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
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“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.”
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“Out of my discomforts, which were small enough, grew one thing for which I have all my life been grateful—the formation of fixed habits of work.”
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