Investment will help Leicestershire economy thrive, says Midlands Engine chairman

growth
Sir John Peace

Sir John Peace, Chair of the Midlands Engine, revealed how investment opportunities will support the Leicestershire economy to thrive at the Leicester: Space for Growth event.

Speaking at the event, held at the National Space Centre, Sir John took part in a panel discussion highlighting how Leicester and Leicestershire’s future growth opportunities can only be realised through the public and private sectors working together to promote our strengths and ambitions on both a national and international stage.

Sir John was joined by Sir Peter Soulsby, City Mayor, Leicester City Council, Councillor Blake Pain, Leicestershire County Council and Professor Paul Boyle, Vice-Chancellor at the University of Leicester.

The audience heard how one of our key local developments, Space Park Leicester, will play a major role in boosting growth and how the Midlands UK and Team Leicester are promoting Leicester and Leicestershire on the world stage at MIPIM 2019, which will take place at Cannes in France on 12-15 March.

Sir John said: “The Leicester and Leicestershire region is a huge asset to the Midlands Engine. With a solid manufacturing base, and exciting new developments in fields such as life sciences and engineering, the region is an attractive prospect for businesses at home and abroad.

“There are opportunities for business in the region across all sectors, and by working together we can secure prosperity in the Midlands for years to come.”

The panel discussion was followed by presentations about the opportunities in the Space sector and at MIPIM 2019.

Professor Paul Monks from the University of Leicester said: “Growth in the space sector is predicted to grow by 80% to £400m by 2030.  The UK is planning to capture 10% of the market

“In Leicester we are developing Space Park Leicester to become a global hub and collaborative community for business, researchers and academia based on space and space enabled technologies.

“The University of Leicester is building on nearly 60 years of sending instrumentation in to space and we already host the biggest group of space scientists in Europe that will move to Space Park Leicester in the future.

“There are developing new markets for high volume, low cost satellite systems so we are also planning a factory to enhance our capacity to make, launch and collect data from these satellite systems. In addition we will build small business incubator space for 40 companies, business grow on space for 100 companies and the facilities to train future generations in the skills needed for the space sector.“

The Leicester; Space for Growth event was organised by the Leicester and Leicestershire Enterprise Partnership (LLEP), on behalf of Team Leicester, as part of Leicester Business Festival.  The LLEP has allocated £7.88m from the Local Growth Fund to support the development of Space Park Leicester.