Formation
The PDC was given an indicative budget of £45 million to be spent over its proposed five year lifetime; in 1994 its corporate plan stated that it had the potential to create over 1,300 new jobs and lever in private sector finance of some £50 million. It was the twelfth development corporation to be set up in the country, and it was created after the dockyard, the traditional major employer in the city of Plymouth, had reduced its workforce from 30,000 to 5,000, resulting in an unemployment rate of 14% in the city. The chairman was Vice-Admiral Sir Robert Gerken, a former Flag Officer at Plymouth, with deputy John Ingham, leader of Plymouth City Council.
Read more about this topic: Plymouth Development Corporation
Famous quotes containing the word formation:
“The moral virtues, then, are produced in us neither by nature nor against nature. Nature, indeed, prepares in us the ground for their reception, but their complete formation is the product of habit.”
—Aristotle (384–322 B.C.)
“That for which Paul lived and died so gloriously; that for which Jesus gave himself to be crucified; the end that animated the thousand martyrs and heroes who have followed his steps, was to redeem us from a formal religion, and teach us to seek our well-being in the formation of the soul.”
—Ralph Waldo Emerson (1803–1882)
“It is because the body is a machine that education is possible. Education is the formation of habits, a superinducing of an artificial organisation upon the natural organisation of the body.”
—Thomas Henry Huxley (1825–1895)