Chesterfield investment opportunities

Figures revealed at annual Investment Summit show new businesses are booming in Chesterfield

Official figures presented today at the Chesterfield Investment Summit show record levels of startups setting up in the Chesterfield area, alongside substantial growth in the town’s visitor economy and construction sectors. Survival rates for companies in Chesterfield far exceed the national average.

New business activity in Chesterfield, Derbyshire’s largest town, reached record levels in 2022 and is expected to grow again this year, according to figures shared today at the Chesterfield Investment Summit. Analysis of Companies House data, the official register of UK companies, shows that 1,021 startups with Chesterfield addresses were registered in 2022, 4% more than in 2021, and indicates the area is on track to create over 1,100 more businesses in 2023.

Analysis from Destination Chesterfield – the organisation responsible for promoting investment in the town – shows strong levels of new business activity in several sectors prioritised in Chesterfield Borough Council’s growth strategy, as well as encouraging signs for the town’s independent retail sector:

  • 92 new hospitality companies were launched in Chesterfield during 2022, a 10% increase on 2021 (84) and more than three times the number (29) created in 2012. Hospitality is a crucial component of Chesterfield’s growing visitor economy, which attracted 3.7 million people in 2022 (20% more than 2021), according to Chesterfield Borough Council. The visitor economy supports over 2,000 full-time jobs in Chesterfield and was worth £207 million last year.
  • 106 new professional services companies were created in Chesterfield during 2022, an increase of 29% on 2021 (82). They include 27 management consulting companies, 22 engineering advisory firms and 12 advertising and digital media specialists. Chesterfield is actively encouraging professional services firms to locate to the town to help achieve a 15% increase in higher-skill, higher-wage knowledge-based occupations for residents by 2030.
  • 99 construction startups were established in Chesterfield in 2022, 10% more than 2021 (90) and 55% higher than 2012 (64). Data from Chesterfield Borough Council shows the number of new homes built in Chesterfield has more than doubled over the last decade to reach 373 completions in the year to April 2023. Chesterfield has exceeded its new build target in each of the last four years and the council has earmarked several prime locations for new residential development as part of plans to build more than 4,000 new homes by 2035.
  • 124 retail and wholesale startups began trading in Chesterfield in 2022. Although this was down 5% on 2021 figures, it represents a 49% improvement over the last decade and is expected to grow to more than 150 in 2023. The number was driven, in part, by a threefold increase in online retail startups over the last decade. Entrepreneurs in Chesterfield launched 23 e-commerce companies in 2022 and are on track to create over 40 more during 2023.

Dr Huw Bowen, Chief Executive of Chesterfield Borough Council, said: “New business activity is booming in Chesterfield, which is seeing growth from homegrown startups and those relocating to the town from elsewhere.These outcomes are the fruits of a purposeful strategy to secure new business investment in Chesterfield and help our existing businesses to grow.”

Dr Huw Bowen - Chief Executive of Chesterfield Borough Council

“Chesterfield Borough Council is supporting, either through direct investment or public-private partnerships, a series of projects to provide high-quality commercial space for businesses. It has helped bring to market almost 300,000 square feet of modern office, industrial, manufacturing and logistics space since the start of 2022, and expects further new premises totalling more than one million square feet to become available by the middle of 2025.”

Peter Swallow, Chair of Destination Chesterfield, comments: “Chesterfield is growing thanks to its location, its supportive community, the incredible lifestyle you can enjoy here, and the investments that are being made in high-quality business space and housing. We’ve seen more interest from local and incoming entrepreneurs post-pandemic, who are creating new jobs and opportunities for the abundant talent pool Chesterfield can access, and we expect that growth to continue as the town seizes new opportunities associated with the East Midlands devolution deal over the coming years.”

peter swallow speaking at Celebrate

Official figures also show that businesses based in Chesterfield consistently enjoy significantly higher survival rates than the national average. The latest data from the Office of National Statistics show that 62% of Chesterfield companies started in 2018 were still trading after three years, compared to 54% for all of the UK. Similar figures were recorded for businesses founded in 2016 and 2017.

More than 200 delegates, including domestic and commercial property investors and business leaders from the UK, attended the Chesterfield Investment Summit today. The Summit is organised by Destination Chesterfield and sponsored by East Midlands Chamber and Turner & Townsend.

Destination Chesterfield has received £180,000 from the UK Government through the UK Shared Prosperity Fund. It follows a successful funding bid by Chesterfield Borough Council, to secure £2.69 million worth of funding for local projects.

spire drone 1

Posted in About Chesterfield, Business, Celebrate Chesterfield, Destination Chesterfield, Development, Featured, Home, Property and Construction, Uncategorised, VisitingTagged in , , , , , , , ,

£18 million funding for our region as part of devolution plans

Millions of pounds in funding, made possible because of plans for devolution in the East Midlands, has been agreed and will be spent on improving housing, transport and the skills of local people.

In total, £18 million of funding is being offered to Derbyshire, Nottinghamshire, Derby and Nottingham as part of early investment to the area during devolution negotiations and is not dependent on devolution proposals going ahead.

The latest funding amount of £9.9 million has now been approved and will help councils to carry out retrofit work on homes to make them more energy efficient.

Councils across the two counties have been working with the government on devolution plans including a package of local powers and funding worth £1.14 billion, from 2024.

Other programmes which have already been approved, and are underway or completed, include:

  • £1.2 million for new gigabit broadband for Derbyshire, Nottinghamshire, Derby and Nottingham. It will mean that an extra 118 rural public sector schools and libraries will be connected to gigabit broadband. The scheme is expected to go live by March 2024.
  • £750,000 for a new cycling and walking route in Derbyshire – a 1¼ mile link connecting Markham Vale to the existing cycle route in Staveley.
  • £1.5 million for a new growth through green skills. The investment will enable the creation of a new £5.4 million flagship skills centre and low carbon demonstrator in the region, as well as 2 electric minibuses for getting students to and from the site, to support the growth of a future low carbon economy as we work towards net zero.

Funding hasn’t been the only benefit drawn in through devolution; with the East Midlands securing one of just 12 new Investment Zones being created across the UK.

The low tax Investment Zones are being introduced to boost growth in areas outside London and will be clustered around universities and research centres. Each zone is to get £80 million of support over 5 years, with tax incentives to attract businesses.

Devolution would mean a new guaranteed funding stream for our region of £38 million a year over a 30-year period. Covering Derbyshire, Nottinghamshire, Derby and Nottingham, the devolved area is home to around 2.2 million people, making it one of the biggest in the country.

The devolution deal includes an extra £16 million for new homes on brownfield land and control over a range of budgets like the adult education budget, which could be better tailored to the needs of people in local communities.

A regional mayor would lead a new combined authority, which would include representatives from existing local councils, with decision-making powers and resources moving from London to the East Midlands. Local businesses would also have a voice, as well as other organisations.

Devolution would not mean scrapping or merging local councils, which would all continue to exist as they do now and would still be responsible for most public services in the area. The mayor and combined authority would instead focus on wider issues like transport, regeneration, and employment across both cities and counties.

Barry Lewis, Leader of Derbyshire County Council, said: “We’ve been pursuing a devolution deal to bring more investment to the region and this early funding pot to improve housing, transport and skills is most welcome.

“If a devolution deal for the East Midlands goes ahead, it will bring a package of local powers and much-needed funding worth £1.14 billion that will help to improve the lives of people in Derbyshire and throughout the region.

“Devolution would bring massive benefits and opportunity to the East Midlands for things like improving transport infrastructure, building more homes and creating more jobs and better training opportunities.”

Now the 4 councils have formally backed the plans, and agreed on a final version of the proposal, it means that new local powers and funding to improve the environment, skills training, transport, housing, and the economy could be in place as soon as next year.

For that to happen, new legislation is needed, so that a new form of Combined Authority can be created. With new legislation in place, proposals for devolution could be sent to the government for approval and Royal Assent, meaning that devolution in the East Midlands could be a reality from spring 2024, with the first ever election for a regional mayor, covering Derbyshire, Nottinghamshire, Derby, and Nottingham, taking place in May 2024.

To find out more about why Chesterfield is an ideal location to invest, go to: https://www.chesterfield.co.uk/business/invest-in-chesterfield/

View of the Crooked Spire from above

Image courtesy of Derbyshire Economic Partnership

Posted in About Chesterfield, Business, Celebrate Chesterfield, Development, Home, Property and Construction, UncategorisedTagged in , , , , , ,

Chair’s blog: “Chesterfield is still moving forward with confidence and optimism”

In the face of national and global economic challenges, Chesterfield is once again forging its own path.

Like so many times before, our town is rolling up its sleeves and making change happen for the better. We’ve seen many developments come to fruition over the last couple of years and as a result sites which were previously derelict are now full of life.

New offices at Chesterfield Waterside and the Northern Gateway Enterprise Centre are already attracting investment and creating jobs for people in our town. There are already 90 people working within the Waterside Offices, and the Enterprise centre is now more than 60% occupied.

News of the extension to the Markham Vale North Industrial development, located at Junction 29a just off the M1 is another boost for our area. To date, Markham Vale has created more than 2,700 jobs, with potentially 800 more on the way thanks to the additional development plots.

Whilst we are all aware that Chesterfield is on the up, we must keep shouting about this as a collective. With a view to maintaining this progress I am excited to see Destination Chesterfield taking the town’s message to the UK’s biggest trade and investment show this May, UKREiiF.

Working alongside Chesterfield Borough Council and businesses in the town’s Property and Construction Group, we will be speaking to colleagues from across the country, helping to explain the wide range of benefits Chesterfield has to offer to inward investors and occupiers.

We’ll make investors aware of our illustrious history of innovation, and our fantastic connectivity and transport links. The fact that you can be in several major cities within just a couple of hours is a huge selling point; one which many other places are quite rightly jealous of!

It’s not just messaging around our town’s range of development sites and commercial workspaces which will be on display.

We will also shout about the fantastic quality of life here in Chesterfield, including our emerging food, drink and leisure offering. There has also been significant new housing delivery in the town over the past few years, which will also appeal to potential occupiers.

The fact that we’re so close to the world-famous Peak District National Park has already attracted major investment – including the £300 million PEAK development, which continues to progress.

Attracting further investment to Chesterfield remains a priority because it benefits everyone connected to the town.

It means more money in the pockets of our residents thanks to the creation of quality jobs, and naturally this leads to more money spent in our independent businesses, helping our economy to grow further.

Whilst we are all understandably concerned by recent reports about the state of the UK’s economy, I am pleased to say that Chesterfield is still moving forward with confidence and optimism – and shows no signs of stopping.

 

Posted in About Chesterfield, Blog, Business, Celebrate Chesterfield, Destination Chesterfield, Development, Love Chesterfield, Property and Construction, UncategorisedTagged in , , , , , , ,

Panel session at major UK trade show to shine a light on the huge potential of devolution for our region

The huge potential of devolution for Chesterfield and the wider East Midlands region will be showcased at a major UK trade event this May.

D2N2 Local Enterprise Partnership (LEP) is leading a panel session at the UK’s Real Estate Investment and Infrastructure Forum (UKREiif) 2023 in Leeds, to discuss upcoming devolution in the East Midlands for businesses and investors.

The D2N2 region, covering Derby, Derbyshire, Nottingham and Nottinghamshire, has a proud industrial and manufacturing track record and is at the forefront of economic development, with the East Midlands Freeport and the East Midlands Development Company recently established.

The region is on track to become the home of the UK’s newest and largest combined authority in 2024. The D2N2 area sits in the heart of the country and is very well connected, and benefits from proximity to infrastructure assets such as East Midlands Airport, the M1 and fast rail links, and its central location means that almost 90% of the UK is accessible within a four hour drive.

The panel session will provide the opportunity for delegates to hear from speakers representing D2N2 LEP, the East Midlands Development Company and key businesses in the region, who will share their insights on the benefits and opportunities devolution will bring to the East Midlands.

Delegates will have the opportunity to get involved in the discussion about what the private sector can bring to complement and enhance the newest and largest devolution deal in England, set to leverage at least £38m per year over 30 years.

The panel session will be chaired by Nicolle Ndiweni, Inward Investment and Business Expansion Specialist, Invest in Nottingham, and the panel of speakers will include:

• Will Morlidge – Chief Executive, D2N2 Local Enterprise Partnership
• Andrew Roberts – Regional Head of Acquisitions, Yorkshire & Central, Harworth Group
• Andy Dabbs – Board Director, Whittam Cox Architects
• Sir Chris Haworth – Chairman, East Midlands Development Company
• Ellie Hinds – Business Development Manager, Scape Group
• Steve Wooler – Chief Executive, BWB

Peter Swallow, Chair of Destination Chesterfield said: “We are very excited to be collaborating with D2N2 LEP, Marketing Derby and Invest in Nottingham to showcase the exciting opportunities to invest in the region. One of the region’s many strengths is the effective collaboration between the public and private sector to drive forward sustainable economic growth. The panel session at UKREiif will showcase this work, and how you can get involved in the future.”

Will Morlidge, Chief Executive of D2N2 Local Enterprise Partnership (LEP) commented: “We are delighted to host this panel session at UKREiif. The East Midlands devolution deal is not just about driving more funding from the Government into our region: it is also a very clear signal from Government that the East Midlands is the vibrant industrial heart of the UK and is a great place to invest. Together with the rest of the panel, I am really looking forward to discussing the unique opportunities that devolution will unlock for businesses and investors in the region and beyond.”

John Forkin, managing director of Marketing Derby, added: “As well as championing Derby and Derbyshire, we also regularly collaborate with our partners on projects that benefit the wider region, such as the East Midlands devolution deal, which we are fully behind. Over the years, we have achieved some notable successes, attracting major companies, both national and international, bringing thousands of new jobs to this part of the world and we are excited about the huge potential to do so going forward.”

Lorraine Baggs, Head of Investment at Invest in Nottingham said: “The East Midlands Mayoral Combined Authority presents a fantastic opportunity for our region to combine our strengths. Nottingham’s two world-class Universities provide exceptional talent to our strong industries. We’re experiencing more development in Nottingham than ever before with countless cranes in the sky, and two transformational city centre sites in the Broad Marsh and The Island Quarter. The devolution deal will bring more investment into our growing region.”

Places for the session are open to those registered to attend UKREiif and can be booked here.

Chesterfield Crooked Spire view

Image courtesy of Derbyshire Economic Partnership

Posted in About Chesterfield, Business, Celebrate Chesterfield, Destination Chesterfield, Development, Featured, Home, Property and Construction, UncategorisedTagged in , , , , , , , , , , ,

Business park in Chesterfield with ‘great location’ goes up for auction

An investment opportunity has been made available in Chesterfield, with a business park which is already home to a number of tenants set to go under the hammer in early April.

The First Stage Business Park in Chesterfield, which is home to multiple light industrial businesses, has been put up for auction with a guide price of £1.1m. The business park will be included in the next online property auction held by Sheffield firm Mark Jenkinson, now part of Eddisons, on 4 April.

Comprising 17 light industrial units, the multi-let 3.3 acre site produces an annual rental income of over £109,000 and is home to a number of local companies. Metal finisher First Stage Machining; garage and repair shop Autofit; and MR Emergency Medical Services, which provides an independent ambulance service, medical cover for events and first aid training courses, are among current tenants.

Adrian Little, director at Mark Jenkinson, said: “This is a well known business park that’s in a great location on the outskirts of Chesterfield and close to junctions 29a and 30 of the M1. Occupancy levels remain consistently high and all 17 units are currently fully occupied, making this a fantastic investment opportunity.”

Bidding on the First Stage Business Park, and the other lots in Mark Jenkinson’s online property auction, opens at 9am on 4 April and closes from 12pm the same day. To view the full catalogue, go to www.markjenkinson.co.uk  

Mark Jenkinson is now part of property group Eddisons after it was acquired by the Leeds-based firm, which has 25 offices across the UK, earlier this month.

Find out more about the range of benefits associated with investing in Chesterfield, including the town’s ideal location, collaborative business community and quality workforce: https://www.chesterfield.co.uk/business/invest-in-chesterfield/

Mark Jenkinson & Son supports the marketing and economic growth of the town through Chesterfield Champions, a network of over 200 organisations across Chesterfield and North Derbyshire.

First stage business park

Posted in About Chesterfield, Business, Development, Home, Property and Construction, UncategorisedTagged in , , , , , ,

New films explain why firms choose to invest in Derbyshire

A series of short films have been produced featuring businesses from across Derbyshire explaining why they have decided to invest in the county.

Derbyshire County Council and Derbyshire Economic Partnership commissioned the clips as part of the Invest in Derbyshire service, delivered in partnership with Marketing Derby.

The service promotes the county as a place to invest and provides support and advice to businesses looking to expand or locate in Derbyshire.

The support provided is bespoke, independent, free-of-charge and confidential.

In promoting Derbyshire, Marketing Derby is supported by local businesses whose own investment and growth stories make engaging case studies for others taking similar journeys and are exemplars as to why the county is a business location of choice.

The filmed ‘talking heads’ include a range of businesses across the county and from various sectors, including several firms in Chesterfield.

Among the businesses featured are Chesterfield Champions MTM Products, Roaring Mouse, Global Brands and Peak Village, which is owned by the Devonshire Group.

The films highlight why the businesses have decided to make Derbyshire their base.

They explain how they benefit from the central location and great connectivity, why the county’s quality of life offer is so important for staff wellbeing and recruitment plans, and how the heritage of innovation still lives on today.

Councillor Tony King, the county council’s cabinet member for clean growth and regeneration, said: “Derbyshire has so much to offer investors. Its unique position at the heart of the UK, together with excellent transport links and quality of life, make our county an attractive place for businesses to locate invest, live, work and stay.

“It’s great that existing Derbyshire businesses are able to share their story, which we hope will give more businesses the confidence to base themselves here.”

Speaking about the new ‘talking heads’ films, Adam Rodgers, inward investment executive at Marketing Derby, said: “It’s fantastic to have the support of Derbyshire businesses in promoting the county, sharing their investment stories and pride in being based here.

“Other businesses who are considering locating and investing in Derbyshire can start to get a flavour of the diverse mix of businesses who thrive here and the people behind them, which helps bring the ‘Invest in Derbyshire’ narrative to life!”

The films are now appearing on Invest in Derbyshire’s social media channels, including Twitter and LinkedIn.

To see the new films, follow Invest in Derbyshire on https://twitter.com/InvestinDerbys or https://www.linkedin.com/company/invest-in-derbyshire/.

MTM Products, Roaring Mouse, Global Brands and The Devonshire Group support the marketing and economic growth of the town through Chesterfield Champions, a network of over 200 organisations across Chesterfield and North Derbyshire.

MTM Mark Niblett

Posted in About Chesterfield, Business, Celebrate Chesterfield, Destination Chesterfield, Featured, Home, Property and Construction, UncategorisedTagged in , , , , , ,

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