Inclusive Economy
Building an inclusive economy that delivers inward investment to support the growth of businesses, jobs and incomes.
Building an inclusive economy
Building an inclusive economy that provides investment, jobs and opportunities for all residents and businesses is essential to raising living standards so that everyone in Luton can thrive. We know that Luton has a strong economy that has demonstrated excellent resilience in recent years. Luton is home to more than 8,800 businesses, supporting around 93,000 jobs, 69% of which are full-time positions. Prior to the Covid-19 pandemic, the town’s economy was worth around £6.3 billion per year and had a higher productivity rate than the UK as a whole (just over £36 Gross Value Added per hour).
Luton’s economy has a range of traditionally strong sectors that employ lots of people, including manufacturing, construction, transport and aviation. The town is also experiencing the growth of new and emerging sectors, including creative and digital industries, new types of advanced manufacturing and the green economy. Luton is home to many major businesses and employers, including EasyJet, TUI, WizzAir, Stellantis (Vauxhall), General Motors, Leonardo and AstraZeneca, as well as key anchor institutions such as Luton Council, Luton and Dunstable University Hospital, the University of Bedfordshire, London Luton Airport and Luton Town Football Club. Following the recovery from Covid-19 we have updated our target outcomes for this priority. With the ongoing cost of living crisis likely to impact businesses across all sectors we recognise that there will continue to be challenges to growth and investment over the next five years. For this reason it is more important than ever that we focus on attracting greater inward investment, supporting increased local spend and making long-term plans to reform our economy so that everyone can benefit from future growth.
Target outcome
- Increased inward investment supporting the growth of our key and emerging sectors including aviation, manufacturing, digital and creative industries.
- More of our residents in well-paid, high value and fair employment within Luton.
- A more highly skilled workforce that meets the needs of local employers.
- Increased local spending and social value through supply chains of large employers
- A thriving town centre with the right mix of office, retail, leisure, residential and community space.
Major developments we will see by 2028
- Key town centre developments including Power Court Stadium, The Stage and Hat Gardens will all be completed
- Luton will be a Real Living Wage Town
- Luton will have a new place brand - making our town an attractive place to live, work, study and invest
- A new skills and employment hub and a new apprenticeship brokerage scheme will be in place
- Anchor institutions and large employers will have developed a shared procurement and social value framework
Priorities
Empowered community
Supporting a strong and empowered community, built on fairness, local pride and a powerful voice for all our residents.
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Net zero town
Tackling the climate emergency and becoming a net zero town with sustainable growth and a healthier environment.
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Child friendly town
Becoming a child friendly town, where our children grow up happy, healthy and secure, with a voice that matters and the opportunities they need to thrive.
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Improving wellbeing
Improving population wellbeing and tackling health inequalities to enable everyone to have a good quality of life and reach their full potential.
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