The borough of Reigate & Banstead is home to a growing population of around 153,629 people. Many people who move to the area are attracted by the strong local economy, thriving town centres, excellent transport links, quality housing and outstanding local schools, all set within a natural environment that includes the Surrey Hills Area of Outstanding Natural Beauty.
Reigate & Banstead’s unemployment has traditionally been lower than the national average and household income around £15k higher. The average house price in the borough (Jan 2024) is currently £455k compared to £375k across the South East as a whole.
Connections
Reigate & Banstead borough benefits enormously from its transport links and location within the region. North to south, the A23/M23 corridor and London to Brighton railway link the borough directly and quickly with London, Gatwick Airport and the South Coast. From east to west, the M25 runs through the borough, linking with Heathrow and beyond.
Reigate & Banstead’s connectivity has been an important factor in attracting businesses, particularly larger businesses and corporate headquarters, to the borough. It has also been a magnet for commuters.
Business and Employment
Reigate & Banstead is the second largest economy in Surrey, worth around £5.75 billion to the national economy. There are around 7,300 registered businesses located in Reigate & Banstead and 68,350 jobs.
The borough has a strong cluster of larger finance and insurance businesses which employ around 7,000 people. A further 7,000 people work in Professional, Scientific & Technical sector roles. Other large sectors in terms of the numbers employed are Health & Social Work (12,000), Wholesale & Retail (7,500), Admin and Support Services (7,000), Education (5,000) and Construction (5,000 jobs).
"The Council's emphasis is on creating an environment in which all businesses can thrive, from sole traders to those with multimillion pound turnovers."
You are the future of Reigate and Banstead’s Workforce
The borough is home to around 30 large employers with more than 250 employees, many of which are major global businesses that have chosen Reigate & Banstead for their headquarters. Large businesses located in the borough include esure, Fidelity, Willis Towers Watson, Kimberly-Clark, Pfizer, Toyota and Total Gas & Power.
There is also a thriving community of small and medium-sized businesses which includes companies such as Jellyfish, Just, Rapiscan, Cubic Transportation Systems and Marlborough Communications. Most of the larger companies are based in Redhill and Reigate which provide the focal point for much of the borough’s office and commercial business accommodation. Reigate & Banstead is also a highly entrepreneurial borough – 15% of residents are self-employed. Reigate & Banstead Borough Council leads the drive for economic growth and is at the forefront of a number of large-scale regeneration projects.
Reigate & Banstead Borough Council leads the drive for economic growth and is at the forefront of a number of large-scale regeneration projects. Cllr Eddy Humphreys (Portfolio Holder for Business and the Economy), explains: “The Council’s emphasis is on creating an environment in which all businesses can thrive, from sole traders to those with multimillion pound turnovers. We are already starting to see the positive effects of a £250m programme of investment in the borough, building on the borough’s reputation as a prosperous and forward-looking local economy. Recent developments in Redhill include a new office space and a flagship redevelopment of Warwick Quadrant, adding retail space, a new hotel and gym, and additional parking at the heart of Redhill town centre.”
Reigate & Banstead Borough Council has transformed Marketfield Way, Redhill, with The Rise a brand-new leisure, retail and residential development and there are further regeneration plans for Horley which include the development of a high-quality business park on the outskirts of Horley, which has the potential to create thousands of new jobs and bring significant inward investment.