Coventry’s status as a growth city was underlined after it ranked it as one of the ten fastest-growing locations in the UK. Its growth is built on a diverse economic base, with a well-established manufacturing industry complemented by expanding sectors such as business services, technology and media.
Coventry and Warwickshire have a strong tradition of automotive manufacturing. Jaguar Land Rover’s global headquarters are in Coventry, while Aston Martin is based near Warwick. The region’s continued importance as an automotive hub will be supported by the opening of the UK Battery Industrialisation Centre in 2020, which will put Coventry at the forefront of the move towards electric vehicles.
However, other sectors are making increasingly important contributions to the local economy. Healthcare & life sciences was recently ranked as the region’s fastest growing sector, with companies such as AAH Pharmaceuticals based in Coventry.
Technology is another key growth area, highlighted by the presence of the ‘Silicon Spa’ gaming cluster in nearby Leamington Spa. Knowledge-based sectors are supported by the region’s higher education institutions, with the University of Warwick Science Park and Coventry University Technology Park both providing space for growing companies.