuses on the nail-biting experience of examinations, and parents can rest assured that edinburgh offers a myriad of qualifications to reflect their children’s abilities.

currently, between the ages of 13 and 14, most pupils study for scotland’s traditional three-tier standard Grades, taken at foundation, general or credit level. This will change in the near future however, and in June 2009 the scottish Government revealed proposals to replace standard Grades with new national qualifications. pupils achieving the latter two levels of the current standard Grades can go forward for Highers at 16 years, before progressing to advanced Highers at 17 and on to university acceptance.

students can, however, study for qualifications away from scotland’s traditional academic set up. many edinburgh schools, especially in the private

sector, offer Gcses to 15 and 16 year olds, a great benefit to students moving to edinburgh from outside scotland. 17 year-olds can also substitute Highers with Gce a-levels.

The internationally-recognised International Baccalaureate (IB) is also gaining support in the capital. fettes college has trail-blazed the qualification, for reasons highlighted by the school’s headmaster michael spens. “IBs encourage pupils to think for themselves and universities really like it for that reason,” explained michael. other city schools are now going through the IB accreditation process.

However, qualifications are not the raison d’être of schooling. understanding that there is more to student life than exam results, the city’s state schools are going through a major rebuilding and refurbishing programme that will enhance 56 percent of secondary and 21 percent of primary schools by 2010, and not all of it will be spent on academic facilities. creating well-rounded students who feature in all walks of society is something the city is proud of, as illustrated by George watson’s college, whose former pupils include four-time cabinet minister sir malcolm rifkind mp, olympic cycling champion sir chris Hoy and internationally respected dance music act mylo among its list of former pupils.

edinburgh extols the virtue of lifelong learning and its schools and colleges offer a myriad of evening courses for adults of all ages covering subjects ranging from business and computing to energetic feng shui. Its educational establishments also offer a wealth of foreign language courses as well as facilities to study english at beginner, elementary and intermediate levels for International students. These can be combined with other studies to allow for national qualifications such as stevenson college edinburgh’s Tourism with english.

whether opening new doors, expanding young minds or sowing the seeds for future success, education in edinburgh passes all tests with honours.

FURTHER INFORMATION

www.edinburgh-inspiringcapital.com/ study.aspx

you can get this document on tape, in Braille, large print and various computer formats if you ask us. please contact Interpretation and Translation service (ITs) on 0131 242 8181 and quote reference number 09044/29. ITs can also give information on community language translations. you can get more copies of this document by calling Kyle Drummond on 0131 529 4849 or emailing [email protected].

invest edinburgh (july- september 2009)

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