(photo of Kapil Lakhotia speaking to the class)

[Blog article by Shantanu Basu]

Kapil Lakhotia engaged with the Physics & Astronomy Undergraduate Seminar Class on Thursday, Sep 25 with a wide ranging presentation on economic development in London. Kapil is the President and CEO of the London Economic Development Corporation (LEDC). The LEDC is a partnership between the City of London and the business community, and works to assist the growth of local businesses and the attract new businesses to London.

Kapil pointed out London’s strengths in advanced manufacturing (including food processing, automotive parts, defense, and aviation), health care and medical device development, and as a regional headquarters for the administrative arms of many companies. Who knew that London has the most stable and high quality water supply in the world, drawn from two Great Lakes, and that this facilitates the presence of food and beverage giants like Dr. Oetker’s and Labatt’s. Also a defense company with a new $14 B contract and a small aviation company with direct access to an airport. London has some real strengths!

Discussion ensued about the pros and cons of cities spending money on infrastructure to attract businesses, the relative time spent retaining existing businesses versus attracting new ones, and the efforts toward sustainability in London. Part way through Kapil turns to me and says “This is a smart bunch! They are asking all the right questions, and I am running out of good answers.” And on it went. A great chance for P&A students to talk to an economist who is leading London’s 21st century business strategy, and feel the pulse of job opportunities in the local economy.