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==Economy== Preston has seen many changes over the course of its history in regards to its local economy, shifting from a market town to the textile industry and more recently to tertiary education and research. The city was home to [[Alstom]] Transport's main UK spare parts distribution centre (formerly [[GEC Traction|GEC Traction Ltd]]) until it transferred operations to [[Widnes]] in July 2018.<ref>{{cite web| url=https://www.bbc.co.uk/news/uk-england-lancashire-41753242| publisher=BBC News| title=Rail firm Alstom to close historic Preston site after 120 years| date=25 October 2017| access-date=10 February 2020| archive-date=9 January 2021| archive-url=https://web.archive.org/web/20210109144958/https://www.bbc.com/news/uk-england-lancashire-41753242| url-status=live}}</ref> [[Matalan]] Retail Ltd was also founded in Preston under the name Matalan Cash and Carry. Although the head office of Matalan moved to [[Skelmersdale]] in 1998, the city still has the tax office for the company (located in [[Winckley Square]]). Goss Graphic Systems Limited, a global supplier of [[printing press]]es based in the United States, formerly employed more than 1,000 people in Preston, but in 2007 the company moved manufacturing to the United States, China and Japan and now has around 160 employees in the city.<ref>{{cite web | url=http://www.lep.co.uk/news/Goss-in-talks-to-axe.5109639.jp | title=Goss in talks to axe 60 more staff | first=David | last=Coates | work=[[Lancashire Evening Post]] | publisher=[[Johnston Press]] | date=25 March 2009 | access-date=5 April 2009 | archive-date=27 March 2009 | archive-url=https://web.archive.org/web/20090327205905/http://www.lep.co.uk/news/Goss-in-talks-to-axe.5109639.jp | url-status=dead }}</ref> Unemployment in Preston rose 15% in the year up to April 2012 to a total of 3,783 claimants.<ref>{{cite web |title=Lancashire County Council, Unemployment core data, official unemployment and claimant count. |publisher=Lancashire County Council |url=http://www.lancashire.gov.uk/office_of_the_chief_executive/lancashireprofile/unemployment/core.asp#ccpr |url-status=dead |access-date=30 April 2012 |archive-url=https://web.archive.org/web/20120415021115/http://www.lancashire.gov.uk/office_of_the_chief_executive/lancashireprofile/unemployment/core.asp#ccpr |archive-date=15 April 2012 }}</ref> However, in November 2018 Preston was named as "Most improved city in UK", with unemployment down to 3.1% from 6.5% in 2014, and improvements above the national average for health, transport, the work-life balance of its residents, and for the skills among both the youth and adult populations.<ref>{{cite web|author=Partington|first=Richard|date=1 November 2018|title=Preston named as most improved city in UK|url=https://www.theguardian.com/politics/2018/nov/01/preston-named-as-most-most-improved-city-in-uk|url-status=live|access-date=15 February 2020|work=The Guardian|archive-date=13 January 2020|archive-url=https://web.archive.org/web/20200113063305/https://www.theguardian.com/politics/2018/nov/01/preston-named-as-most-most-improved-city-in-uk}}</ref> ===Major employers=== Preston is a major centre of the British defence aerospace industry with [[BAE Systems]], the UK's principal military aircraft design, development and manufacture supplier, having its Military Aircraft headquarters located in nearby [[Warton, Fylde|Warton]]. The company has two of its major facilities located some miles on either side of the city. [[BAE Warton]] is located to the western side of the city whilst [[BAE Samlesbury]] is located to the east, over the [[M6 motorway]]. BAE Systems also operate large office facilities at the Portway area within the city and at The Strand office complex. On 20 February 2006, the telecommunications retailer [[The Carphone Warehouse]] took over Tulketh Mill (formerly the home of the [[Littlewoods]] catalogue call centre) in the [[Ashton-on-Ribble]] area of the city. The building has undergone an extensive interior refurbishment and since March 2007 had been the workplace of some 800 employees. The site's main purpose was as a [[call centre]] for the broadband and [[landline]] services provider [[TalkTalk Group|TalkTalk]] as well as [[The Post Office]] and [[Student Loans Company]]. The site also housed call centres for [[Team Knowhow]] and [[Carphone Warehouse]] which are now part of [[Dixons Carphone]]. It was officially opened on 19 December 2006 by CEO [[Charles Dunstone]] and the Mayor of Preston. Following the [[COVID-19 pandemic]], [[Dixons Carphone]] along with other tenants within Tulketh Mill, moved to a hybrid working solution (time split between working from home and working from the office), eventually moving to a permanent working from home solution and as of August 2022 [[Dixons Carphone]] no longer have any operations based in Tulketh Mill. Due to Preston's location as a transport hub, sitting between the M6, M55, M65, and M61 it is home to several freight and haulage companies. Haulage supplier and operator James Hall and Co who supply produce for [[Spar (store)|Spar store]]s in the north of England have their head office – the biggest building in the city of Preston<ref>{{cite web|url=http://www.preston-city.com/files/news/PCC%20Newsletter%20v4.pdf|title=Confirmation of Relocation|access-date=25 April 2007|archive-date=26 July 2007|archive-url=https://web.archive.org/web/20070726062629/http://www.preston-city.com/files/news/PCC%20Newsletter%20v4.pdf|url-status=dead}}</ref> – located just off the M6 Junction 31a at Bowland View. The [[Riversway]] area (in the [[Ashton-on-Ribble]] area of the city) is also home to the [[Preston Dock]]lands, once Europe's largest single dock basin, which has undergone redevelopment. Several office areas around the docks, along with significant residential presence. Several small businesses such as the [[The Football League|Football League]]'s LFE headquarters<ref>{{cite web|title=Contact LFE|url=http://www.lfe.org.uk/contact/contact-lfe|publisher=League Football Education|access-date=13 December 2011|year=2009|archive-date=3 December 2011|archive-url=https://web.archive.org/web/20111203005735/http://www.lfe.org.uk/contact/contact-lfe|url-status=dead}}</ref> are based in the area, together with Riversway Developments<ref>{{cite web | url=http://www.riverswaydevelopments.co.uk | title=Riversway Developments | access-date=6 June 2021 | archive-date=9 January 2021 | archive-url=https://web.archive.org/web/20210109145012/http://www.riverswaydevelopments.co.uk/ | url-status=live }}</ref> who have been responsible for some of this redevelopment. The financial sector also has a presence in the city with a large selection of consultancies, insurance and law firms based in [[Winckley Square]] in the city centre.{{citation needed|date=January 2020}} The [[Westinghouse Electric Company]] (formerly [[BNFL]]) Springfields nuclear processing plant also lies to the west of the city boundary at [[Salwick]]. [[Skiddle]] is an event ticketing operation based in Preston since 2001, which claims to be the UK's largest what's on the guide. ===Retail=== [[File:Fishergate, weekday afternoon - geograph.org.uk - 1710853.jpg|thumb|Fishergate, Preston's main shopping district]] Retail is also a major contributor to Preston's economy. The city's main high streets are Fishergate and Friargate which offer shops, bars and restaurants with many more tucked away down the side streets. Two major shopping centres are located along the high streets: *[[Fishergate Shopping Centre]] – which had a [[Debenhams]] department store (closed May 2021) *[[St George's Shopping Centre (Preston)|St George's Shopping Centre]] (formerly ''The Mall Preston'') – a popular centrally located shopping mall dating from the 1960s. Preston is also home to the historic [[Covered Market, Preston|Covered Market and Fishmarket]]. In 2016 these sites were redeveloped, and the old covered market now contains the new Market Hall and the Outdoor and Secondhand Markets, and the old fish market now contains the Box Market, a unique shopping space consisting of upgraded shipping containers. Market vendors sell fresh and local quality meat, fish, fruit, vegetables, and dairy products, other hot and cold food to eat in or take away, as well as brewed ales and artisan coffee. The markets are open Monday–Saturday, and on Tuesdays a [[car boot sale]] operates from the Outdoor Market.<ref name=PrestonMarkets>{{cite web| url=https://www.prestonmarkets.co.uk/| publisher=Preston Markets| title=Preston Markets| access-date=10 February 2020| archive-date=9 January 2021| archive-url=https://web.archive.org/web/20210109145000/https://www.visitpreston.com/visit/shopping/preston-markets/| url-status=live}}</ref> Also in the city centre is the [[Miller Arcade]], a specialist shopping centre in a listed building (which formerly included a [[Victorian Turkish baths]]), is situated off Fishergate near the [[Harris Museum]]. The first [[KFC]] outlet in the UK was opened on Fishergate in 1965.<ref>{{cite web|title=Our Business|url=http://www.kfcdevelopment.co.uk/aboutus.aspx|work=KFC Development|publisher=Kentucky Fried Chicken|access-date=13 December 2011|year=2008|archive-date=21 April 2014|archive-url=https://web.archive.org/web/20140421023716/http://www.kfcdevelopment.co.uk/aboutus.aspx|url-status=live}}</ref> The Flag Market is the home of fast food provider Spud Bros. They are based at the Hot Potato Tram which has been serving up [[baked potato]]es and [[Black peas|parched peas]] to Preston visitors since 1955.<ref>https://www.lep.co.uk/news/meet-the-spud-brothers-who-are-taking-over-preston-one-jacket-potato-at-a-time-4489674</ref> A number of large retail shopping centres can be found in Preston's suburbs and surrounding towns, including: *Deepdale Shopping park, on the A5085 Blackpool Road on the northern edge of the city, has over 30 major stores Free parking is provided for over 1,000 cars.<ref>{{cite web| url=https://www.deepdaleshoppingpark.com/| title=Deepdale Shopping Park| access-date=10 February 2020| archive-date=9 January 2021| archive-url=https://web.archive.org/web/20210109145031/https://www.google.com/maps/place/Deepdale+Shopping+Park/@53.7741999,-2.6787,17z/data=!3m1!4b1!4m5!3m4!1s0x487b0d0200326285:0x83b6dae280d435c2!8m2!3d53.7741999!4d-2.6765113?hl=en&shorturl=1| url-status=live}}</ref> *Riversway Retail Park, located off the A583 Riversway at [[Ashton-on-Ribble]]. Free parking is provided.<ref>{{cite web| url=https://www.the-shops.co.uk/PR2/preston/| publisher=The Shops| title=List of shops in Preston (PR2)| access-date=10 February 2020| archive-date=9 January 2021| archive-url=https://web.archive.org/web/20210109144951/https://www.the-shops.co.uk/PR2/preston/| url-status=live}}</ref> *Capitol Centre Retail Park on the A6 London Way just outside the city boundary at [[Walton-le-Dale]], in the neighbouring borough of [[South Ribble]]. The centre has over 20 major stores. Free car parking is provided along with a bus interchange.<ref>{{cite web| url=http://capitolcentre.waltonledale.co.uk/| title=Capital Centre Walton-le-Dale| access-date=10 February 2020| archive-date=9 January 2021| archive-url=https://web.archive.org/web/20210109144954/http://capitolcentre.waltonledale.co.uk/| url-status=live}}</ref> *South Rings Business Park is located several miles outside Preston, off the A6 at [[Bamber Bridge]], near the intersection of the M6, M65 and M61 motorways. Free car parking is provided.<ref>{{cite web| url=http://capitolcentre.waltonledale.co.uk/south-rings/| title=Capital Centre Walton-le-Dale| access-date=10 February 2020| archive-date=9 January 2021| archive-url=https://web.archive.org/web/20210109145015/http://capitolcentre.waltonledale.co.uk/south-rings/| url-status=live}}</ref> ===Education and research=== The [[University of Central Lancashire]] ("UCLan ") has become a major employer and source of economic growth not just for Preston in recent years, but for Lancashire as a whole, providing direct and indirect benefits to the local economy through employment, housing and retail. The Regeneris Report commissioned by the [[Lancashire County Council]] in 2013/14 found that UCLan: * contributed over £200m to the North West economy * was one of the largest employers in Preston and supported an estimated 4,300 Full-Time Equivalent (FTE) jobs in the North West through its core economic footprint and through the expenditure of students * with 36,160 students was the largest university in Lancashire and the third-largest in the North West, with the 9th largest undergraduate population of all UK universities * graduates add on average £24m to the North West economy per annum through increased skills and productivity<ref name=UCLanRegeneris>{{cite web| url=https://www.uclan.ac.uk/news/report_highlights_uclans_importance_to_regional_economy.php| publisher=University of Central Lancashire| title=Report Highlight's UCLan'S Importance To Regional Economy| access-date=10 February 2020| archive-date=9 January 2021| archive-url=https://web.archive.org/web/20210109144957/https://www.uclan.ac.uk/news| url-status=live}}</ref> In terms of direct economic benefits, in 2013/14 UCLan: * directly employed 3,290 staff * spent £15 million on suppliers based throughout Lancashire and the wider North West area * had 18,390 full-time students residing in the North West who spent a total of £210m throughout the region, with £155m of that being spent in Lancashire.<ref name=UCLanRegeneris /> In 2015, UCLan announced its intention to create historic and transformational change at its Preston Campus through a £200 million development programme entitled '''Campus Masterplan 2020'''. UCLan's vision over the next five years is to create a unified, sustainable and welcoming campus which will enhance the experience for all those visiting the university.<ref>{{cite web| url=https://uclanmasterplan.co.uk/| publisher=University of Central Lancashire| title=Campus Masterplan 2020| access-date=10 February 2020| archive-date=9 January 2021| archive-url=https://web.archive.org/web/20210109144955/https://uclanmasterplan.co.uk/| url-status=live}}</ref> The long-term vision is to spark a major focus on regeneration and business investment in the university quarter, reinforce the university's ties to the local community and create wider benefits for Preston and beyond.<ref>{{cite web| url=https://uclanmasterplan.co.uk/our-vision/| publisher=University of Central Lancashire| title=Campus Masterplan 2020 – Our Vision| access-date=10 February 2020| archive-date=9 January 2021| archive-url=https://web.archive.org/web/20210109144955/https://uclanmasterplan.co.uk/our-vision/| url-status=live}}</ref> September 2019 saw the opening of the £35 million Engineering Innovation Centre (EIC), a facility with integrated teaching and research space.<ref>{{cite web| url=https://www.uclan.ac.uk/about_us/| publisher=University of Central Lancashire| title=About Us| access-date=10 February 2020| archive-date=9 January 2021| archive-url=https://web.archive.org/web/20210109145014/https://www.uclan.ac.uk/about-us| url-status=live}}</ref> [[File:UCLan_Gateway_20200212.jpg|thumb|Construction of [[University of Central Lancashire|UCLan]]'s new student centre and public square]] [[File:University Square Preston 20211113.jpg|thumb|The newly opened Student Centre and University Square]] Also under development is the £57 million Student Centre and public square, which will provide a new campus reception building housing several student services, meeting rooms, office space, event venues and a rooftop garden. The new public square, provisionally known as ''Adelphi Square'', will span over 8,400 square metres<ref>{{cite web| url=https://www.uclan.ac.uk/news/flagship-project.php| publisher=University of Central Lancashire| title=University's flagship project will complete in 2020| date=27 August 2019| access-date=12 February 2020| archive-date=9 January 2021| archive-url=https://web.archive.org/web/20210109145017/https://www.uclan.ac.uk/news| url-status=live}}</ref> and will be constructed in front of the new student centre and opposite the EIC, on empty land that was previously the site of the Fylde Building and public land bought by UCLan from the council. The project has seen the demolition of existing housing in St Peter's Square opposite the UCLan Library and St Peter's Arts Centre, and redevelopment of the A583 and other nearby public roadways, including the Adelphi roundabout, which will result in revised traffic flows. Construction commenced in the third quarter of 2019 and is expected to be completed in 2021.<ref>{{cite web| url=https://uclanmasterplan.co.uk/highways/| publisher=University of Central Lancashire| title=Campus Masterplan 2020 – Highways| access-date=10 February 2020| archive-date=9 January 2021| archive-url=https://web.archive.org/web/20210109145026/https://uclanmasterplan.co.uk/highways/| url-status=live}}</ref> On 30 July 2021 UCLan officially took ownership of the new Student Centre and University Square (which had provisionally been known as Adephi Square) when a ceremonial key was presented to the university's Vice-Chancellor, Professor Graham Baldwin, by the project's major contractor [[Bowmer + Kirkland]]. The building became operational in September 2021.<ref>{{cite web |url=https://www.uclan.ac.uk/news/uclan-takes-ownership-of-60-million-student-centre-and-university-square |title=UCLan takes ownership of £60 million Student Centre and University Square |publisher=University of Central Lancaster |date=30 July 2021 |access-date=15 November 2021}}</ref> As UCLan increases in the global rankings,<ref>{{cite web| url=https://www.uclan.ac.uk/news/uclan-cwur-rankings-2017.php| publisher=University of Central Lancashire| title=UCLan Listed In Top 3.3% Of Universities Worldwide| access-date=10 February 2020| archive-date=9 January 2021| archive-url=https://web.archive.org/web/20210109144958/https://www.uclan.ac.uk/news| url-status=live}}</ref> it continues to attract more international students, researchers and Fellows, as well as partnerships with international learning institutions. It is anticipated that further economics benefits from increased foreign investment and business opportunities should entail.<ref>{{cite web| url=https://www.economist.com/international/2018/05/19/how-global-university-rankings-are-changing-higher-education| publisher=The Economist| title=How global university rankings are changing higher education| date=19 May 2019| access-date=10 February 2020| archive-date=9 January 2021| archive-url=https://web.archive.org/web/20210109144955/https://www.economist.com/international/2018/05/19/how-global-university-rankings-are-changing-higher-education| url-status=live}}</ref> ===Proposed developments=== An £800 million<ref>{{cite web|url=http://www.lep.co.uk/travel/800-million-plan-could-cause.3805457.jp|title=£800 million plan could cause more traffic chaos|access-date=22 February 2008|archive-date=27 February 2008|archive-url=https://web.archive.org/web/20080227161152/http://www.lep.co.uk/travel/800-million-plan-could-cause.3805457.jp|url-status=dead}}</ref> regeneration project known as the [[Preston Tithebarn redevelopment|Tithebarn Project]] was also planned for Preston. The project was originally managed by property giants [[Grosvenor Group|Grosvenor]] and [[Lendlease]], Grosvenor withdrew from the project,<ref>{{cite web|url=http://www.lep.co.uk/news/-700m-Tithebarn-project-hit.5739827.jp|title=Tithebarn Project Hit by Grosvenor Withdrawal|access-date=9 April 2010|archive-date=19 October 2009|archive-url=https://web.archive.org/web/20091019120339/http://www.lep.co.uk/news/-700m-Tithebarn-project-hit.5739827.jp|url-status=dead}}</ref> followed a few years later by Lendlease. The project was dependent upon a number of requirements (such as the re-location of the current [[Preston bus station|bus station]], which would cost at least £25million, and be funded largely by the taxpayer).<ref>{{cite web|url=http://www.lep.co.uk/news/bus_station_s_soaring_cost_1_767368|title=Soaring Cost of Replacing Bus Station|access-date=14 May 2010|archive-date=18 May 2010|archive-url=https://web.archive.org/web/20100518121551/http://www.lep.co.uk/news/bus_station_s_soaring_cost_1_767368|url-status=dead}}</ref> In November 2011, it was announced that [[John Lewis & Partners|John Lewis]], who were originally intended to be the major flagship store of the Tithebarn development had also withdrawn from the project, effectively killing it.<ref>{{cite news | url=http://www.lep.co.uk/community/john-lewis-pull-out-of-preston-revamp-1-3931003 | archive-url=https://archive.today/20130420220742/http://www.lep.co.uk/community/john-lewis-pull-out-of-preston-revamp-1-3931003 | url-status=dead | archive-date=20 April 2013 | title=John Lewis pull out of Preston revamp | newspaper=[[Lancashire Evening Post]] | date=17 November 2011 | access-date=26 April 2012 | location=Preston }}</ref> The council is now exploring more piecemeal ways of bringing in development<ref>{{cite web|url=http://www.lep.co.uk/news/business/top-developer-is-still-in-the-frame-video-1-4490384|title=Top developer is still in the frame – VIDEO|work=lep.co.uk|access-date=30 April 2012|archive-date=14 April 2019|archive-url=https://web.archive.org/web/20190414081620/https://www.lep.co.uk/news/business/top-developer-is-still-in-the-frame-video-1-4490384|url-status=dead}}</ref> and former [[Labour Party (UK)|Labour leader]] [[Jeremy Corbyn]] praises Preston for its "inspiring innovation".<ref>{{cite news|url=https://www.theguardian.com/commentisfree/2018/jan/31/preston-hit-rock-bottom-took-back-control|title=In 2011 Preston hit rock bottom. Then it took back control.|newspaper=[[The Guardian]]|date=31 January 2018|access-date=8 January 2019|archive-date=9 January 2021|archive-url=https://web.archive.org/web/20210109145014/https://www.theguardian.com/commentisfree/2018/jan/31/preston-hit-rock-bottom-took-back-control|url-status=live}}</ref> Since city status was awarded in 2002, Preston has been targeted by a number of developers. Residential developments were particularly popular with new apartments planned in and around the city centre. Many of these developments however are still struggling to find buyers for these apartments, and there are rising numbers of repossessions.<ref>{{cite web|url=http://www.lep.co.uk/news/Preston-The-city-of-ghosts.6205139.jp|archive-url=https://web.archive.org/web/20100409072212/http://www.lep.co.uk/news/Preston-The-city-of-ghosts.6205139.jp|archive-date=9 April 2010|title=Preston: City Of Ghosts|date=6 April 2010|access-date=26 February 2012}}</ref> Office and hotel space is also in demand and a new Central Business District is being planned as well as a number of new hotels. ===Culture and music === In September 2024 Moor Park in the city was the venue for ''[[Radio 2 in the Park]]'', with guest artists including [[Sting (musician)|Sting]], [[Sister Sledge]], [[Manic Street Preachers]] and the [[Pet Shop Boys]].<ref>{{Cite web|url=https://www.bbc.co.uk/events/e89j6q|title=Radio 2 in the Park 2024|website=BBC Music Events}}</ref><ref>{{Cite web|url=https://www.manchestereveningnews.co.uk/whats-on/whats-on-news/bbc-radio-2-park-gets-29891411|title=Radio 2 in the Park has a flying start – but there's something different here|first=Greta|last=Simpson|date=8 September 2024|website=Manchester Evening News}}</ref>
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