Latest News | 24 May 2023

Derby proves best all-rounder in new growth report

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Derby has been named as the best ‘all-rounder’ in the region when it comes to growth, according to a new report compiled by PwC.

Its latest Good Growth for Cities Index found that Derby was the only location in the East Midlands to have just one indicator highlighted for improvement, concluding that the city was “experiencing overall good growth”.

The report also found that the city is performing above the UK average on jobs, transport, skills in over 25s, income distribution and safety indicators.

Its performance has led to Derby being ranked 24th overall in the study of 50 locations – the second highest placing in the East Midlands.

Overall, the report found that the East Midlands as a whole was performing well against many key indicators.

Alex Hudson, market senior partner for PwC East Midlands, said: “The outlook in the East Midlands is a positive one, and it’s pleasing to see our cities generally faring well in our analysis this year.

“Aligned with the Government’s Levelling Up agenda, local government and employers have a part to play in providing opportunities for people to grow their businesses, careers and skills right across the region.”

The annual Good Growth for Cities Index looks beyond GDP and covers broad economic measures.

These include jobs, health, income, safety and skills, as well as work-life balance, housing, travel-to-work times, income equality, high street shops, environment and business start-ups.

On Derby, the report said: “The city performs above the UK average on jobs, transport, skills in over 25s, income distribution and safety indicators, and is in line with the UK average on income, health, work-life balance, skills for 16-24 year olds, affordability of housing, the environment and high streets.

“The only area for improvement is new businesses and Derby is the only East Midlands city to have just one indicator highlighted for improvement, showing that the city is experiencing overall good growth.”

Derby was the second highest ranked East Midlands city, behind Leicester (16th) but ahead of Nottingham (36th).

Alex Hudson said: “The 2022 PwC economic outlook analysis showed that the region’s economic output remained around 3.3% smaller than pre-pandemic levels and identified the Midlands as one of the regions with the most potential for growth.

“One of the ways we will achieve sustained improvements in our economy in the East Midlands is continued investment in automotive and aerospace, medical and agriculture technologies that will provide economic benefits and opportunities for growth.

“PwC is continually investing in the East Midlands, using our convening power to bring together businesses and government to make positive changes for the region.

“Working collaboratively and focussing on some key areas for growth, such as the skills agenda, will lead to improvement across the board for the region.”

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