Chamber kicks-off campaign on crucial issue for the regional economy

Amajor new report says economic growth in Coventry and Warwickshire is being put in jeopardy by a shortage of employment land.

The Coventry and Warwickshire Chamber of Commerce has launched an eight-page report into the lack of provision for companies of all sizes and sectors and is writing to each council and MP across the patch to highlight the critical issue.

The report says that companies in the region are struggling to find adequate and affordable space which is holding them back from expansion. This is causing a lag in the local economy and also preventing new jobs being created.

Elsewhere, the report, which has been produced in conjunction with regional property experts who are part of the Chamber’s Employment Land Panel, says there is evidence that some inward investors are choosing to move into other regions due to lack of options in Coventry and Warwickshire.

The report finds that not only is there a current shortfall, there is a distinct lack of future provision for employment space which will lead to a long-term impact on the regional economy.

The Chamber is hoping the report will begin a cross-regional conversation to address the issue so that Coventry and Warwickshire is geared up with the right space to create the right jobs for the city’s and the county’s workforce.

They also want it to lead to more sustainable development of employment space.

Corin Crane, chief executive of the Coventry and Warwickshire Chamber of Commerce, said: “As a Chamber of Commerce, we understand the vital role that employment land plays in driving the economy, creating quality jobs, and attracting new investment.

“By ensuring a sufficient supply of employment land, we can foster an environment where businesses in Coventry and Warwickshire can expand and thrive.

“This, in turn, leads to the creation of new job opportunities across various sectors, providing income and stability for individuals and families in our region. The availability of employment land enables businesses to scale up their operations, innovate, and contribute to the local economy by generating tax revenue.

“In addition to economic benefits, employment land can also support the green and net-zero agenda. By strategically designing and developing employment sites with sustainability in mind, we can minimise environmental impacts, reduce carbon emissions, and promote eco-friendly practices among businesses.

“This aligns with the broader national and international efforts to combat climate change and transition to a greener, more sustainable future.

“It is vital we resolve the critical matter of employment land supply and the provision of commercial premises for all sectors of our economy. This needs to be done through a co-ordinated, crossboundary, cross-authority approach.

“This is now reaching a crucial phase because it is stifling the opportunities of businesses to expand and boost our local economy as well as attract inward investors who are choosing to locate in neighbouring counties where there is a greater supply of infrastructure-ready employment land of all types.

“After consulting our members and partners on the Local Plans of our Local Authorities, District and Borough Councils, we have summarised our initial findings in this new report which includes proposals on a unified approach to tackling these urgent issues and suggesting ways of resolving some of the timesensitive employment land problems that the area is currently facing.

“On the back of the report, we want to ensure that we bring everyone together to make sure that employment land is front and centre of future development plans for the whole region.”

David Penn, of Bromwich Hardy – and a member of the Chamber’s Employment Land Panel – added: “It’s been clear that we’ve had a chronic shortage of land for jobs for many years. There has been insufficient construction of factories and warehouses of all sizes and insufficient land for storage uses such as haulage, wood yards, coach companies, waste and recycling, builders’ merchants, timber merchants and many others.

“This is at the same time as strong demand for such uses, particularly since Covid because of higher levels of online shopping and direct delivery.

“Those sites that have been allocated through Local Authority Local Plans have inevitably been taken up in bulk for large scale logistics, leaving very little for the development of buildings for small to medium-sized companies.”

“Today, we kick off a nine-month campaign to highlight the need for more employment land for businesses in Coventry and Warwickshire to be able to grow.

“A huge amount of work and research has gone into producing this report. It highlights how much space is currently available, how much more is needed and why that is so important for businesses and the people in the region.

“As well as showcasing the need for more employment land, over the next nine months we’ll also be putting the spotlight on some of the incredible regeneration work that is already happening in the region and showing what a great place this is to invest.

“In my view, this is what Chambers do best and I am proud that here in Coventry and Warwickshire we are leading this critical conversation.”

“As a transport company, we can see the impact on a day-to-day basis that the shortage of employment land has.

“Businesses require a range of commercial premises of different sizes and types to be able to grow, take on staff and make a positive contribution to the regional economy.

“It is also vitally important that the transportation of goods is considered when it comes to new employment land. For example, a logistics company such as ours not only requires office and storage space, but also plenty of room in a yard for vehicles.

“It is that kind of example that shows why it is vitally important to have a joined-up, regional approach to this issue and it is great that the Chamber has published this report to make sure this conversation is firmly on everyone’s radar.”

“It is absolutely vital that employment land and its provision for our region is given the same weight as the conversation about housing needs. Without space for businesses to grow, we can’t create the jobs and the economic output that is required to give residents of the region a good standard of living.

“I applaud the Chamber for bringing together a group of specialists to undertake a deep dive into the need for employment land and for producing such a powerful report into the desperate need for more space.”

Lucy Quibell, Holt Property

“It’s been clear that we’ve had a chronic shortage of land for jobs for many years. There has been insufficient construction of factories and warehouses of all sizes and insufficient land for storage uses such as haulage, wood yards, coach companies, waste and recycling, builders’ merchants, timber merchants and many others.

“This is at the same time as demand for these uses has increased, particularly since Covid because of higher levels of online shopping and direct delivery.

“Those sites that have been allocated through Local Authority Local Plans have inevitably been taken up in bulk for large-scale logistics, leaving very little for the development of buildings for small to medium-sized companies.

“Lack of construction of new units means less churn in the marketplace and less second-hand units becoming available to rent or to buy. High demand against low supply means we at Bromwich Hardy have seen rampant inflation in rents and prices which sees no sign of abating, despite current economic turmoil.

“Units become available and get snapped up very quickly. Offices are a particular problem as restricted land supply means very high land values, which are often unviable. In addition, the development of offices is being hampered by exceptionally high construction costs due to inflationary pressures.

“Continuous monitoring of availability and take-up is required so that we have a true picture, and local authorities need to allocate sufficient land supply, not just for “big sheds”, but also for companies of all sizes and sectors.

“Our local economy is exceptionally resilient, but a short-sighted approach to this urgent matter is a real threat to a promising future and that is why it is so important for the Chamber to be leading on this conversation.”

David Penn, Partner at Bromwich Hardy and former Chamber president

For more information on the campaign go to: https://www.cw-chamber.co.uk/about-us/policy-campaigns/employment-land-report/