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East of England

The East of England may lack the clout offered by a major conurbation, but it is the diversity of its towns and cities which reveal its true strengths. The high-tech institutions and innovative start-ups of Cambridge and Silicon Fen are world renowned. Less well known, however, is neighbouring Peterborough’s reputation as a leading centre for environmental services and science and Ipswich’s telecommunications hub Adastral Park which offers high-quality offices to rent in the East of England.

Nationally, high streets may have suffered a decline in the recession, but in Norwich the region boasts one of the country’s top ten shopping destinations, judged by retail spend, and a major insurance centre, taking advantage of the available commercial property to let.

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Termed the “ideas” region, the East of England draws in more investment in research and development than any other in the UK, and this is backed up by advanced engineering expertise spread across the region, including vehicle production at Lotus in Norfolk and Luton’s Vauxhall plant.

The region also plays a key role feeding the nation, with thriving agriculture and food production businesses, while its coastline, natural beauty and historic settlements have long drawn tourists in their millions.

Unemployment has risen significantly since the start of the downturn, particularly in the region’s larger towns and cities, but not to the same degree as many parts of the country, and the rate has declined in the past year.

But the East, like every UK region, now faces the prospect of substantial cuts in local government, the police and health services. The challenge ahead will be to ensure the private sector grows strongly enough to compensate for the public sector job losses.

The scale of that challenge is not to be underestimated – but it is one business and local authority leaders in the region are beginning to step up to.

The East of England Development Agency, which has played a major role in promoting economic growth, will be abolished in 2012, along with its equivalents nationally. A new era of business support will be brought in with the advent of local enterprise partnerships.