Did you know Telford’s economy has been growing strongly since the early 1980’s and is recognised as one of the most dynamic towns in the UK due to the town’s young population, economic growth, inward investment and ability to create employment.
The KPMG “Competitive Alternatives” study 2004 looked at the set-up and operating costs in 121 towns and cities in eleven countries. Within Europe Telford was ranked in the top ten most competitive locations.
Telford’s economy has grown strongly and diversified with some 4,000 firms, the majority of which are small to medium-sized enterprises. Telford also has an economic powerhouse of 100 large-scale firms, many from overseas, involved in manufacturing, distribution, IT and call centres along with government and public sector organisations.
With strengths in precision engineering, Telford is a major supplier of vehicle components, office equipment, computers, electronic and electrical goods. It is recognised as a centre of excellence for plastics and polymers.
Large service sector employers include Cap Gemini, Lloyds TSB, EDS, Natwest and the Windsor Life Assurance Group. Public sector organisations and educational establishments are also well represented. These include the Inland Revenue, the Land Registry, Ministry of Defence, Telford University Campus, Telford College of Arts and Technology, and Harper Adams University College.
The professional services sector makes an important contribution to the Telford economy – companies help to create and retain wealth through their knowledge and expertise. Many of Telford’s leading companies in this fast growing sector have joined together to form the Telford Business Partnership as providers that are well placed to offer high quality services and expertise.
Telford’s central geographical location, excellent communication links and light engineering skills make it a natural location for component manufacturers. Principal engineering processes available in Telford include plastic moulding, metal processing, turning and finishing. Growth in Research and Development continues as companies seek to add value to local production.
The Advanced Engineering Cluster Centre provides access to a package of support and collaborative opportunities for these businesses.
Telford boasts one of the UK’s highest concentrations of Japanese manufacturing companies, with 12 of the 14 companies involved in producing goods. In recent years Maxell, Ricoh, Epson, Makita and Denso have established campus-style developments for European manufacturing headquarters; some with associated research and development facilities.