Charnwood Business

Key Competitive Attractions

Charnwood, home to 155,000 people, with around 55,000 living in Loughborough, is situated at the centre of the three cities triangle of Leicester, Nottingham and Derby, all of which are within easy reach (30-45 minutes). It has excellent transport links by road, rail and air to all parts of the country. Charnwood offers a high quality of life with wide choice of living environments, from leafy villages to lively market towns. This makes it a home of choice for many people who work in Leicester.  There are nearly 1.25 million people who are economically active within 45 minutes driving time of Loughborough.

Whilst Loughborough, located at Junction 23 of the M1, is a market town, it also has one of the country's top ten universities, giving it a vibrancy not usually found outside the cities. The University is also the location for the developing Science Park, destined to become one of the largest in the UK. This reflects the area’s strength in science, technology & engineering, R&D, advanced manufacturing and healthcare & pharmaceuticals.

Businesses or organisations that are looking for a central base should consider not only Loughborough but also South Charnwood, which borders Leicester City but can also offer good road access and easy parking. Similarly the nearly 850,000 economically active people aged 16-74 in the areas, can drive to a job in South Charnwood in 45 minutes. Over 4 million people live within a one hour drive of South Charnwood - equivalent to the population of the entire East Midlands.

Assistance and Support For New Business Investors

The type of support available depends upon the scale and type of company. The Council works closely with Prospect Leicestershire, the groundbreaking new economic development company for Leicester and Leicestershire. Its mission is to support potential inward investors, developers and businesses; it provides an extensive, free and confidential package of assistance to help identify the full range of ˜hard' and ˜soft' benefits of choosing this area as a business location. Prospect Leicestershire can assist with establishing businesses in the area by:

• Working with a company to define their location needs
• Undertaking specific research to support individual relocations
• Providing the latest comprehensive information on sites and premises
• Arranging personal tours of the area to explore the different opportunities
• Liaising with professional intermediaries including recruitment and training advisers

The Council can help with planning applications or finding existing accommodation, information about housing, education, health & social care, transport, labour market, recruitment, skills, relocation information for employees; introductions can be arranged with key business leaders and the extensive local business networks.

Existing Business Base

Charnwood has a diverse and resilient economy. It is the biggest local centre for employment outside the city of Leicester and still has a strong manufacturing base. Traditional industries like textiles, hosiery, printing and heavy engineering have been replaced by hi-tech manufacturing and engineering, for which it is one of the top centres, drawing upon the expertise of Loughborough University. Largely as a result of this strength in hi-tech industry, over 43% of Charnwood people work in the "knowledge" economy (above regional and national averages). It is also very strong in R&D, healthcare and pharmaceuticals, with world class companies like Astra Zeneca and 3M Health Care. There is also significant employment in the construction (building and mineral extraction) industry and in public administration, education and health. The business base, as judged by overall business rates, has grown appreciably in the last five years (ca 20%). Whilst Loughborough is the main business base, South Charnwood is increasingly popular as a business location, because of its proximity to Leicester. There has been a significant growth in working age population here in the last few years, and the area has higher than average numbers of people with NVQ levels 4 and 5 qualifications.

(Read labour market profile)