Growth Corridor partners unite at MIPIM UK 2018

Strength across region at MIPIM UK, 17-18 October, Stands E09/F08/E13/F14                                                 

For the first time, the Councils, LEPs and other partners*1 in the Oxford - Milton Keynes - Cambridge Growth Corridor will come together at MIPIM UK to jointly promote the investment and growth opportunities within the Corridor, with one fundamental message - this corridor is the location for transformational investment within the knowledge economies for businesses and investors looking to deliver sustainable growth for the UK.

The Corridor covers the UK’s fastest growing locations*2 with the focus on economically-led growth, and major infrastructure in development to enable the region to realise its full potential for innovation and technology clusters.  It offers extensive development opportunities but, in particular, success is proven through existing businesses across the entire area; innovation and technology clusters, education establishments and high technology organisations have all seen expansion.

Collectively the Corridor is already the UK’s leading growth location outside of London, contributing more than £90 billlion of annual GVA to the UK economy.  Its proactive business environment is recognised by the Government as a powerful opportunity to compete globally as a knowledge intensive cluster, supported by transformational investment through nationally significant infrastructure projects, including the East West Rail Link between Oxford and Cambridge, the Expressway, A14 and A1 road network enhancements.  

Jason Longhurst, director of Regeneration and Business at Central Bedfordshire Council and Chair of UK Business Council for Sustainable Development said, “The Growth Corridor is rich in assets and is already one of the most innovative and economically successful areas of the UK but it is in the future potential of the area, where we are seeing some stellar projections.  We’re looking at a 1.9% growth in GVA reaching more than £176bn over the next 30 years *3."

Hilary Chipping, Chief Executive, SEMLEP said, “Our area’s nationally significant industry clusters are recognised by government as the springboard for the Growth Corridor to lead the way globally in key high-tech sectors, science and innovation. 

“The strong partnership across the Corridor, working at MIPIM together this year, is a great platform to set out our clear welcome to investors. The Central Area, at the heart of the corridor has a distinct role as a test bed for the new technology that will lead Britain’s future growth. We have an impressive record on commercialisation of R&D and, with investment in the right supporting infrastructure, we can harness expertise from across the Corridor and our cutting edge, high tech businesses, to drive growth locally for the benefit of the whole country.” 

Nigel Tipple, Chief Executive of OxLEP, said, “Leveraging the two internationally-renowned cities of Oxford and Cambridge – on a global scale – will not only support the UK economy to make the most of what this wider region has to offer in terms of growth and productivity, but so is the need to emphasise the ‘place potential’ offered right across the Corridor, ensuring that ‘UK PLC’ can capitalise on all the economic strengths of the region.”

Productivity per person employed in the Growth Corridor is forecast to almost double, rising to £81,000 person employed, by 2050*3, with ‘household name’ occupiers and organisations such as Astra Zeneca, BMW, Lockheed Martin, Pinewood Studios, Amazon and Mahle, and world class research establishments and business parks including Cranfield University & Technology Park, Silverstone Technology Park, Millbrook Technology Park, the Universities of Oxford and Cambridge and Culham Science Centre, all located in the Corridor.

The Growth Corridor will be appearing on Stands E09-F10 at MIPIM UK, 17-18 October, Olympia.  Events will be hosted on stand and in the Showcase area.

If you would like to be involved with the Growth Corridor stand, discounted tickets are available.  For more information, please get in touch. 

*1 The Councils, LEPs and other partners participating at MIPIM UK this year are: 

The Central Area which includes the following Councils: Central Bedfordshire, South Northants, Cherwell, Bedford, Aylesbury Vale, Milton Keynes, Luton, East Northants and Daventry

South East Midlands LEP (SEMLEP)

Oxfordshire LEP (OXLEP)

Buckinghamshire County Council

Buckinghamshire Thames Valley LEP (BTVLEP)

England’s Economic Heartland

Supporting partners:

UK Business Council for Sustainable Development

Bidwells

Development Communications

*2 Irwin Mitchell UK Powerhouse – City Growth Tracker Summer 2018

*3  National Infrastructure Commission Report, November 2016, Cambridge Econometrics