Oxfordshire is a globally-renowned region with one of the strongest economies in the UK, and a successful record in securing investment to promote growth.
-Oxfordshire is one of three net contributors to the national exchequer, generating approximately £22 billion Gross Value Added (GVA) to the UK economy.
-Oxfordshire is one of the most competitive Local Enterprise Partnership areas in the country as well as the fastest growing, with over 40,000 new private sector jobs since 2011.
-Oxford University is the 2018 Times Higher Education number one-ranked university in the world. The university contributes £5.8 billion to the UK economy and generates more technology spin-outs than any other UK university
Oxfordshire is home to 1,500 high tech firms.
-Science Vale UK has the highest concentration of science research facilities and development activity in Western Europe.
-Harwell Campus is home to the largest space cluster in Europe.
-Oxfordshire has been designated as a scale up ‘Creative Industries Hotspot’.
-Oxfordshire is at the heart of one of the largest and most successful life sciences clusters in Europe.
– Oxfordshire is a centre for Formula 1 innovation.
-Oxfordshire attracts around seven million people each year, including significant numbers of international visitors.
We have already secured significant funding to build on Oxfordshire’s strengths and promote growth
City Deal and Local Growth Funds: We have secured over £200m of central government funds for Oxfordshire through these deals. This investment will create 25,000 jobs and 11,500 homes by 2021.
Housing and Growth Deal: In Autumn 2017 Oxfordshire partners secured a further £215m for Oxfordshire. This deal will provide £60m for affordable housing and £150m for infrastructure improvements, to support delivery of 100,000 new homes by 2031.
Developing a Local Industrial Strategy is a huge opportunity for you, and the whole of Oxfordshire. Oxfordshire has been invited by Government to develop a Local Industrial Strategy. This is a huge opportunity to build an ambitious programme for long-term economic growth. Developing the strategy and securing the associated investment will initiate a new and exciting period of successful and sustainable growth for Oxfordshire. Exciting areas of growth we could use this opportunity to focus on include:
Global Oxfordshire We could build on Oxfordshire’s already strong international profile to boost inward investment and exports, positioning Oxfordshire as a global competitor to attract and retain talent.
World-class innovation ecosystem We could invest in Oxfordshire’s innovation ecosystem, home to assets such as our science and technology clusters. We could support SME growth, invest in new innovation sectors with high growth potential, and invest in the business and research space we need to be at the forefront of innovation in these areas.
Attract and nurture talent We could invest in our people, attracting and nurturing talent in the existing workforce and promoting Oxfordshire as a great place to both work and live. We can invest in building a sustainable workforce for the future, creating skills pathways and aligning skills to sector needs.
Oxford-Cambridge Growth Corridor We could develop the Ox-Cam Corridor, the UK’s ‘Silicon Valley’. This would support new jobs and homes as well as connect the knowledge and innovation economies of Oxfordshire and Cambridge, igniting growth across the UK.
Our vision is for Oxfordshire to be one of the top three global innovation ecosystems by 2040. Developing our Local Industrial Strategy is a critical step to achieving this vision.