Worcestershire named most productive LEP area in England
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WORCESTERSHIRE’S productivity growth has been the highest in England, according to new data.
The most recent statistics released by the Office of National Statistics (ONS), show that Worcestershire’s productivity grew by 2.7% between 2012-13, the fastest rate out of all 39 of the Local Enterprise Partnership areas.
The ONS Subregional Productivity report shows that productivity, which in this case is measured by GVA per hour worked, in the county exceeded other areas.
The county LEP said GVA per hour worked indicated how efficiently the labour force created market-ready goods and services. This measure is strongly linked with business innovation and growth, as well as investment in skills and infrastructure.
The LEP said Worcestershire remained ambitious to achieve further economic growth and during October profiled from a strong presence at the MIPIM UK exhibition.
Business Secretary – and Bromsgrove MP – Sajid Javid was guest speaker at the LEP’s annual meeting.
He said: “The Government is committed to making the Midlands an engine for growth and Worcestershire is leading the way with the highest rise in productivity of anywhere in England. With high employment rates, a strong skills base, and plenty of local support businesses are well placed to grow and create jobs.”
Gary Woodman, Executive Director of Worcestershire LEP, said: “The fact that Worcestershire is leading the way nationally in terms of productivity growth is the latest in a string of fantastic achievements for the county.
“All partner organisations are committed to delivering our 10-year Strategic Economic Plan to achieve a GVA growth of £2.9bn and 25,000 jobs by 2025 and we remain confident in our aims. All partners in the Local Enterprise Partnership recognise the challenges we still face to bring even greater economic growth in the coming years and today’s announcement shows the great strides that have already been taken.”