By Brady Haran BBC News Online

Barley and wheat are grown in Lincolnshire

But as the coal runs out and clothing factories close down because of Asia's cheap labour markets, things are changing.

According to experts, the future of the East Midlands now lies in an eclectic collection of industries, from aerospace to food technology.

And it is also hoped the region can cash in on the glamour of motorsports, such as Formula One.

The East Midlands Development Agency has identified six main areas to be nurtured.

These industries are:

• High performance engineering (particularly motorsport and aerospace)

• Clothing and textiles (with an emphasis on new design-led sectors)

• Food and drink (focusing on food technology)

• Health care (majoring on bioscience)

• Creative industries (emphasis on new media)

• Environmental technologies (including green energy sources)

Chief executive of the East Midlands Development Agency, Martin Briggs, said engineering was an obvious choice.

The British Grand Prix is held at Silverstone

"Engineering was obvious because it has been the dominant manufacturing industry for a long while.

"The East and West Midlands have more manufacturing employment than any other English regions.

"But the recent focus in engineering has been on the new areas of growth and development that people often don't recognise as central to the future."

Mr Briggs cited Rolls Royce's jet engine manufacturing in Derbyshire as an obvious example.

He added: "But people often don't notice there are some 70,000 jobs in the UK directly dependant on motorsport and Formula One at Silverstone, which is in the southern end of this region in Northamptonshire.

"The way Formula One has developed, seven of the top 10 teams have all of their research and development work and all their production work concentrated around the south of the Midlands and down to the Thames Valley."

PICTORIAL TOUR Pictures from the East Midlands

Mr Briggs said it was important to encourage these industries and ensure they did not leave the region.

In the area of textiles, Mr Briggs conceded there had been major job losses.

He said: "Clothing and textiles has been an absolutely dominant part of the city industries in this region for 150 years.

"There was a widespread perception two or three years back that the industry was dying on its feet.

"Certainly job losses have been substantial, but at the same time there are really exciting and niche areas where businesses are growing.

"It's not all doom and gloom.. there are opportunities.

"That is not to say that employment won't go down, because I think even in a successful textiles industry in 10 years it will employ less than it does now, but the output will be much greater."