This article is about the Economy of Luton
Over the centuries, due to technological and economic change, Luton's economy has changed and developed to keep pace with the rest of the UK. Major industries that are related to Luton include Brickmaking, Millinery or Hat making, Automobile production and its airport, London Luton Airport. Currently, Luton is going through a regeneration scheme that will transform the Central Business District to include a new shopping centre on Power Court, the redevelopment of the Town Square and a refit of The Mall Arndale Centre.
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Vauxhall came to Luton in 1905, just two years after the company had started to make cars.[1] The company was taken over by GM in 1925 but continued to develop and build its own vehicles in Luton. In 1931 the truck and bus arm Bedford was created, the first Bedford vehicles were reworked Chevrolet vehicles but Bedford soon became a unique marque in its own right. During the Second World War, Vauxhall became a major supplier of lorries and also produced the Churchill Tank which were tested in the grounds of nearby Luton Hoo. The lake at Wardown Park was even used for testing vehicles to be used on D-Day. During the 1960s the factory in Luton employed 37,000 people but from the end of the 1960s production and employment in the town was reduced.
In 2000 the company announced that car production would end and the factory finally closed in March 2002. The company still has a factory in the town, producing the Vauxhall Vivaro, Nissan Primastar and Renault Trafic vans.[2]
This is a chart of trend of regional gross value added of Luton at current basic prices published[3] (pp. 240-253) by Office for National Statistics with figures in millions of British Pounds Sterling.
| Year | Regional Gross Value Added a | Agriculture b | Industry c | Services d |
|---|---|---|---|---|
| 1995 | 2,067 | 1 | 902 | 1,165 |
| 2000 | 2,614 | 1 | 850 | 1,763 |
| 2003 | 3,090 | 1 | 811 | 2,278 |
Notes