Overview
Rugby, a city with diverse economic sectors, displays a dynamic economic landscape. Its workforce of 72,104 employees is spread across various industries, with significant presence in professional, scientific, technical activities, transportation, and wholesale/retail trade. Despite no new IPOs, the city shows a healthy 3.69% employee growth, indicating a robust job market. The presence of 25 scaleups and a sizeable number of new companies in the past two years suggests a fertile environment for business growth and innovation.
Employment and Business Growth
- Total Employees: 72,104. Rugby’s labor market has shown resilience with a total of 11 sectors experiencing growth in employment. This is indicative of a diversified economic base, reducing reliance on any single industry.
- Percentage Employee Growth: 3.69%. This growth rate reflects the city’s ability to attract and retain talent, crucial for sustained economic development.
- Sectors with Employment Growth: The top sectors with employment growth include analytics, automotive, other manufacturing and engineering, business/professional services, and desktop software. This diversity in growing sectors underscores the city’s adaptability and innovation potential.
Sector Dynamics
- Top Sectors by Company Count: The leading sectors by company count are professional, scientific and technical activities (1,154 companies), transportation and storage (1,148 companies), and wholesale/retail trade (971 companies). These sectors form the backbone of Rugby’s economy, providing a wide range of employment opportunities.
- Growth Sectors: Notably, the sectors showing growth, such as analytics and automotive, are aligned with global trends towards data-driven decision making and sustainable transportation, positioning Rugby favorably for future developments.
Business Continuity
- Company Cessations: The city has seen 914 companies ceasing operations, juxtaposed against 1,084 new companies. This churn is natural in a dynamic economy, reflecting both market challenges and opportunities for new entrants.
- Scaleups and New Companies: The presence of 25 scaleups and 1,084 new companies in the last two years highlights Rugby’s supportive environment for business expansion and entrepreneurship.
Leadership and Innovation
- Gender Representation in Leadership: Founders’ gender distribution shows 34.48% female and 62.07% male, while directorship roles are held by 26.71% women and 68.17% men. These figures point towards a need for greater gender balance in leadership positions.
- Innovation Indicators: With 2,642 patent owners and 6 grantees, Rugby demonstrates a considerable degree of innovation, vital for long-term economic vitality.
Conclusion
Rugby’s economy is marked by its diversity in sectors, steady employment growth, and an encouraging environment for new businesses and scaleups. While there are challenges in company cessations and gender disparity in leadership, the city’s strong performance in innovation and sector dynamics positions it well for future economic success.