Space Park Leicester generates £89m economic boost and supports over 600 jobs

Space Park Leicester has generated an estimated £89m for the economy in its first year of operation, according to figures released to mark its first anniversary.

The calculation represents the impact of 607 jobs whose employment is supported by the pioneering space hub that builds on the University of Leicester long-established expertise in space research, innovation and education.

It comes as Space Park Leicester joins the new Space City cluster in Leicester that will create “one of the largest and most connected” Enterprise Zones for space-related activities in the UK.

Space Park Leicester, officially opened by British astronaut Tim Peake in March 2022, is a unique single-site science and innovation park dedicated to, and specifically designed for, space-related companies and researchers, covering enterprise, innovation and teaching.

A strategically placed space sector cluster with a national and international focus, it is forecast to contribute £750m a year to the UK space sector over the next decade.

A new rapid assessment of the space sector in Leicestershire by space economics consultancy know.space estimates the Gross Value Added (GVA) of Space Park Leicester, representing the labour productivity of its employees, as £89.1m. Since opening, it has landed five major Foreign Direct Investments, and created 125 new jobs.

Over 20 organisations now reside at Space Park Leicester, including Rolls Royce, Airbus, Northrop Grumman, Satellite Applications Catapult, CGI, EarthSense and Maxar. The NERC funded National Centre for Earth Observation also has its headquarters at Space Park Leicester.

Professor Richard Ambrosi, executive director of Space Park Leicester, commented: “We are proud of the success achieved in this first year and since the opening of Space Park Leicester and look to the future. It is a testament to the talented team of people working tirelessly across science, engineering, operations and commercial functions.

“We continue to build on our heritage in the space sciences and look forward to increasing our collaboration with industry, national and international partners. Our ambition for the future is captured by our growing science portfolio and plans to physically expand into a commercially focused additional phase of Space Park Leicester called Digital Space Futures.”

Space Park Leicester will be a “cornerstone” of Leicester’s Space City cluster, dedicated to space research, production, manufacture and development, and will make Leicester a key part of the UK’s Space Spine. The cluster will also be home to non-space related knowledge economy businesses, those working towards decarbonisation, startups and more.

By Matthew Neville – Senior Correspondent, Bdaily

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