In normal times the agency would see 200-220 businesses set up or move into the region under its remit – the city of Paris and its eight neighbouring administrative regions or “departments” – every year. But a change in climate has hit the region.
“2009 is largely played out,” Mr Baudoin says. Business investment is tied to mergers and acquisitions activity, which has shown a 30 per cent fall in the first eight months, leading him to expect a similar decline in activity in 2009.
With the private sector catching an investment cold, that puts the burden on public authorities to maintain the spending needed to keep Paris attractive in the global market and provide amenities that companies and employees require. Public investment is more likely to go ahead, Mr Baudoin says keeping hope alive that Paris will retain competitiveness. Transport links and a “greening of the Ile de France” are two priorities that he hopes will help the capital develop.
