Inspiring Eden Enterprise Hub
Design and development of a new £8 million facility for rural enterprise creation, development, and growth in Eden is a key component of the district’s ‘Inspiring Eden’ initiative to drive economic
recovery, prosperity and levelling up.
It will provide 3,390 sqm of new high quality managed business space in Eden and a focus for business support services outreach, supporting an estimated 740 businesses both within the Hub and in the wider district, creating an estimated 655 jobs and £26.2m in additional economic value over a 10-year period in existing and diversified growth sectors.
Supporting Eden
The Hub will provide a base to support the development and delivery of satellite enterprise facilities across all our communities with a particular focus on Appleby, Kirkby Stephen, and Alston. This will ensure enterprise and entrepreneurship is placed at the heart of local economies and community life and, as a result, be an exemplar of rural working and living in the 21st Century.
Supporting Penrith
The Hub is already helping with the development and delivery of other key initiatives, including its sister project, the Inspiring Eden (town) Hub (at the heart of
Penrith town centre). This will provide the base and shop front for the Inspiring Eden Project team and a platform from which to drive key projects such as improvements to the Two Lions building, several public realm schemes and addressing the key issue of empty shops. It is from this Town Centre hub that the project team will focus on the development and delivery of other key projects, such as the Penrith Town Hall Arts and Culture Hub, the Penrith Station Transport Interchange, the Castle Park Rejuvenation Scheme, and the National Park Discovery Centre.
Supporting National Priorities
The Hub will play a strategic role, while working with local universities, in shaping the delivery of the M6 Cyber and Digital Corridor, which will support national ambitions around these sectors and the wider knowledge economy, land-based sector and creative industries all of which will help improve wages and prosperity across the area.
The Challenge in Eden
Low Productivity – Gross Value Added per filled job (£47,100) is marginally higher than Cumbria but only 83.1% of the UK, and very low for tourism and agriculture sectors (respectively £24,300 and £23,900).
Declining working-age population – by 5.2% in the past 10 years (compared with a UK increase of 2.9%) and a projected 9.1% fall between 2022-42 (greater than -8.6% for Cumbria and a continued contrast with the UK of +1.4%).
A significantly ageing population – a projected -10.7% fall in those aged 0-15 for 2022-42 (compared with -8.6% in Cumbria and -3.5% in the UK) but a 32.6% increase in those aged 65+ (23.6% in Cumbria). The significant expected fall in young adults aged 18-24 (-4.9%) for reasons including a lack of job opportunities and in particular house prices.
A thinner pool of higher-level skills and an excess of low- skilled workers – in 2021, 33.8% of Eden working-age residents were educated to degree level compared with 43.1% in England, while 7.8% had no qualifications compared with 6.4% in both Cumbria and England.
A business start-up rate across Cumbria less than two-thirds of the England average – business births in Eden in 2020 were 6% of stock compared with 13% in England, although its 5-year survival rate (54%) is reflected in lower business deaths (5%) compared to 12% in England.
COVID19 impacts – 23% of workers were furloughed in the peak of Jan/Feb 2021 (compared with 19% in Cumbria and 16% in England during the same period), and a dramatic increase in high-risk credit score businesses in 2021 (25.5% annual change in Eden compared with 15.2% in Cumbria and 8.1% in
the UK).
Sectoral dependence and few fast-growing firms – heavy dependence on agriculture and tourism with a greater number of slower-growing businesses, and a limited knowledge economy with relatively small professional (1,500 workers) and other services. It has a significant proportion of workers in elementary occupations (13.6% compared to 10.7% in Cumbria and 9.4% in the UK).
Deprivation – while less deprived, nevertheless it suffers from pockets of deprivation in particular areas. South Penrith (Lower Super ‘Output Area’ within the most deprived 30% in England) and has the highest proportion (52.8%) of Lower Super Output Area in the most deprived 10% nationally for ‘Geographical Barriers’ and the ‘Indoors’ Sub-domain (63.9%).
The Opportunity
The Enterprise Hub will be a modern high quality business space (up to 90 business units and collaboration spaces) that will:
- Provide modern, flexible, and affordable premises for small to medium sized enterprises (SMEs) supporting existing key sectors and new growth sectors (including knowledge-based industries) with ‘easy in, easy out’ terms.
- Promote business growth by providing a base for training, support, and advice for businesses across the area.
- Boost entrepreneurial activity within the rural economy and among key under-represented groups (including women) and increase business
formation rates.
- Improve the competitiveness of local SMEs by increasing their capacity and capability, value added, and employment creation.
- Create a focus for links with the Further & Higher Education sector and other organisations and foster an ecosystem of business collaboration and knowledge transfer.
- Provide a ‘landing pad’ for inward investment.
- Ensure a viable and sustainable long-term operating model.
- Provide the basis for capitalising on Eden’s well developed social enterprise activity and status of being home to Alston - the world’s first Social Enterprise Town.
Collaboration is Key
Delivered by Eden District Council in conjunction with the site owner. The project involves several local and strategic stakeholders who have provided support; key individuals and organisations have provided testimonials including Dr Neil Hudson – MP.
Inspiring Eden Enterprise Hub prospectus
More information
For more information on Inspiring Eden email inspiringeden@eden.gov.uk