An economic report by EMSI in 2018 concluded the growth industries in Huntingdonshire would be in digital and precision engineering. Many high-tech and general manufacturers are in Huntingdonshire based on data from the Centre for Research at the Judge Business School. Recent work by the Centre for Research has provided further insight about how the Huntingdonshire economy interacts with the Cambridge sub-economy and specifically the North West Corridor. Growth from the knowledge intensive sectors is coming but has not yet reached Huntingdonshire to a significant extent. However, there is more spend on research and development and upcoming developments such at the OxCam Arc may influence the movement of certain businesses.
The key sectors in Huntingdonshire are as follows:
This is a high priority sector for Huntingdonshire comprising 150 businesses, employing nearly 3,000 people with £1Bn turnover. Work is underway with the engineering and university sectors Including Aston University’s UK resilience supply chain programme and MAKE UK. Advanced Manufacturing is referenced in the Local Industrial Strategy, (EMSI as Precision technology) and we know we have a natural agglomeration as demonstrated below. In the most recent data 2018-19 provided by the Judge Business School this is what we discovered:
Mid & Low-tech Manufacturing
Many of our manufacturing businesses sit in the general and mid-tech range and outnumber the advanced manufacturers 4:1. These businesses help and access to support networks including expanding digital systems.
Many themes link into the digital sector with national growth in this sector nearly six times larger than growth across the rest of the economy. Huntingdonshire has a mix of tech, gaming companies and a strong presence of IT and Telecoms businesses within its digital sector which is worth between £500-600 Million per annum.
Seven of the top 25 employers in Huntingdonshire are embedded within Agri and Food production employing an estimated 9,000 plus workers in our district. Our transport infrastructure is particularly attractive to large scale food producers who look to move high quality, fresh produce around the UK.
Construction & Utilities
The UK Construction industry and local agglomeration of businesses is vital to the performance of the national and local economy. Without a healthy and vibrant construction industry we will not achieve our housing targets or develop commercial properties to meet the future needs of residents and businesses. Along with construction, utilities is another large sector for Huntingdonshire with Anglian Water alone turning approximately £1.35bn which equates to approximately 13.5% of the Huntingdonshire economy. They employ approximately 4,700 employees which equates to over 5% of the Huntingdonshire workforce.