Mid Sussex: A Growth Investment Region and a Perfect Match for People, Place, and Potential

The recently released UK and Scotland Attractiveness Survey underlines Mid Sussex’s sustainable economic growth potential.

Mid Sussex already one of the most economically successful areas in the UK, boasting an impressive economic activity rate of 83%, (higher than the national average which is 78% and higher than the South East region which is 81%) has many features which match the survey’s key attributes for attracting foreign investment.

The report underscores the UK’s consistent positive performance in the European health sector Foreign Direct Investment (FDI), ranking first in pharmaceutical projects with a 19% European market share, and second in medical devices with an 18% market share. The UK’s strength in life sciences has been particularly evident during the COVID-19 pandemic, and given the context of an ageing population, attracting FDI in this sector remains a top priority.

Mid Sussex excels in Scientific Research and Development as well as Life Sciences, with 72 scientific research and development businesses contributing output that exceeds the national level by 20%. It is home to Universal Quantum, the British startup which recently won a 67m euro contract to build a fully scalable trapped-ion quantum computer for the German Aerospace Center and the region recently allocated a site for Project Newton, a 49-hectare ‘next generation’ Science and Technology Park.

According to the UK and Scotland Attractiveness Survey, 35.5% of executives believe that financial services will be a crucial driver of UK growth in the coming years, narrowly surpassing software and IT services at 34.9%. These findings align with the UK’s significant share of European projects in these sectors, accounting for 26% of finance projects and 19.8% of digital projects in 2022.

Mid Sussex businesses are already ahead of the curve in terms of having an active financial services sector. With 64 dedicated Financial Services businesses and a further 26 manufacturers of computer and electronic products, it showcases a productivity level 20% higher than the national average. The existing clusters of financial services, business support activities, computer programming, and consultancies create an opportune environment for technology firms and investors interested in areas such as payments, crowdfunding, wealth management, blockchain, and artificial intelligence, making Fintech a promising sector in Mid Sussex.

Regarded as the finance and insurance centre for West Sussex, Mid Sussex contributes significantly to the regional economy, boasting a Gross Value Added (GVA) of £414 million, inclusive of insurance, reinsurance, pension funding activities, and financial services support.

Mid Sussex is an entrepreneurial region, standing out as an area with a higher level of self-employment (12.5%), much higher compared to the national average (9%).

It has witnessed an impressive rate of new micro business start-ups, accounting for 90% of new businesses; with many of these companies reaping the rewards of a county-wide small business grant scheme. The grant initiative, which awarded £71,000 to Mid Sussex District Council (MSDC) last year, which supported micro businesses across the district to grow. There are 25 high-growth enterprises in Mid Sussex, the most in the county in 2021.

The region also showcases greater resilience in sustaining operations and trading, surpassing the national average over a three-year period with a rate of 63% (compared to the UK average of 57.5%).

Another unique growth area in Mid Sussex is Horticulture and Viticulture. The region’s breathtaking natural landscapes, featuring enchanting woodlands, scenic rivers, sun-soaked slopes and chalky soil have facilitated the rapid growth of this sector, with a 24% increase in business growth and a 6% rise in employment. In a determined effort to further secure Sussex’s position as the UK’s premier wine tourism destination, ‘Sussex Wine Tourism: A Plan for Growth’ was unveiled in June this year. This visionary plan sets an ambitious goal of elevating Sussex’s wine tourism sector from its current value of £25 million to an impressive £283 million by 2040. Alongside this remarkable economic growth, the initiative also aims to generate over 3500 new jobs for the region.

With the region’s educational landscape underpinning further growth, Mid Sussex’s future is looking bright. In 2021, the region boasted the highest percentage of 16-64-year-olds with Level 4+ qualifications (56.5%) in the county, exceeding both the South East (45%) and national (44%) averages. Additionally, it led in Level 3+ qualifications, with 71.5%, surpassing the South East (63.8%) and GB (61.5%) averages.

With its thriving economy, vibrant community, ambitious education and diverse growth sectors, Mid Sussex stands as a compelling investment destination that perfectly aligns with the aspirations and potential of investors, entrepreneurs, and individuals seeking a prosperous and fulfilling future.

The local authority recently combined its sustainability and economic growth strategies in an innovative move that aims to combine quality of life with knowledge-intensive economic growth. Find out more here.

Mid Sussex District Council’s ‘trail-blazing’ Sustainable Economy Strategy underpins the council’s business, growth, planning, community and net zero initiatives, ensuring that long-term outcomes will benefit the planet and generate homes, jobs and a good quality of life for its residents.

You can find out more about Mid Sussex’s investment potential at www.opportunitymidsussex.co.uk and in its prospectus here: https://www.opportunitymidsussex.co.uk/images/Mid-Sussex-Investment-Prospectus.pdf

*All facts and figures referenced in this document have been sourced from the Opportunity Mid Sussex Investment Prospectus 2022 and Nomis – official census and labour market statistics from the Office for National Statistics – and are considered accurate at the time of going to press.