Ken Frankish: "Since CDDC was started in 1988, there have been 287 inward investment projects into the county from 21 different countries, creating 14,500 jobs.

"The county council has invested £12.5m in that time, working out at about £500 a job, so it is money well spent as far as we are concerned.

"In the future, Mark faces the prospect of more inward investors, like Fujitsu, pulling out of the region, but I don't regret putting all the hard work in to bring them here.

"I was on the board that brought Fujitsu here in the first place. They were a tremendous company, upping the skills of people in the area. When they pulled out, 80 to 90 per cent of their workforce got new jobs.

"On top of that, we managed to convince Filtronic and Sensetronics to come and fill the gap. If you look at it that way, we managed to create more jobs when Fujitsu left than when they first came here."

MARK LLOYD: "The development company has done the hard work to attract inward investment to the county, but at the same time it hasn't forgotten the local businesses, helping them to grow and prosper.

"We have focused on helping the business start-ups and helping the small firms through the tough times, and helping them to expand when the conditions improved.

"Local people don't see the good being done by local companies, but the odd inward investment, or 287 in our case, grab all the headlines.

Frankish: "The 287 inward investment projects haven't all been massive. We have brought in many small companies from abroad in the hope that they will use the county as a base to grow.

"The inward investors act as a catalyst for the indigenous companies to prosper."

LLOYD: "The Interprise events are a good example. All these businesses from all over the world have visited County Durham to see what it has to offer, and at the same time, local companies have forged vital trade links, showing what a supportive environment the county is.

Frankish: "What we need is something like Interprise on a regional scale, helping the region and County Durham to win a slice of the manufacturing cake.

If we don't get it, it will go to other countries in Europe and the US, places like Sophia Antipolis in France and Research Triangle Park in Durham, North Carolina.

"We need to follow the example of areas like North Carolina. When the cotton and tobacco industries collapsed, they invested in new technologies.

"The NetPark development will be the future. It will create about 1,000 or so jobs in the first two to three years, and after that who knows how many more."

LLOYD: "The reality of global economics is that a developed nation like the UK is going to struggle to compete for manufacturing, particularly low-skilled manufacturing, so we have to be adding value.

"We will do that with a development like NetPark, where high quality research and development jobs will be created.

"We must attract, or set up our own businesses that are about brain power. Those jobs will attract further quality jobs and create a better environment for the people of County Durham."

Frankish: "The achievements of County Durham are astounding. Twelve years ago, unemployment was 20 per cent - now we've got that down to six per cent. But we are just at the starting line now. We are on an equal footing with other places, showing how dramatic the changes in this county have been.

"The job is a different one now. It's about developing skills so people can move forward."

LLOYD: "The University of Durham and other universities in the region have some incredible research facilities. They have clients all over the world for that brain power.

"We want to build a cluster around that power, and that is why we are working on NetPark. We can say to the businesses that set up there, that they will be close to the combined brain power of the region's universities, in a great environment."

Frankish: "The jobs we want to create here are the ones that have traditionally been created in places like Cambridge. We need to get our share of research and development, stopping our graduates from packing their bags and heading south."

LLOYD: "The number of former Durham University students working in Microsoft in Seattle in the US is incredible. We have to stop losing those people from the region."

Frankish: "Bracken Hill is a good example of the CDDC and Durham County Council working together. It has created 2,500 jobs so far, many of them were working in the textiles industry just a few months ago, and now work in call centres.

LLOYD: "It would be foolish for County Durham to say no to further inward investment. If they want to come, then we will welcome them, helping local people to learn new skills.

"We need to ensure that we are always creating new opportunities. We've learned the lesson in the past that nothing lasts for ever. No one has a job for life. It is estimated that people have five different careers in their lives."

Frankish: "When all the pits closed it tore the heart out of the county and the region. But what has been done to replace those jobs?

"However, it's now time for the next generation to take over. That's why I'm handing over to Mark.

"I've enjoyed my time and there have been some amazing changes. My biggest achievements have been working with the inward investors and the development of the riverside, particularly the cricket ground at Chester-le-Street.

"We wanted to make things happen in County Durham and I think we've achieved that. We've put the infrastructure in place to make things happen.

"When I first started, people in the North-East were rivals. Now they work together and we are all pulling in the same direction."

LLOYD: "My job is perhaps a little harder now, although a lot of the difficult things have been done by Ken and his team. The legacy that has been left for me is superb.

"I have to take forward a slightly different agenda, making sure we create a more entrepreneurial culture in the county. We have a low rate of business formation and a higher than average rate of business failure.

"We have to motivate people to start their own businesses, equipping them with the desire and motivation.

"County Durham still needs to do some work to promote itself as a location for business. We have to do work around skills. Most importantly, I've got to live up to the achievements of Ken and his team."

Frankish: "Times are different now and the challenge is a different one."

LLOYD: "Ken has helped to create around 2,000 jobs a year, averaging it out in the peaks and troughs. I hope to maintain that performance in the future. But it will be a tough act to follow.