Scientists from all over the UK will be flocking to Nottingham this week to take part in the 5th national Science City Summit which runs between October 30 and 31.

Part of the welcoming address will see Councillor Graham Chapman, Deputy Leader of Nottingham City Council and Portfolio Holder for Economic Development, thank the science delegates for the role their work plays in beating the economic recession.

"If you look at the currency of power in the 21st Century it is in the development and exploitation of knowledge. Here today in Nottingham we have some first class examples of the way knowledge is exploited and developed," said Cllr Chapman.

"The growth of the knowledge economy is a reason why Nottingham may avoid the worst of recession. The economy has done well to diversify and shift from manufacturing to knowledge based industries. Today over 62,000 people work in the science industry in Nottingham – that’s 1 in 5 jobs – and over the next ten years Nottingham’s science sector is set to create another 20,000 new jobs.

"When you have had ten years of strong growth and there is a sudden drop it is going to feel like recession and we cannot be complacent," he admitted. "But during the '81 and '91 recessions when the retail market declined then someone at a factory in Nottingham would lose their job. That would have a knock-on effect. This is less the case now because the economy has diversified.

"We must continue to build up our science and technology sectors. We can do better in taking forward the translation of scientific information into commercial opportunities – this move is where we must put our emphasis in the future."

BioCity, which hosts the Science City Summit, has just opened a £10m, 100,000 ft2 expansion to become the largest most significant Bio-Science and incubation centre in Europe.

Today new boundaries are being broken within our two leading universities and promising new businesses are burgeoning within the city’s purpose built science parks. Demand for science proprty across the city is going from strength to strength.

Nottingham Science Park has recently opened after a £50m, 12 acre site expansion. Opposite the University of Nottingham the Science Park will be home to progressive companies involved in science, technology or R&D.

The £29m Innovation Park on the University of Nottingham’s Jubilee Campus will offer incubator space and business support for smaller companies.

A medical research cluster is proposed next to the regional hospital. Called MediPark the project will be the first purpose built teaching hospital in the UK. Companies will have direct access to the latest clinical studies and medical technology developments.

Alliance Boots are looking to create a regeneration master plan for the entire site to act as a focus for growth industries closely connected to the city’s nearby universities and science parks. Over 30,000 ft² of lab and 50,000 ft² of office space is already available at the site.

Many of the above developments are close to the new NET Phase Two tram route to Beeston via Chilwell. The tram extensions could provide modern and accessible public transport between the sites and the heart of the city.