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Preston rated as a city of ‘good growth’ by latest economic survey

Posted on - 18th November, 2013 - 7:00pm | Author - | Posted in - Business, News, Politics
Preston is in the fast-lane for growth, and its transport links are part of the reason why

Preston is in the fast-lane for growth, and its transport links are part of the reason why

Preston has been rated as one of the best cities in the UK for economic growth.

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The latest survey by accountants Pricewaterhouse Coopers finds Preston and its surrounding areas as seventh best, above cities like Bristol, Belfast and Norwich.

The Good Growth for Cities Index 2013 looks at economic success, jobs, health, income and skills.

Preston was rated at 0.35, just behind academic powerhouses of Oxford and Cambridge.

John Hawksworth, chief UK economist at PwC, said: “Our analysis demonstrates that there is a rising price for economic success for many of the largest UK cities. Increased congestion, pollution, income inequality and high house prices contribute to rankings in the index below that expected based on traditional GVA measures. Medium sized cities with better quality of life tend to score better on our index based on what the public says is important to them.”

Paul Cleal, head of government and public sector at PwC, said: “Good growth is in everyone’s interest. And to support good growth we need good jobs, ones that give satisfaction, pride in doing good work, meaning (such as contribution to the community), an opportunity for career progression, flexibility (work-life balance) and income sufficient to live on, ideally with a little left over!

“Public sector organisations at all levels, particularly in our cities, have an important role to play in creating a platform for growth through a focus on the key levers of skills, infrastructure and innovation.”

Preston City Council have welcomed the report, saying it backs up the awarding of the City Deal cash to the city and surrounding area.

Councillor Peter Rankin, leader of the city council, said: “We welcome the recognition of Preston’s strengths and potential and this news comes on the heels of the government’s recognition and support through the Preston City Deal.

“Preston is keen to work with others to develop real economic growth and to share the benefits of that growth as widely as possible.

“As a founder member of the ‘Key Cities Group’ of mid-sized cities, we are also keen to work with other similar sized cities to establish a collective voice which will have a real impact on the well-being of the country.”

What do you think? Is Preston a good place to do business? Let us know in the comments below

Image credit to Steve Hodgson

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