INWARD investment is the lifeblood of a healthy city and Derby has just had a couple of shots in the arm.
Texan oil and gas engineering firm Cameron has selected Derby for a new centre of excellence and will be creating 40 jobs for highly skilled engineers.
Just as significantly, £40 million has been earmarked for the Global Technology Cluster, in Wilmore Road. It has the potential to provide employment space for hundreds of people. The Government is giving Derby City Council the money to realise plans for the site.
A 215-acre site is intended to provide space for small- and medium-sized companies to develop products and services to the aerospace, rail and automotive industries.
This evening, the city council's ruling cabinet will discuss the proposals so that a developer can be secured to get started on planning for the site.
It is hoped that the project will create at least 1,000 jobs within a decade.
A bird in the hand being worth two in the bush, the Cameron deal is hugely encouraging news for the city.
Though the lease has not yet been finalised for the premises, Derby has beaten competition from other cities such as Birmingham, Nottingham and Coventry. This has become a trend in recent years as the city's gravitational pull has increased.
A real coup for the city was attracting aerospace firm Gardner, an enterprise that brought with it more than 300 jobs.
Victory Park, in Sinfin, opposite Rolls-Royce, was eventually chosen over the North West for the firm's headquarters, which will spearhead development.
Gardner also has aspirations to become a major global player in the aerospace industry and has funding in place to acquire more businesses to achieve its aim.
The business park where Gardner has made its home was developed by national firm Revelan and has been a real success story during the dark days of the recession.
It has also attracted NDT Services, which relocated from Kegworth and brought some 140 jobs as well as a number of expanding local businesses.
For both Gardner and NDT Services, the gravitational pull of Rolls-Royce proved hugely important to their relocation to Derby.
The fact is that, while Rolls-Royce is a global company that sources parts and services from across the world, there remains a commercial advantage to being within walking distance of its aerospace base in Sinfin and its marine division at Raynesway.
And the more hi-tech businesses that set up, the more entrepreneurial gravity draws further investment into the city.
The second phase of Victory Park has the potential to attract firms that will create hundreds of further jobs on a site that is ready to develop.
In an ideal world, these units – ranging in size from 10,000sq ft to 110,000sq ft – would be occupied by the time plans for the Global Technology Cluster come to fruition.
While Derby is enhancing its status as one of the world's leading city's for aerospace firms, it continues to build on its standing as a centre for rail engineering.
During the recession, the rail industry, fuelled largely by public spending decisions, has expanded in Derby.
Australian firm MRX Technologies, specialising in monitoring equipment, brought in more than a dozen jobs when it established a base on Pride Park in 2009.
Rail software and consultancy firm Tracsis established a base in Derby in 2011, bringing with it 20 employees and ambitions for further expansion.
Key to the move was the desire to be close to the heart of the UK rail industry.
French flavourings firm Mane also chose Pride Park for its laboratory in 2010, investing £250,000 and creating a dozen jobs.
Proximity to major customers and the central location was key to its decision to make Derby its home.
Software business Games Warehouse brought 40 jobs to Pride Park from Nottingham to make life easier for its employees spread across the Midlands.
And escaping the parking levy in place at the other end of Brian Clough Way was what helped prompt social housing firm Friendship Care and Housing to bring 20 jobs to offices at the Wyvern Business Park.
Of course, HeroTSC has created more than 700 jobs at the former Egg premises and promises further recruitment, while Carrington Carr is setting up a call centre on Pride Park that will employ around 100 people.
Though industrial and office developments on the edge of the city have attracted investment and hundreds of jobs since the recession started to bite, it is in the city centre where the positive impact of inward investment is most keenly felt.
Restaurants and retailers are the public face of the city and though women's high-end fashion store Young Ideas may only employ five people, it has a significant psychological impact.
It took space within department store Bennetts in March last year.
Top designer fashion for women had been absent from the city since August 2009 when the womenswear branch of Cruise, in Sadler Gate, closed its doors.
It creates the right impression and reflects the Cathedral Quarter's aspirations.
Although this kind of inward investment creates relatively few employment opportunities, what it does for the city centre is vital.
Similarly, quality national brands also bring kudos to an area.
Gondola Group, responsible for Pizza Express and Zizzi, had been looking for premises for another Italian eatery.
Having achieved success with two Pizza Express outlets and Zizzi, Derby was a target for Ask, another Gondola Group brand.
The contest for its new restaurant was between the Riverlights development and the Cathedral Quarter.
Just a couple of weeks after the Santanda bar premises became available in the Market Place, Marc Ward, head of acquisitions for the Gondola Group, visited the city.
He gave a talk at the Derby Property Show, met with agents and within a few months, a planning application was submitted to erect signage for Ask.
The restaurant opened in March this year, creating 20 jobs and having an immediate positive visual impact on the city centre.
Now that the city has built up a head of steam, the work being carried out by landlords, property agents, Marketing Derby and the city council is coming into its own.
Success breeds more success, so Derby must not rest on its laurels but keep the momentum up and redouble its efforts to attract good-quality businesses to the city.