East’s logistics sector ‘set to make big gains in 2021’, says developer
- Credit: Archant
Parts of the East Anglian economy will come roaring out of the blocks in 2021 — in spite of a huge contraction in the UK economy this year, a regional developer predicts.
Jaynic owner Nic Rumsey is behind two big-scale business park projects along the A14 — Suffolk Park in Bury St Edmunds and yet-to-be-built Gateway 14 at Stowmarket — as well as the EpiCentre innovation hub at Haverhill.
In his Spending Review, chancellor Rishi Sunak revealed that the economy shrank this year by an eye-watering 11.3% — the second sharpest contraction in Europe — as the effects of the pandemic hit the UK’s services-heavy structure hard.
MORE — Spending Review: East businesses braced as pandemic savages UK economyBut with online retail one of the big winners of lockdown — accelerating a trend already emerging — Mr Rumsey believes there are plenty of opportunities to grow the region’s economy next year.
Mr Rumsey — whose business supports the logistics and haulage sector — says the Suffolk Park project is creating 700 jobs and he expects that the 156-acre Gateway 14 scheme will stimulate a similar number — and more.
He welcomed the chancellor’s announcement that he would be spending £100bn to boost infrastructure projects and the economy.
You may also want to watch:
“If he’s going to spend money on infrastructure I hope we might benefit from that,” he said.
There were already occupiers talking to the company “quite seriously” about coming to Gateway 14, he said.
- 1 Infection rates drop in Suffolk as UK records deadliest day of pandemic
- 2 Hadleigh rated as one of the worst areas for coronavirus deaths in England
- 3 Controversial plans that would double village in size set for approval
- 4 Temporary mortuary to open as virus deaths continue to increase
- 5 Man drove 128 miles for fish and chips in lockdown
- 6 Electricity restored to almost 500 homes following power cut
- 7 Infection rates continue to tumble across Suffolk and Essex
- 8 Orwell Bridge to close as Met Office issues warning of up to 70mph winds
- 9 'That league will be like a walk in the park for him' - Fans react to Town signing midfielder Harrop
- 10 New campaign aims to encourage residents to Discover Suffolk by making country walks fun
“I think that’s because of the market we are in and also because I think East Anglia is quite a vibrant area,” he said.
Even with the infrastructure in place, he sees plenty of scope for growth, he added.
“I genuinely think as an area we are actually going to be quite well placed with what’s going on even if the government doesn’t invest in the area,” he added.
“I’m optimistic for the sector I’m working in which is warehousing and logistics in East Anglia which is definitely a growing sector. I’m responding to the demand.”
He believes potentially there could be thousands of jobs created in the sector eventually. “I’m quite positive — I’m not a great believer in government intervention anyway.
“At the moment we are in a good place and we can almost feel embarrassed about it.”