North Northamptonshire, which comprises Wellingborough, Kettering, Corby and East Northamptonshire, is one of the fastest growing sub regions according to an RBS report published recently.
The report highlights that the East Midlands region’s growth of 1% in Q1 2014 means that the region is now producing 3.7% more output than this time last year. While the East Midlands region did well as whole and is leading the UK recovery, North Northamptonshire was in the top 10 fastest growing local areas in the country.
Part of the reason for Wellingborough and North Northamptonshire’s success is the good representation of manufacturing industries in the area. This sector has been leading the recovery along with professional services and retail. Last year the East Midland’s goods exports to Europe grew by 10% despite much of the Eurozone still being in recession. Wellingborough has excellent access to the national road network and the A14 links directly to Flexistowe port for export potential. The sub-region is also centrally located to take advantage of the major markets of London and the West Midlands.
James Wilson, President of Wellingborough Chamber, said that ‘this growth is not entirely surprising given that the County of Northamptonshire has been one of the fastest growth locations in terms of population and economic activity over the last 3 to 4 decades. Wellingborough and the rest of North Northamptonshire has a well diversified economic base not reliant on any one industry but has a strong manufacturing sector and a flexible labour force.’
‘To sustain this position and fantastic growth rate it will be important to capitalise on the planned investment and delivery of infrastructure which has been in the pipeline for several years but was interrupted by the down turn. Further improvements to the Midland Main Line, local highway connections and the release of housing and commercial land will make the area even more attractive for businesses to relocate.’
A summary of the RBS report can be accessed here