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 which is unique in the UK and as such has a specialist team that works with inward investment, Invest Milton Keynes.
The evidence and recognition of Milton Keynes as a regional economic powerhouse is clear:
- For the sixth year running the annual index of economic performance puts Milton Keynes as the top city in the country for jobs growth, with 24,400 new jobs being created between 2004 and 2013 – a phenomenal rise of 18.2%.
- Ranked number one for start-ups outside of london.
- Fastest growing city in the country according to the report.
- Our development plans indicate an overall population rising from 255,700 in 2013 to over 300,000 by 2026, one of the highest growth rates in England.
- The Milton Keynes economy (GVA) was worth £8.2 billion in 2011 and £8.7 billion in 2012 an increase of 5%. The value of goods and services produced within the borough is an impressive £58,900 per worker, the third highest in England.
- Over £1 billion of private investment has been committed in the last decade, transforming the city's skyline with new architecture, developing the infrastructure needed and creating an unparalleled air of optimism throughout the city
- Milton Keynes was in the top 10 for new patents per 10,000 population
Milton Keynes has been named the best place to do business thanks to its “winning formula” in The Business Location Index; the most detailed study ever conducted into the business potential of cities and counties in England.
The study is a joint project between respected independent researchers Local Futures and local government journal the MJ (Municipal Journal), who collated hundreds of statistics to build a picture of the attractiveness of towns and cities to investors.
Researchers looked at scores of different criteria to come up with 15 measures in three categories: economic performance, human resources, and environment and infrastructure.
Milton Keynes scored very highly in each category, and as a result was ranked at the top of the Index, beating 325 other areas, as the best place to locate and operate a business.
Pam Gosal, Head of Economic Development and Inward Investment said: “With enviable statistics such as these, it’s no surprise that Milton Keynes is number one over the last 10 years for job growth.
"At InvestMK we play a vital role in attracting and retaining companies nationally and internationally, providing crucial information on locations, demographics and support companies into making the decision as to whether to establish or relocate to Milton Keynes.”
The council has its own specialist team, InvestMK, which has been instrumental in bringing thousands of jobs to Milton Keynes.