It is estimated that Cheltenham’s economy is currently worth in the region of £2.5-£3 billion, yet is predicted to grow significantly over the next ten years to upwards of £4.5 billion.
It supports over 70,000 jobs in a range of industries including cyber-tech, aerospace, engineering, professional services, retail & leisure, health, education and public administration.
Cheltenham also has one of the strongest housing markets in the region. Demand for housing in the area is high and the limited supply of housing land has only added to the pent-up demand. Cheltenham has seen some of the highest house price growth in the area over recent years and there is strong demand across all property types and tenures.
The employment market in Cheltenham is also strong with a diverse range of businesses present including a number of high profile HQ’s, including GCHQ, Superdry and Spirax-Sarco. It has an exceptionally strong representation from digital and tech based firms including Google, Microsoft and Apple all present in the town; boasting densities of 11 times the national average in this sector.
Vacancy rates for both office and industrial space remain very low compared to the rest of the region, which has supported good rental growth in recent years.
"Cheltenham with GCHQ is the home of cyber security - the global centre for the industry. "
Matt Warman MP
Cheltenham’s key growth sector is cyber, and our relationship with GCHQ puts us in a unique position to drive our ambition to become the UK’s cyber capital.
We already have a strong and well-established cyber-tech ecosystem in the region, with Cheltenham having the UK’s largest cyber cluster outside London – 11 times the national average.
Plans for a new campus and cyber-tech community, Cyber Central are now accelerating under the leadership of Cheltenham Borough Council following the £37.5m purchase of the land on which the site will be developed. This is widely regarded as a once-in-a-lifetime opportunity for Cheltenham, creating a world-leading cyber-tech hub with the associated economic and social benefits this will bring for the town, the surrounding region and UK plc.
Advanced engineering and manufacturing
Another of Cheltenham’s sector strengths is in Advanced Engineering & Manufacturing. Home to some of the UK’s leading companies, including GE Aviation and Spirax Sarco whilst a significant cluster of other world-leading engineering and manufacturing businesses can be found across Gloucestershire as a whole, including Moog, Safran and Renishaw.
Supply chains and subsidiary SMEs in the sector ensure that Cheltenham and the wider county provide an unparalleled opportunity to do business here.
Gloucestershire is home to a number of world-class businesses, and with a strong history of global innovation, the county continues to stand at the forefront of technology while maintaining a green, beautiful environment.
The county excels in four strategic sectors: agri-tech, cyber-tech, advanced manufacturing and renewable energy and is the base of operations for world-class businesses including GCHQ, Superdry, Safran, Unilever, GE Aviation, Mira Showers, UCAS, Renishaw, Moog and many more.
Gloucestershire provides an environment in which businesses can truly flourish, whilst benefiting from the lowest corporation tax of all G20 countries and attractive tax relief on research and development costs.