3. SW Herts today: (c) Working

Strong and growing economy

• Economy has recovered well from the last recession, growing by around 4% a year since 2011.
• Historically driven by the professional and business services sectors, with other strong sectors emerging such as film/TV, life sciences, sustainable construction and advanced engineering and manufacturing.
• Home to a number of international business HQs, in area such as Clarendon Road in Watford and the Maylands Business Park in Hemel Hempstead.

Economic Pressures

• Some sectors have declined in recent years, particularly public administration and manufacturing.
• Land availability for both new and existing businesses is very challenging due to planning constraints and competition with housing.
• Some companies have moved out of the area in the search for cheaper and larger premises.
• Growth in the construction, education and healthcare sectors is particularly dependent on the employment of non-UK nationals.
• High house prices are one of the reasons key sectors struggle to recruit.

Research and innovation

• A strong research and innovation sector with the likes of Rothamsted Research and the Building Research Establishment - global leaders in the fields of agri-tech and building research.
• The Herts Innovation Quarter Enterprise Zone will encourage growth in these and other related sectors.

Creative industries

• A strong and growing location for creative industries including publishing, film and TV, arts and entertainment.
• Home to Elstree Studios, BBC Elstree, Warner Bros. Studios at Leavesden and the newly developed Sky Studios, Borehamwood.

Low unemployment

• The proportion of the area’s working age population who have either a part time or full-time job or seeking a job for the first time is significantly higher than the national average.
• Unemployment is lower than the national and county average, with all districts have seen a significant fall in those without jobs since 2010.

A highly skilled workforce

• Home to a highly skilled workforce, but there are not always suitable jobs to allow residents to work locally.
• Local skills and education opportunities are supported by the nationally respected University of Hertfordshire.
• Further education opportunities are offered by both West Herts College and Oaklands College.

Agile working

• The Covid pandemic has increased the importance of ensuring technology and data networks are sufficient to support changing ways of working, especially in some rural areas where access to broadband needs upgrading.

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