A chartered surveyors firm based in Lincoln are feeling cautiously optimistic about prospects of business in the county in 2011.
“Undoubtedly the public sector cuts announced towards the end of 2010 will start to have a significant impact on the local economy and I feel that the general uncertainty will still see business taking a lot of time to recover.
“However I feel that we can actually look forward to 2011 with a degree of optimism,” said Sam Elkington (pictured), senior partner at Hodgson Elkington LLP.
“The reluctance of the main clearing banks to offer better loan to equity deals will continue to hamper the recovery. Nevertheless, Lincoln and the county are benefiting from infrastructure projects which are still progressing and which will clearly give the area an edge that it has not had previously.
“The dualling of the A46 through to the M1 at Leicester will have a significant impact on the county. We have not enjoyed this link before and it will be interesting to see how Lincolnshire, which is such a major food producer, will be able to benefit from this improved road link.
The A46 road improvements to the west of Lincoln bypass are scheduled to start in early 2011 and this will open up Teal Park, the 90 acre employment park to the west of the City.
It is intended that Siemens will be relocating part of their operation from the centre of Lincoln onto this park with a potential operational opening date of late summer 2012. “To see this proposed scheme still proceeding is extremely encouraging,” said Elkington.
The new Local Enterprise Partnerships put forward by central government have also been seen as a significant opportunity by the county, the surveyors believe.
“Lincolnshire was one of the first counties to be awarded LEP status and indeed was the first Partnership to hold its inaugural meeting.
“Bids are to be put forward for European funding for schemes that will benefit Lincolnshire as a whole,” said Elkington.
“The proposed east/west link road in the centre of Lincoln looks as though it will proceed, with planning applications due to be lodged during the course of the early part of 2011 and this again will bring a welcome investment into the City Centre,” Elkington added.