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Remarkable economics statistics for Milton Keynes in 2012

The latest Duport Business Confidence Report reveals that Milton Keynes broke several economic records during 2012, signalling an economy that is doing well in the face of tough financial conditions.
The latest Duport Business Confidence Report reveals that Milton Keynes broke several economic records during 2012, signalling an economy that is doing well in the face of tough financial conditions.

A total of 2725 companies were formed which was more than any other year in the history of the city and a 13% rise on the previous year! this, combined with a fall in company closures, led to a record year for net company growth. Success should continue into 2013 with news of accountancy firm PwC predicting GDP growth in the region to reach 1.8 per cent this year, the highest growth outside Greater London and the South East where the recovery is strongest.

Managing Director of Duport.co.uk, Peter Valaitis said: “Milton Keynes is becoming a very significant economic hub, as the statistics in our report attest. “The record number of new companies setting up here will diversify and strengthen the economic base, helping the area gain further momentum in years to come.”

The Duport Business Confidence Report for Milton Keynes contains a variety of data that gives an insight into the local economy. More information and statistics can be found at http://www.duport.co.uk/miltonkeynes

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Techs lead Milton Keynes Revival

A pool of highly skilled labour and good transport connections are driving “a high-tech renaissance” in Milton Keynes, according to David Renwick.
Techs lead Milton Keynes revival

A pool of highly skilled labour and good transport connections are driving “a high-tech renaissance” in Milton Keynes, according to David Renwick. Mr Renwick is innovation director at AirWatch, a global mobile device management company which has chosen the Buckinghamshire town lying 45 miles northwest of London as its European headquarters, expanding from a dozen employees to 150 in the space of a year. “It’s not easy finding and bringing on board that number of people in such a short time – but it’s been possible to do it here.”

http://www.ft.com/cms/s/0/58d74174-7381-11e2-9e92-00144feabdc0.html#axzz2Qp7wvG2V

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Milton Keynes is the best place to do business... and thats official!

Milton Keynes has been named the best place in England 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 local authority areas in England.
Milton Keynes has been named the best place in England 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 local authority areas 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.

Milton Keynes was singled out for having a large and growing skilled local workforce, for the number of people working in high tech ‘knowledge businesses’, and for having plenty of available commercial floorspace, as well as for its high productivity, and for the number of new businesses being established.

There are now more than 11,000 firms based in Milton Keynes, and the borough has one of the highest business start-up rates in the UK. 1,360 new companies were established in 2011 and five companies move to or expand in Milton Keynes every month.

Cllr David Hopkins, the council’s cabinet member for economic development and enterprise, said:

“The message is very straightforward – if you want to learn, get a job, start or relocate a business and prosper – come to Milton Keynes.

“People who have invested in Milton Keynes say they are attracted by our ‘can do’ attitude as well as our prime location, great facilities and skilled workforce. It’s no wonder that major employers like John Lewis are choosing to invest here. They are opening a second distribution centre, and we’ve working with other big names to attract them to the borough.”

Chief Executive David Hill added: “People and businesses in Milton Keynes have always known that it’s a great place to live and work. But it’s great to see that objectively recognised by the statistical analysis from the Local Futures survey.”

Full details of the Index can be found at:

http://www.localfutures.com/InwardInvestment.aspx

Further comments:
Local MPs Iain Stewart and Mark Lancaster were also very pleased with the report.

• Mr Stewart said: “I am delighted with the findings of this report. It further confirms that Milton Keynes is open for business. Whilst we have ensured that the skills required by employers are available locally, we should continue to engage with them on their future skills requirements so that our city remains the best place to do business.”

• Mr Lancaster added: “Having visited many businesses in our city it is no surprise to me that we have done so well. I am delighted to see Milton Keynes on the map as the best place to do business in and whilst we must not be complacent and work hard to remain amongst the best, I hope we continue to maintain this fantastic position for a long time.”

• Liberal Democrat Group Leader Cllr Douglas McCall said: “Milton Keynes is a great place to work and to live, with all our green open spaces, I’m not surprised that companies want to relocate here”.

• Labour Group Leader Cllr Norman Miles said: “I came to Milton Keynes in 1978 expecting to stay here perhaps two years. I’m still here, 35 years later. Milton Keynes is a great place to live, work, relax and bring up a family. No wonder so many businesses want to come here”

• Liberal Democrat Group Leader Cllr Douglas McCall said: “Milton Keynes is a great place to work and to live, with all our green open spaces, I’m not surprised that companies want to relocate here”.

• Terry Murphy, Head of National Distribution Centres for John Lewis, said:

"John Lewis has a major presence in Milton Keynes - we have recently announced that we will be creating a further 450 jobs with the development of a second distribution centre and our recently refurbished shop in the town has been trading for over 30 years. It's a great location for our business with fantastic connectivity and a skilled community who can support our growth."

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Milton Keynes confirmed as part of 'City Deals' programme

Milton Keynes has been confirmed as one of the front runners in the Government’s City Deals programme that will see powers devolved to local areas in exchange for innovative approaches to boosting the local economy. Last summer, eight of England’s largest cities confirmed deals with the Government to boost local growth.
Milton Keynes has been confirmed as one of the front runners in the Government’s City Deals programme that will see powers devolved to local areas in exchange for innovative approaches to boosting the local economy.
Last summer, eight of England’s largest cities confirmed deals with the Government to boost local growth.

Now Milton Keynes is one of 20 more cities will get the green light to go ahead and negotiate plans to get the freedom, powers and tools needed to shape their economic future.

City Deals was launched in a competitive format by the Government last year. The idea was that local authorities had to make a credible case to be involved in a series of unique deals which will help deliver new homes, create jobs, improve skills, and improve local infrastructure.

The deals will be reached between Government and cities so that local areas can bid for new powers that will enable them to grow. In return for cities’ strong plans for growth the government will devolve financial and planning powers to let cities take charge of their own destinies – from autonomy over how to spend their training and skills budgets, to creating local investment funds to build roads and unlock developments.

Yesterday (Mon 18th) the Deputy Prime Minister Nick Clegg confirmed Milton Keynes as one of front runners to benefit from a City Deal.

Milton Keynes Council Leader Andrew Geary said: “This is fantastic news – but I believe it’s what Milton Keynes deserves. Now we have to get down to the real ‘nitty gritty’ and drill down into how we make the ‘Milton Keynes Deal’ work.

“Milton Keynes and a significant number of authorities within the South East Midlands Local Enterprise Partnership area have worked hard to make this happen, and the opportunity for us to work together with our neighbours with whom we share not just a geographic boundary but also a functional economic synergy for the greater good of all of us is indeed an opportunity that must be grasped and embraced.”

“Our deal proposal is based on delivering the new homes and associated jobs outlined in our Core Strategies and Development Plans.

“Any deal should recognise that making Milton Keynes even more attractive as a business location must come with additional benefits. In particular, we want to be able to retain locally more of the financial benefit from building homes and creating more jobs so we can ensure Milton Keynes remains a high quality place for both residents and investors. We will negotiate hard with government as we will not want to strike a deal unless it delivers what we believe is best for Milton Keynes.”

The next stage is to develop more proposals with government departments over the next few months.

These will then be the subject of negotiations with a panel of government ministers during the summer.

Milton Keynes is already on track to take more control of its local growth agenda, having recently acquired the land assets from the Homes and Communities Agency. It also took control of the vitally important Milton Keynes Tariff, a requirement of developers to pay a sum of money each time they build, which goes towards identified strategic infrastructure improvements.

Background note for editors:


In July 2012, Government agreed the first wave of city deals with the eight largest cities outside London and their wider economic areas. These agreements were bespoke to reflect the different needs of individual places, but every deal aimed to:
• Give cities the powers and tools they need to drive local economic growth
• Unlock projects or initiatives that will boost their economies; and
• Strengthen the governance arrangements of each city.
Each and every deal represented a genuine transaction – with both cities and Government offering and demanding things in return.
Wave 2
Milton Keynes was one of 20 areas which was invited to bring forward proposals for a second wave of city deals.
The 20 cities are: the Black Country, Bournemouth and Poole, Brighton and Hove, Greater Cambridge, Coventry and Warwickshire, Hull and Humber, Ipswich, Leicester and Leicestershire, Milton Keynes and the South East Midlands, Greater Norwich, Oxford and Oxfordshire, Reading and Central Berkshire, Plymouth, Preston, Southampton and Portsmouth, Southend and Thames Gateway South Essex, Stoke and Staffordshire, Sunderland and the North East, Swindon and Wiltshire, and Tees Valley.
Bespoke deals will be complemented by a core package that will be developed and made available to all cities by March 2013.

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Milton Keynes scores fourth time in a row in latest Centre for Cities report

MILTON Keynes has once again been highly praised in an annual ‘health check’ of towns and cities around the country from renowned independent think tank, the Centre for Cities.
MILTON Keynes has once again been highly praised in an annual ‘health check’ of towns and cities around the country from renowned independent think tank, the Centre for Cities.

For the fourth year in a row, Milton Keynes has received a glowing report for its economic strength and overall buoyancy in the face of harsh economic conditions, in the annual Cities Outlook report.

Milton Keynes has previously been identified as ‘one to watch’ by the Centre for Cities in its last three reports in 2012, 2011 and 2010.

This year the borough is singled out as having the right strategy for building new homes and for creating new jobs, as well as for having one of the highest business start-up rates in the UK, ranked fourth only after London, Aberdeen and Reading.

Milton Keynes is also recognised as having one of the highest rates of employment, with one of highest percentages of private sector jobs, and for high growth in earnings, with average pay in 2012 standing at £543 per week.

Milton Keynes remains the fastest growing place in the UK for population growth, growing by nearly 17% between 2001 and 2011. That growth has been matched by the increase in housing stock, which has risen by 18% in the same time period. This represents the highest percentage growth in new homes of all the 64 cities covered by the report.

The Cities Outlook report is the latest in a series of reports describing Milton Keynes’ economic success. In late 2012, global information services company Experian judged Milton Keynes as leading the way in UK economic recovery, and research firm Local Futures named the borough as the most attractive local authority area for business investment.

Milton Keynes Council Chief Executive, David Hill said: “Maintaining Milton Keynes’ economic success is a very important part of the council’s work, and this report shows we’re getting the balance right for local people and businesses.

“Inward investment is vital to our continued success, and with the recent acquisition of the HCA assets – as well as the transfer of responsibility for the Milton Keynes Tariff - we have the tools to promote and sustain growth in both housing and jobs. We remain determined to provide a value for money council and deliver high quality services, alongside developing Milton Keynes as an attractive and prosperous place to live and work.”

Councillor David Hopkins, Cabinet Member responsible for the economy, added: “The annual Centre for Cities report carries a great deal of weight and credibility in business as well as in the world of local government.

“To be mentioned yet again in such positive terms is high praise indeed, and is testament to the strength of Milton Keynes as a place to prosper in, and to invest in.

“We continue to be recognised as an economic powerhouse by the experts - not just at local and national level, but also internationally.”

Please click this link to view the full report .

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