Derby has been ranked amongst the elite at the top of a new league table in a UK Powerhouse City Growth Tracker report sitting between Cambridge (1st) and Oxford (3rd).
The report compares the growth of 45 UK cities in annual gross value added (GVA) in Q4 2017 – the value generated by the production of goods and services.
With a year-on-year growth of 1.8% Derby has proven itself as the rising star of the Midlands.
The report also shows that in the same period the manufacturing sector in the UK grew by 1.3% buoyed by booming global trade volumes. Global manufacturers Bombardier, Rolls-Royce and Toyota Manufacturing UK are based within Derby and Derbyshire, which together employ over 20,000 have enjoyed a competitive export advantage from the weak pound in 2017 boosting production.
John Forkin, Managing Director of Marketing Derby said: “The strength of Derby’s economy is core to the city’s investment pitch and whilst there is no one league table that acts as a silver bullet we are always there or thereabouts.
Many may be surprised to see Derby sitting between Cambridge and Oxford but when you consider the hi-tech and advanced nature of our economy this should come as no shock.”