- The Creative Industries
- A return to manufacturing?
- Building a sustainable future
With a population of over 78,000 here in Rugby we can count ourselves as the second biggest town in Warwickshire as well as being the most easterly in the West Midlands.
According to ONS figures, with an employment rate of 85.6% of the adult population between the ages of 16 and 64, this is the highest in the West Midlands and compares very
favourably with many other parts of the country.
What’s more, this is a rate that has been on the rise over the last few years. The corresponding figure for the previous year was 83.9% against an overall level for the West Midlands of 73.8%.
So, while the town’s manufacturing heyday may be behind it, there are certainly reasons for celebration when it comes to the chances of finding a job. Rugby can’t rest on its laurels and
needs to seek new investment from both existing businesses as well as attracting newcomers to the town and its surrounding areas.
There are already several initiatives in place to stimulate growth, including the new business awards programme set to be launched in 2025. As well as celebrating success, it’s hoped that this will also catch the eye of other organisations and encourage them to begin operating in this vibrant region. But which sectors are they likely to come from?
- The Creative Industries
Already, the West Midlands has grown quite a reputation as a centre for the creative industries. This aligns with the national picture where they are estimated to contribute £124
billion to the economy.
One area in which the area is particularly strong is video gaming. So-called Silicon Spa, which is centred around Leamington Spa, has over 40 different studios employing over 3,500 people.
By making Rugby an attractive location for both some of these and other new start-ups it could generate considerable investment. There is no shortage of suitable office space and
by offering preferential business rates the council could make it even more attractive. It could also be a question of looking outside the obvious areas of the creative industries to more niche but equally successful ones.
A good target could be the online casino sector. These rely heavily on programmers to create the games that power this fast-growing and competitive arm of the leisure industry.
This is driven by the operators’ smart tactics of attracting new players, as exemplified by the many review sites that help them find which casino has the best bonus. The UK has already
become a huge player in the industry, so it could very well be worth it for Rugby to try and get a slice of this particular pie.
2. A return to manufacturing?
For those who believe that manufacturing is a thing of the past for Rugby, there are even more who think it can also be a part of its future.
That’s because the Warwickshire Manufacturing Growth Programme has recently been unveiled by several councils in the region including Rugby, Warwick and Stratford-upon-
Avon.
The aim is to remove some of the barriers faced by SMEs when looking to grow and it forms a central strand of the £4.6 million Business Growth Warwickshire Programme. Among the
specific aims of the programme are to increase productivity, encourage sustainable practices, increase digitalisation and create employment opportunities.
It’s intended that over 250 SMEs will benefit from its help. This will take the form of individual assistance and support from a dedicated Manufacturing Growth manager. There will also be
help from Oxford Innovation Advice’s business diagnostic tool called GROWTHmapper to set out a tailor-made plan with specific goals to be attained over the short, medium and long
term.
There will also be an additional £500 in grant funding for selected SMEs to spend on business improvement initiatives, again accompanied by advice from experts in the specific industry.
3. Building a sustainable future
A further area in which Rugby offers great potential is as a hub for industries based around sustainability. This can build upon what is already a very strong presence in the region with
companies like Baxi and GE Power Conversion working in the field of clean air technologies.
The National Low Carbon Centre at Stoneleigh Park is also already a leader in the low-carbon and clean tech sector.
The region’s history in the automotive sector means it has already established many research and development sites exploring the vehicles of the future. Already there has been
a great deal of investment in the area, including the London Taxi Company’s £300 million facility to build zero-emission vehicles and BMW’s £750 investment in its powertrain factory
at Hams Hall which produces the hybrid engine for its i8 model.
So, the future is looking good for the region with many other businesses set to follow and take advantage of the momentum that has been building. And, with a diverse range of
sectors interested, this should also create a certain level of future-proofing, essential in today’s ever-changing business environment.
