Investment proves Leicester is a business hotspot

MIRA TECHNOLOGY PARK

Business growth hotspot

Recent and planned investment of £2bn in Leicester clearly demonstrates the success of public and private sector partnerships. Sarah Harrison, City Centre Director explains why Leicester and Leicestershire are recognised as a growth hotspot in the UK for small and large businesses

MIRA PHOTOGRAPH: HORIBA MIRA/(VISIT LEICESTER

Leicester is known internationally as the city of the Premier League Champions who beat 5000-1 odds, the same as Elvis being alive, and the discovery of the remains of King Richard III under a car park after more than 500 years. However, Leicester and Leicestershire are also fast gaining a reputation as a growth hotspot for businesses across different sectors including aerospace, creative and digital, financial and professional, food and drink manufacturing, advanced logistics, advanced manufacturing or engineering, and life sciences.

A recent video highlights the £2bn of recent and planned investment in the city referenced in the City Mayor’s Connecting Leicester scheme, which has seen the transformation of the city centre as a result of improved connectivity and high-quality public realm improvements. The range of projects and substantial investment demonstrates very clearly the success of public and private sector partnerships in the city and what can be achieved with a shared vision and aims. Leicester City Council’s YouTube channel provides a helpful look into the vision.

Leicester has one of the UK’s most youthful and dynamic populations with a median age younger than Birmingham, Coventry, Bristol, Newcastle and Edinburgh. The 2021 census data shows that Leicester’s population had increased over 10 years by nearly 40,000 to 368,600 – and grew faster than England, increasing by 12% since 2011 compared to 7% for England. Forbes magazine reported in 2020 that Leicester had seen a huge rise in new start-ups and was ranked fourth in 2021 for new business. Further studies have rated Leicester as the ‘Most Entrepreneurial City’ in the UK (from Superscript and Instant Offices). This achievement was celebrated by the recent publication of the city’s first Entrepreneurial Guide featuring 20 powerful stories by city entrepreneurs.

Leicester and Leicestershire are the largest economy in the East Midlands, offering a vibrant, colourful and exciting region to live and work in. Over half a million people work in the area with a further 2.8m workers living within commuting distance.

The appeal to businesses is strengthened by the excellent road, rail and air transport links with London just

Studies have rated Leicester as the 'Most Entrepreneurial City' in the UK

over an hour away and mainland Europe accessible within four hours by train. East Midlands airport is the UK’s largest pure cargo airport and national hub for DHL, TTY, UPS and Royal Mail.

It’s no surprise, then, that a number of major international companies have chosen to base their operations in the city and county. This includes companies that are Leicestershire ‘born and bred’ like Next, Walkers and Triumph, or more recent arrivals like Mattioli Woods and IBM, with brands like Amazon and DHL benefiting from the excellent connectivity for their processing centres.

Alongside the logistics and service industry boom, Leicestershire is also a hub for high tech industry, thanks in part to its three world-class universities. Many of the latest innovations in the automotive industry come straight from MIRA Technology Park, Europe’s leading research and development site, which includes both engineering labs and test tracks.

Located next to the National Space Centre – building on the city’s reputation for innovation in space – is Space Park Leicester, which brings together leading researchers with industry experts to develop new technology for space exploration and analyse data from space missions. The project is led by the University of Leicester in partnership with Leicester City Council and the Leicester and Leicestershire Enterprise Partnership (LLEP).

LEICESTER CASTLE BUSINESS SCHOOL

SPACE PARK

New business support

There is a huge amount of support within the city and county for new businesses to the area, but it can be difficult to know what help is right for your business and how to access it.

A good place to start is the Inward Investment team at Leicester City Council. Mike Denby has recently been appointed as Director of Inward Investment and Place Marketing, having previously led the inward investment activities in Wakefield. He has experience in facilitating business relocations and growth and is keen to attract more quality businesses to the area and raise the profile of Leicester and Leicestershire both nationally and internationally as a destination that is open for business.

Contact Mike via mike.denby@leicester.gov.uk or 0116 454 3545 for advice.