Farming and tourism 'help insulate' Lincolnshire
- 9 September 2010
- From the section Lincolnshire
Much of Lincolnshire should be able to ride out any tough times in the future, according to a new study.
The State of the Region project suggests that while parts of the county could be hit hard by economic problems, many areas can weather such issues.
The BBC-commissioned research, done by Experian, ranks the resilience of English council areas to economic shocks, such as public sector cuts.
North East Lincolnshire is rated as one of the most vulnerable in the country.
State of the Region uses various indicators, including types of industry, levels of self-employment, qualifications, house prices, social cohesion and development to judge an area's prospects for stability.
Of the 324 areas rated, none in Lincolnshire made it into the top 100 most resilient, the highest being South Kesteven at 118.
Of the total nine county areas, three, including Lincoln city and North Lincolnshire, came in the bottom 100 but only one, North East Lincolnshire, in the bottom 70.
Simon Beardsley, chief executive of the Lincolnshire Chamber of Commerce, said: "Historically, Lincolnshire never hits the highs of GDP but also never sees the lows.
"Much of this is because parts of the economy, based on agriculture, horticulture and tourism, are relatively stable."
He added: "But places like Lincoln and North East Lincolnshire, which is influenced by Hull, have a high reliance on the public sector.
"If there are public sector cuts, you will see the impact quickly on the area in a lack of spending power in the local economy."
Mr Beardsley pointed to a recent 10% growth in orders for manufacturing firms in the area but warned this could easily stop.
"There are lots of worries about the availability of government money and bank credit. This is what will support or undermine businesses and communities," he said.
BBC Radio Lincolnshire will have a debate on the results of the research at 0900 BST on 10 September.