PURCHASE YOUR COPY NOW - Review of UK Motorsport Valley Cluster 2013
Review of UK Motorsport Valley Cluster 2013
A review of the internationally-recognised UK Motorsport Valley business cluster, was launched by Rt. Hon Michael Fallon Minister of State for Business, who reported a strong ‘bounce back’ since the recessionary period of 2008 and 2009, with continuous growth every year since, to reach the highest sales level in its illustrious history.
According to the review, which was commissioned by the Motorsport Industry Association (MIA) and supported by the industry, The Department for Business, Innovation & Skills (BIS) and UK Trade and Investment (UKTI) , this thriving sector had, by 2012, achieved annual sales of £9 billion. This significant turnover was generated by some 4,300 companies, employing 41,000 people supplying the world with world-class high-performance engineering products and motorsport services.
A high level of investment in R&D, with many firms spending more than 25% of their annual turnover and benefiting from R&D tax credits, was said to be vital to this success, as were the high calibre of employees, and exports, with nearly 90% of the companies selling overseas.
To download the highlights of the review, please click here. MIA Members, please log in to the members area to download the report complementary from the document archive.
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