Tough competition as city puts forward bid to be home of green bank
DERBY has submitted its bid to become home to the new Green Investment Bank – but it can expect to face tough competition from 31 other areas.
The Government announced in 2010 that it would set up the bank, known as the GIB, to funnel money to firms developing green technology.
Ministers are expected to decide next month where the bank's headquarters will be based, bringing with it the prospect of 100 jobs and fresh investment.
Yesterday, Business Secretary Vince Cable revealed he had received 32 bids from across the UK.
They include London, Liverpool, Manchester, Newcastle, Bristol, Leeds and Cardiff.
Nottingham and Leicester have also thrown their names into the hat.
The city's bid was submitted this week by the Derby Renaissance Board. It highlights a number of firms that have been pioneering green technology.
They include car-maker Toyota, which last year installed a huge solar array which provides power to its Burnaston plant.
Philip Hickson, the leader of Derby City Council, said: "The heart of our case is simple. Our compact and accessible location in the centre of the country offers an ideal opportunity for the GIB."
Derby North MP Chris Williamson said: "The future of the GIB is based on innovation, for which Derby's companies are world renowned."
The bid was also supported by Mid-Derbyshire MP Pauline Latham, who said: "Derby offers the GIB an accessible, cost-effective location which will enable it to access and deliver funding streams which will support the UK's drive towards a carbon-neutral economy."
The Green Investment Bank will open with £3 billion to give to companies working on green projects, such as off-shore wind farms, and is expected to lever in further private-sector investment of up to £15 billion.
But with the bank itself needing 100 staff and likely to attract other green industry firms, hosting the GIB has become a hotly-contested prize.
In terms of a location for the GIB, Derby is hoping the Government will be attracted to one of its city-centre office developments.
Ashley Hancox of CBRE, joint agent for the £20 million Friar Gate Square office development, said: "The environmental credentials of these buildings offers a compelling argument for businesses in any field to locate within the city."
All the submissions will go before a review panel and a final decision will be made by Mr Cable.
8 Comments
by Purple_T
Thursday, February 02 2012, 9:00PM
“@Wafty
I was there too, right at the front ;-)”
by Wafty
Thursday, February 02 2012, 6:33PM
“sorry dianae, but this is plain and simple high-jacking of a thread to (yet again) trot out the same old figures regarding the incinerators - I suspect that FoE may well be correct in what they say regarding the potential impact, but I see nothing in the article to suggest that the GIB will be investing in the Derby incinerators or similar schemes. Indeed, as far as I can see, the only link between the GIB and the Incinerators has been made by Derby FoE. Their constant wailing does their cause no good at all......particularly at a time when we all (FoE included) should be welcoming the potential for new jobs.”
by dianae
Thursday, February 02 2012, 5:34PM
“Wafty - the information from FoE is interesting as it gives background to what the GIB may be investing in - it is as relevant as the information (that you didn't object to) in the article about Toyota being a green business.
It is obvious that London should not be chosen - as the agency would get much better value for its money in Derby in terms of office space and also benefit from high competition for the jobs rather than have to pay more for less keen people in the South east.”
by Wafty
Thursday, February 02 2012, 2:45PM
“Derby FoE, there really is no need for you to keep trotting out your statistics over and over again - if it had direct relevance to the story, then fair enough, but this is about bringing jobs to the city...
For info, I'm more than aware of the effects of heavy metal thanks (slight loss of hearing/ringing in my left ear - I believe due to Motorhead at the De Montford Hall in 1982)”
by B_o_b1
Thursday, February 02 2012, 12:47PM
“No Green_roads rant yet I see...”
by littlemoaner
Thursday, February 02 2012, 9:46AM
“"Call me cynical, but we have no chance.
(Tom)"
I'd rather call you Julie, Tom ;)
But I would agree with you, if it was a private company then possibly, but with it having aGovernment involvement it will go somewhere within spitting distance of London, the M25 or M4 corridor
and FoE - this is NOT an article on incineration, do you have any on-topic comment to make?”
by JulieFulep
Thursday, February 02 2012, 9:31AM
“Thirty two bids across the UK. Call me cynical, but we have no chance.
(Tom)”
by DerbyFoE
Thursday, February 02 2012, 8:17AM
“It willbe interesting to see exactly what constitutes 'green investment'..
Here are some figures for a few of Derby's so-called 'low-carbon' sustainable developments -
1/RRS/Shanks Derby incinerator (inquiry in June 2012) - =172,000 tonnes of carbon dioxide each year, yet claimed to be low-carbon
2/ O-GEN/Clarke/Boyle incineration plant due to start up in July 2012, behind Sainsburys and B&Q on Osmaston Park Rd - to produce 30,000 tonnes of Carbon dioxide each year. Again claimed to be low-carbon
3/Planned incineration plant at Sainsburys, Kingsway, - to produce 2000 tonnes of carbon dioxide each year. Guess what the claim is??
All of the above will of course also produce dioxin, heavy metals and other nasties.
Sustainable development does not mean adding pollution in the form of nitrogen dioxide, to Air Quality Management Areas (AQMAseither. NO2 contributes to rising rates of asthma, especially in the young living around AQMAs –ie the inner and outer ring road
The GIB need take into consideration the new studies announced by the Health Protection Agency, to be carried out around 'modern' incineration plants, - on birth defects, low birth weights etc. Some areas of the city already suffer low birth weights (Enviros 2008)
The effects of heavy metals can be seen here; -
http://tinyurl.com/3hg6apc
Derby and South Derbyshire Friends of the Earth”