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Friday, July 18, 2008, 08:00
Swindon, Gloucester and Bristol all make the top 10 in a league table compiled by the Work Foundation's study of how the UK is moving to a “knowledge economy”.
The report says between 1995 and 2005 every new job in other industries has been matched by 12 new jobs in knowledge industries – which cover everything from financial and professional services to hi-tech manufacturing. The table ranks towns and cities by the amount they contribute per capita to the UK economy.
Its findings show Swindon is the fourth most productive town or city in the country, trailing only the world's leading university towns Oxford and Cambridge and its M4 neighbour Reading – and ahead of London in sixth place.
The Wiltshire town is labelled an “enterprise powerhouse” by the report due to its strong private sector and high productivity.
Swindon has long been an attractive home for business thanks to its combination of competitive rents with good road and rail links to London and the South East.
Honda UK and Burmah Castrol's headquarters there epitomise the town's traditional links with the motor industry, and more recently it has become a magnet for hi-tech firms such as Intel and National Semiconductor.
The Nationwide Building Society and WHSmith are also based in Swindon.
Gloucester comes in eighth place, two ahead of Bristol, and is described as a “knowledge hub” with a strong public sector alongside a thriving knowledge economy.
Nuclear power operator British Energy, engineering specialist Poeton, Permally and Messier-Dowty, hi-tech innovator Message Labs and optical device maker Norville all co-exist in the Gloucester area to make it one of the nation's most profitable knowledge centres for its size.
Bristol and Gloucester are among ten cities that have grown their productivity by more than 70 per cent in a decade.
Tenth placed Bristol is termed an “enterprise engine” where a growing private sector is stimulating increased economic performance. Bristol's knowledge sector accounts for 65 per cent of employment – which must have been a big factor in this week's success attracting thousands of jobs to the city in major new projects unveiled by Bristol Zoo and the Ministry of Defence.
Associate director at the Work Foundation Alexandra Jones said: “In time, higher productivity should feed through to rising prosperity, a better quality of life and the ability to attract more highly skilled people.
“The table points to the places that are becoming the engines of national economic performance – and which need sustained policy attention to help them grow,” she added.
Swindon - the former railway town is booming
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