Exeter City Council

Key Competitive Attractions

Strong Economy

• Over the past 10 years, the Exeter economy has been the 7th fastest growing in the UK for job creation. Exeter’s performance, creating 34,000 new jobs, compares favourably with Westminster, Edinburgh, Cardiff, and Belfast.
• Economic growth continues apace in Exeter. The most significant investment, likely to be over €1.2 billion, is the Exeter and East Devon Growth Point. Developments include new strategic employment sites, improvements to motorway and rail infrastructure and the creation of a new market town. The developments forecast a net increase of 26,000 jobs.

Competitive Location

• Rents and rates of prime office space are typically lower than competitor cities, including Bristol, Birmingham, Manchester, Reading, Leeds, and London (Jones Lang LaSalle).
• Median earnings are lower than most other competitor locations; approximately £500 lower than the average for England and Wales and over £1,200 less than Bristol.
• Exeter’s workforce has a ‘can do’ attitude. They are loyal, hardworking, stable, and versatile. Exeter’s economic activity rate of 82.3% makes it one of the highest in the UK.

City of Science

• Exeter is home to world leading scientists and top research facilities, including the University of Exeter, the Met Office, and the Peninsula College of Dentistry and Medicine. Breakthroughs have made significant advancements in the world of science.
• The University is ranked in the world’s top 1% of universities. It is the 25th fastest growing business in the UK.
• The University supports industry and helps businesses to innovate.

Assistance and Support For New Business Investors

The Economy and Tourism Unit receives between 700 and 1,000 enquiries every year from businesses and investors. Often they are looking for available commercial sites and premises or for a ‘commercial match’: a local company in which they can invest. We pride ourselves on dealing with all such enquiries within a short time frame.

In recent years, Exeter’s economy has performed well in regional, national, and international comparisons. This success has been particularly influenced by the quality of local education, training, and research. Also, the local workforce, often recognised as being flexible, is more cost effective than many other parts of the country. This can mean lower operating costs for expanding or relocating businesses. We can supply details of excellent sites, accommodation, and housing.

For major projects, we would use our business networks in both the public and private sectors to create a team of related professionals. This team approach would develop a strategy to make effective decisions and help meet critical deadlines. Our experience in project managing the relocation of the Met Office demonstrates our commitment. This was probably the largest IT relocation in Europe at the time, with over 1,000 staff and their families relocating to Exeter between 2000 and 2004. The Met Office still plays a vital role in Exeter’s city economy.

Exeter City Council wants to encourage new business. We work closely with the University of Exeter and its Innovation Centre. We also have a partnership with Exeter Business Support.

Existing Business Base

Exeter's economy has nearly 20,000 employers. Principal employment sectors are:

• Public administration, education, and health (32.0%, GB 28.8%),
• Professional and business services (including legal and finance; 19.2%, GB 18.8%),
• Distribution, hotels and restaurants (including retail and tourism; 18.3%, GB 21.6%)

Exeter is a successful, progressive city and, after Bristol, has the largest concentration of high value employment in the South West. Exeter has high concentrations of employment in legal, financial, scientific, engineering, and technical services, supporting businesses locally, nationally and internationally. The Exeter and East Devon Growth Point, one of the largest sustainable developments in the UK, will add to the concentration of knowledge based employment in the city's economy.

Exeter's existing business base includes Eclipse Internet, the Flybe Group, Graphic PLC, the Met Office, Mantracourt Electronics, the Peninsula School of Medicine and Dentistry, the Pennon Group, South West Communications Group, Supercat and the University of Exeter.

Tourism is also an important industry for Exeter and the wider region of the ‘Heart of Devon'. Exeter is just 30 minutes from both the Jurassic coastline and wild moorland. Over 7.5 million day visitors visit the area each year, 2 million of which stay at least one night.
Exeter's retail offer is ranked as one of Great Britain's top 30 retail catchments. With the opening of a John Lewis store in 2012, Exeter's retail ranking is likely to rise to 25th position. This will further enhance Exeter's reputation as one of only 10 quality retail centres across Great Britain.