MK once again praised in latest Centre for Cities report
Monday 5 February 2018
Milton Keynes has once again been praised by renowned independent think-tank Centre for Cities in its annual economic UK health check.
For close to a decade now, MK has featured as one of the best performing places in the UK for jobs growth, earnings and other indicators of economic success.
In this year’s report, figures show:
- Milton Keynes created 11,000 new private sector jobs in 2016 – more than any other place and an 8% increase to 145,000 private sector jobs locally.
- Milton Keynes is placed 3rd out of 62 cities for the highest number of start-ups, only behind London and Slough.
- We’re also 3rd for the highest number of businesses overall, with 463 businesses for every 10,000 people.
- We’re one of the most productive places in the UK – 4th for GVA, which is a measure of how many goods and services are produced locally.
- We’re 4th for average weekly earnings, at £619 (the UK average is £539).
These rankings use data from 2016 and MK is expected to perform even better in next year’s report, based on early figures from 2017.
MK’s ongoing economic success has significant national impact – last year the National Infrastructure Commission set out its vision for the Cambridge-MK-Oxford Arc, including MK’s growth and the creation of more high tech jobs, fulfilling an important role as ‘Britain’s Silicon Valley’.
Council Leader Pete Marland said: “MK is in a strong place economically and with unique potential for successful growth over the next 50 years. We need to fulfil this potential in the best way for local people and businesses. That means planning carefully to get the right balance of infrastructure, homes, green space, local skills and business growth.
“It also means working hard to keep investment coming into MK. Projects like the creation of MK:U, a state of the art new university for Milton Keynes, and CityFibre’s £40m investment in gigabit speed broadband announced last week will help businesses to feel Milton Keynes is the best place in the UK to start and grow.”