Reigate and Banstead is recognised as a relatively affluent area with a buoyant local economy. The borough is one of the four local authorities which form the East Surrey economy (including Epsom & Ewell, Mole Valley and Tandridge). Reigate & Banstead is in a strategically and economically important location aligned with the M23 / A23 corridor linking London, Gatwick Airport and the South Coast.
Economic activity in the borough is concentrated predominantly in the central urban areas of Redhill and Reigate with clusters of activity in Horley to the south and Banstead to the north. The borough plays a key role in the Gatwick Diamond economy, which has historically been one of the strongest regional economies in the UK, performing well above
the national average on a range of economic indicators. Reigate & Banstead also sits within the Coast to Capital Local Enterprise Partnership regional economy.
As a result of its strategic location and the quality of the local environment, the Borough has attracted a number of major national and international companies.
Enabling economic development
The Council is committed to maintaining a prosperous local economy: many areas of the Council’s work have an important role in enabling economic development, from granting permissions to partnership working and funding for environmental and other improvement schemes.
The Economic Prosperity team works with a range of partners to understand and represent the needs and interests of the borough’s economy and to deliver our work plan.
These include our direct work with local businesses (large and small) as well as indirectly through local business and industry representative bodies and town guilds.
On a strategic level, we also work with neighbouring local authorities, education providers, and regional policy makers and economic development bodies. We continue to work closely with these partners to identify priorities for future investment and development in the borough.
Planning for economic development
The Core Strategy sets out the strategic vision and spatial strategy for the borough to 2027. It outlines our plans for economic development and explains how we will deliver these. As part of this work we have commissioned an Economic Market Assessment and are continuing to update our economic evidence base.
The Council is also working with partners to regenerate Redhill and Horley town centres to encourage continuing economic prosperity and improve the quality of life for local residents.
We regularly monitor commercial planning permissions and vacant commercial premises in the Borough’s town centres, industrial estates and edge of town areas for small businesses.