GOOD GROWTH FOR CITIES REPORT HIGHLIGHTS OXFORD’S ECONOMIC RESILIENCE

The latest Good Growth for Cities report, published by PwC, has revealed Oxford’s economic resilience despite the pressures of the COVID-19 pandemic.

The report, which looks into the economic impact of coronavirus on local and regional economies across the UK, highlighted how several cities – including Oxford – have benefited from a sectoral mix with its performance on broader economic and social indicators helping to provide resilience.

Good Growth for Cities measures the performance of the UK’s largest cities against 10 indicators that the public think are most important when it comes to economic wellbeing. The Index was developed by PwC and the think tank

Demos in the aftermath of the financial crisis in response to the sense that we need to look beyond GDP headlines to measure economic success.

In the report’s index of cities, Oxford increased its lead in first place. The report stated that “Oxford performs particularly strongly in jobs, income, health and skills of the adult population, scoring within the top five cities for each of these variables”.

One further piece of analysis showed scores for the 38 Local Enterprise Partnership areas in England, with Oxfordshire coming in second place, only being tipped to the top by Buckinghamshire Thames Valley Local Enterprise Partnership.

Oxford Brookes Uni Launches Digilab To Help Businesses Close Gap

A new research centre involving three academics from Oxford Brookes Business School will help large organisations adapt to the rapid pace of digital transformation in society.

The DIGIT (Digital Innovation for Growth, Impact and Transformation (DIGIT) Lab has been announced as one of six new national Next Stage Digital Economy Centres by the Engineering and Physical Sciences Research Council (EPRSC).

Almost £12 million is being invested in centres over five years, including more than £5 million from industry partners and a £3.6 million investment from EPRSC.

Led by the University of Exeter Business School, the DIGIT Lab will work with large established organisations to reimagine them for the digital age.

£760 MILLION FOR DELIVERY OF OXFORD-CAMBRIDGE ARC RAIL ROUTE

The government has announced £760 million funding for the delivery of the next phase of East West Rail, which will create 1,500 skilled jobs, and reinstate direct rail services between Bicester and Bletchley for the first time since 1968.

Barry Wood, Chair of the Oxford-Cambridge Arc Leadership Group and Leader of Cherwell District Council, said: “This investment announcement demonstrates the government’s commitment to improved East-West links to enhance the connectivity of our towns and cities across the Arc.

“Progress with this Bicester to Bletchley section is a further step towards completing East West Rail, identified as key piece of infrastructure that will help unlock greater economic opportunity for our fast-growing region. It will bring significant benefits to local communities, giving increased choice for people wanting to travel more quickly and sustainably to local jobs, education and for leisure.”

This phase of the project will include the construction of a new station at Winslow and as well as enhancements to existing stations along the route, including Bletchley. By 2025, two trains per hour will run between Oxford and Milton Keynes via Bletchley.