Introducing Economic Development in Milton Keynes
Milton Keynes is a dynamic and growing place with a scale and pace of growth, powered by investment in housing and employment, unique in the UK. This growth is assisted by a specialist team, Invest Milton Keynes. The role of the team is to attract inward investment to the area, offering a range of support to businesses looking to relocate to Milton Keynes and providing ongoing assistance to those companies already based within the city.
Statistics and accolades all point to the strength of Milton Keynes as a regional economic powerhouse. Forecasts and plans for future development further suggest that this role will continue and grow:
- Milton Keynes is consistently ranked as one of the top UK cities for growth in employment and Gross Value Added (GVA) in the UK Powerhouse reports.
- Between 2005 and 2015, employment increased by almost 25%, with 33,000 new jobs created. The population increased by approximately 17%. In 2016, there were 183,000 jobs in Milton Keynes.
- ONS estimates suggest the population will continue to increase from 264,500 in 2016 to over 300,000 by 2027.
- One of the UK’s top five cities for business start-ups per 10,000 population
- The Milton Keynes economy (GVA) was worth £11.2 billion in 2015 and £12.14 billion in 2016 (provisional), an increase of 8%. The value of goods and services produced within the borough is an impressive £64,800 per worker, the fifth highest of UK cities.
- Milton Keynes is consistently within the top 12 for new patents per 100,000 population
- Milton Keynes consistently features as one of the UK’s top ten cities to work
- Ranked 8th in the UK in the UK Tech Innovation index 2017
- Identified as one of the UK’s five Fast Growth Cities
- At the centre of the Cambridge-Milton Keynes-Oxford Corridor
Last Updated: 10 January 2018