IoD East Midlands Economy Update
We were delighted to recently welcome IoD's Senior Economist Tej Parikh, for those who couldn't attend below is his review of the East Midlands Economy.
Despite wider uncertainty, business leaders in the East Midlands are relatively optimistic. For the region, our Policy Voice survey of members shows revenue, investment, and employment expectations for the year ahead all above the UK total. Indeed, this is reflected in the overall higher levels of economic confidence found in the East Midlands compared to the rest of the country.
Of course, there are tangible drivers behind this. The Midlands Engine is energising the region, building upon the existing strong urban centres in Nottingham, Leicester and Derby, as well as the region’s renowned universities. With growing research facilities we’re also seeing growth higher up the value chain, particularly in the life sciences industry, which is attractive for both domestic and international investors.
Nevertheless there are also a few challenges. Amongst the city hubs are pockets of deprivation that need stronger physical and digital infrastructure to spur growth, while the region’s rural and manufacturing economy will need to find new ways to remain competitive amidst global and technological shifts. This makes up-skilling and support for commercialising the region’s rising R&D and innovative activities important.
Tackling these issues head-on will help to unlock the flourishing economic opportunities across the East Midlands and will certainly create further buzz in the region.
East Midlands Magazine - Summer Update
Click below to read our most recent regional magazine where you can find updates about upcoming events and see what else is happening in our region.