The government has unveiled an ambitious plan for the Oxford-Cambridge Arc that will help to create thousands of jobs, drive investment, protect and enhance the environment, announced by housing minister, Christopher Pincher
The results, due to be published in 2022, will give communities a chance to shape the long-term future of their area and will help to ensure the benefits of growth are felt across the region.
The intention to establish an Arc Growth Body will also help unleash the area’s potential as a global innovation powerhouse by promoting the Arc internationally.
With the right interventions and investment, local analysis suggests that by 2050 economic output could double to over £200bn.
To realise the full potential of local economies and the Arc as a whole, the government is also considering how further investment could create jobs, support the delivery of more homes, and support local economic growth.
The Arc already is home to over 2 million jobs and provides a place to live for over 3.7 million residents.
This regional success will build on the work of the government that has helped millions of people continue to provide for their families as part of its Plan for Jobs to protect, support and create employment.
Unprecedented opportunities to create jobs
Christopher Pincher, said: “The Oxford-Cambridge Arc is already home to world-leading economic, cultural and scientific assets.
“We know for instance Cambridge’s rate of patent applications – a key indicator of innovation – is the highest in the United Kingdom, while nearby Milton Keynes is the fastest growing city in the country.
“The OxCam spatial framework will allow us to plan positively for growth and we look forward to working with our local partners over the coming months to strengthen our vision and approach to the Arc.”
Patrick McMahon, senior partner, Bidwells, commented: “Ministers should be applauded for moving swiftly to recognise the critical economic need behind strategic investment into the Arc.
“This framework will be a vital jab of confidence into the arms of investors at a critical time.
“Many global investors are eyeing up Britain right now, post-Brexit, wondering just how open we are for business.
“The Arc has led the UK’s economic response to the Covid-19 via its ability to preserve and create employment opportunities post-covid-19, post-Brexit, the Arc will play a crucial role in promoting Britain’s role as a global exporter of innovation.”
Steven Charlton, principal and managing director, Perkins&Will, added: “The scale of the opportunity here is vast but it requires strategic thinking and ministers are doing precisely the right thing by thinking big, utilising data and working to harvest investment that is queuing up to fund life sciences and build labs.
“Our work to analyse investment and scale-ups across the region shows there are unprecedented opportunities to create jobs and spread out the recovery across cities like Milton Keynes and Norwich.”
