Exeter City Council

Reasons to invest in Exeter - Competitive, Vibrant & Innovative

• Competitive Location - Rents and rates of prime office space are typically lower than competitor cities, including Bristol, Birmingham, Manchester, Reading, and London (King Sturge).
• Median earnings are lower than competitor locations; nearly £4,000 lower than for Great Britain and over £2,500 less than Bristol.
• Economic activity rates exceed that of many competitor locations, including 8% higher than Bristol, 15% higher than Birmingham, and 18% higher than Manchester.
• Vibrant - There are 3.75 million sq ft (348 thousand sq m) of office space.
• Around 43,785 m2 (470,000 ft2) of new office space has been built over the last 5 years (King Sturge).
• In the medium to long term, significant investment in the region of €1.5 billion is planned east of Exeter, along the corridor between Junction 29 of the M5 motorway and Exeter International Airport, in road and rail infrastructure, strategic employment land including Exeter Science Park and the creation of a new community.
• Innovative - The University of Exeter is implementing its £450 million investment on campus, a key part being its Science Strategy, involving £80 million across five globally important interdisciplinary research themes.
• Nearly 40% of employers are knowledge based businesses.

Assistance and Support For New Business Investors

The Economy and Tourism Unit handles over 1,000 investment enquires every year.

Exeter’s economy continues to provide a very profitable base for many organisations whether compared regionally, nationally or internationally. This success has been influenced by many factors including the quality of education, training and research, the flexibility of the workforce, reliable high end connectivity and transport access, lower operating costs, the availability of outstanding sites, accommodation and housing and the undoubted overall quality of life.

We are absolutely focussed on establishing the Exeter economy as one of the largest concentrations of high value employment in the South West. A major programme of investment is in place for the Exeter and East Devon New Growth Point, which is one of the largest multifaceted and sustainable developments in the UK.

For major investment projects, we establish multi-disciplinary and multi-agency public/private teams, to ensure strategic decisions and timely actions are taken to deliver critical paths. Our experience in project managing the relocation of the Met Office – the largest IT relocation in Europe, with over 1,000 staff and their families to Exeter in 2000 to 2003 – demonstrates our professional commitment. Our support in helping the Met Office to fully integrate and play a vital role in Exeter’s city economy is probably second to none.

Exeter City Council is determined to encourage new business. We work closely with the University of Exeter and its Innovation Centre, http://www.spaceforsuccess.co.uk and also through our partnership with Exeter Business Support http://www.exeterbusinesssupport.co.uk .

Existing Business Base

Exeter’s economic area has nearly 20,000 employers; principal sectors are:

• public administration, education and health (36.8%, GB 27.0%)
• distribution, hotels and restaurants (including retail and tourism; 21.3%, GB 23.4%)
• professional and business services (including legal and finance; 20.3%, GB 22.0%)

Exeter is located centrally in the South West and has wide ranging connectivity by road, rail, and air across the UK, and by rail and air into Europe. In addition, the city has strengths arising from key employers like the University, the Met Office and the Peninsula Medical School, its cultural activities, and its retail diversity - most notably from the £250 million investment in Princesshay. This, together with its high environmental quality and setting, 30 minutes from the sea and moors, has encouraged strong economic growth in the City over the past 20 years.

Exeter’s role as a major Regional Centre is mirrored by its attraction for tourism activity, as part of the sub-region known locally as ‘Exeter and the Heart of Devon’, and draws in over 7.5 million day visitors every year as well as nearly 2 million staying visitors.