Economy
Farming is the main rural industry. The National Transmission System passes north-south through the district just west of Bourne and the A15.
23% of occupations are in hotel and catering; 23% in public administration, education, and health; and 27% in construction and manufacturing. 18% of companies are in knowledge-based industries, fairly high for the nearby region, but lower than Peterborough or Rutland (both 20%); the UK average is 20%. Although the district has a lower job density (jobs per resident) than the UK average, the relatively low local unemployment rate means many residents work outside the district. This also means that unemployed residents would be better looking for employment outside the district.
Stamford has a presence in the publishing sector, specialising in domestic pets and aviation, helped by the proximity of EMAP in Orton, Peterborough - a local talent pool to draw on. The main employer in the town is Cummins Generator Technologies. The largest employer in Bourne is the Bourne Prepared Produce site of Bakkavör, who prepare salads, and stir fry vegetables.
The district opened its first purpose-built business innovation centre, called Eventus, on the A1175 at Market Deeping in July 2010. This is to attract high-tech companies, which the district notably lacks (as does most of the county), and was funded by the district and county councils. The district has a stable economy. It lies in the Welland Sub Regional Strategic Partnership (Welland SSP), which covers the district apart from Grantham, and has been run by Welland Enterprise (owned by Norfolk and Waveney Enterprise Services) based at Stoke Rochford. Grantham is covered by Lincolnshire Enterprise. Outside of the main towns, commercial development has been allocated for Colsterworth and the Roseland Business Park at Long Bennington on part of the former RAF Bottesford.
The district forms the northern sector of the Peterborough Sub-Region (formed also with Rutland, South Holland, East Northamptonshire, Huntingdonshire and Fenland). Bourne, Stamford and Market Deeping are in Peterborough's Travel to Work Area. North of there, Grantham is the next TTWA. The A15 corridor to Bourne is where most people in the district work in Peterborough. At the 2001 census it was found only 65% of workers work in the district, but 13% go to Peterborough, 3% to Rutland and 2% to North Kesteven. Around 21% of people working in the district live elsewhere - 3% from North Kesteven and Peterborough, and 2% from Rutland. Around 700 people in the district travel to work in London. For neighbouring Rutland, North Kesteven and Newark and Sherwood, an even lower percentage of residents work in their own district - all are dormitory areas.
For the district, the daily Peterborough Evening Telegraph is bought most in Market Deeping. The daily Lincolnshire Echo is not sold in most of the district. For the district, the Nottingham Post is sold mostly in Grantham.
Read more about this topic: South Kesteven
Famous quotes containing the word economy:
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)
“Wise men read very sharply all your private history in your look and gait and behavior. The whole economy of nature is bent on expression. The tell-tale body is all tongues. Men are like Geneva watches with crystal faces which expose the whole movement.”
—Ralph Waldo Emerson (1803–1882)
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)