Our Economy

This section contains information all about the LLEP economy. Information is taken from a number of national and local data sources including: Business Register and Employment Survey, UK Business Counts, Annual Survey of Hours of Earnings, Annual Population Survey (ONS) etc. (ONS and NOMIS), Claimant Counts (DWP and NOMIS), our Leicester and Leicestershire Business Survey, Labour Market Profiles and Economic Profiles. Click through to find out more.

Our area

Our geographic region covers the City of Leicester and County of Leicestershire which together, make up the largest economy in the East Midlands. Worth £23.4bn a year, our economy is central to the prosperity of the Midlands, providing nearly 500,000 jobs and hosting over 42,400 trading businesses – many of which are in the manufacturing and logistics sectors.

The Leicester and Leicestershire area has a core-periphery structure with a large city (Leicester) at its centre, surrounded by some densely populated towns, which themselves are surrounded by a large rural hinterland. The population of the area is approaching one million people and the area functions as an integrated economic area in terms of travel-to-work and retail patterns, along with transport links.

Our area enjoys a central location in the UK with excellent transport links by road, rail and air. The county of Leicestershire has a high quality natural environment, market towns and attractive villages which make for a high quality of life and a draw for tourism and recreation. Leicester city is a key economic driver, a truly international city of culture and a model of community cohesion.

Our assets

We have some unrivalled economic assets including:

  • a truly vibrant city with a strong industrial and cultural heritage
  • three world class universities delivering cutting edge innovation
  • a central location with two of the largest distribution parks in the country
  • the UK’s largest pure cargo airport
  • a strong and growing manufacturing sector that still forms the backbone of our economy.

Leicester and Leicestershire is home to major international businesses including Next, Walkers Crisps (Pepsico), Triumph, Caterpillar, IBM, Norton, Santander, Wal-Mart, Amazon, DHL, Almac and 3M, and other well known successes such as Dunelm, Samworth Brothers and Pukka Pies!  We have 3 world class Universities in the area that have a tradition of innovation across many sectors.

Tourism makes a significant contribution to the local economy and we have a number of high profile tourist attractions including Curve, the National Space Centre, King Richard III, Twycross Zoo and the National Forest.

Our ambition

Our ambition is to be the most productive economy in the Midlands contributing at least £30 billion each year to the UK economy by 2030.

For more information on our area or about investing in Leicester, visit the Invest In Leicester website.

 

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