Structurally the economy of the area is diverse and well balanced without over dependence on one sector or firm.
There is a clear strength in manufacturing and a tradition in aerospace and advanced engineering, which continues to this day with a cluster of precision engineering, medical device, automotive and aerospace businesses.
Other significant sectors are distribution, finance, IT and other business services and public administration.
The dynamic economy of the area is reflected in the presence of key growth sectors. The area has witnessed one of the highest growth rates in the creative industries sector, outperforming county, regional and national level increases.
The knowledge economy is also particularly strong and has seen higher growth than at county, regional and national levels, with an impressive cluster of knowledge-based businesses now complementing existing sectors.
Innovative activity is abundant in the area, derived through the growth of the knowledge economy and this reflects the area’s high-tech engineering and manufacturing base.