{"id":89191,"date":"2021-02-18T09:25:43","date_gmt":"2021-02-18T09:25:43","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=89191"},"modified":"2021-02-18T09:25:43","modified_gmt":"2021-02-18T09:25:43","slug":"oxford-cambridge-economic","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/oxford-cambridge-economic\/89191\/","title":{"rendered":"Government unveils ambitious plan for Oxford-Cambridge Arc"},"content":{"rendered":"<h2>The government has unveiled an ambitious plan for the <a href=\"https:\/\/www.gov.uk\/guidance\/oxford-cambridge-arc#what-is-the-arc\" target=\"_blank\" rel=\"noopener noreferrer\">Oxford-Cambridge Arc<\/a> that will help to create thousands of jobs, drive investment, protect and enhance the environment, announced by housing minister, Christopher Pincher<\/h2>\n<p>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 <a href=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/oxford-cambridge-arc-3\/75311\/\" target=\"_blank\" rel=\"noopener noreferrer\">benefits of growth are felt across the region<\/a>.<\/p>\n<p>The intention to establish an Arc Growth Body will also help unleash the area\u2019s potential as a <a href=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/oxford-cambridge-arc-4\/87332\/\" target=\"_blank\" rel=\"noopener noreferrer\">global innovation powerhouse<\/a> by promoting the Arc internationally.<\/p>\n<p>With the right interventions and investment, local analysis suggests that by 2050 economic output could double to over \u00a3200bn.<\/p>\n<p>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.<\/p>\n<p>The Arc already is home to over 2 million jobs and provides a place to live for over 3.7 million residents.<\/p>\n<p>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\u00a0<a href=\"https:\/\/www.gov.uk\/government\/topical-events\/plan-for-jobs\" target=\"_blank\" rel=\"noopener noreferrer\">Plan for Jobs<\/a>\u00a0to protect, support and create employment.<\/p>\n<h3>Unprecedented opportunities to create jobs<\/h3>\n<p>Christopher Pincher, said: \u201cThe Oxford-Cambridge Arc is already home to world-leading economic, cultural and scientific assets.<\/p>\n<p>\u201cWe know for instance Cambridge\u2019s rate of patent applications \u2013 a key indicator of innovation \u2013 is the highest in the United Kingdom, while nearby Milton Keynes is the fastest growing city in the country.<\/p>\n<p>\u201cThe\u00a0OxCam\u00a0spatial framework\u00a0will\u00a0allow us to plan positively for growth\u00a0and we look forward to working with\u00a0our local partners\u00a0over the coming months to strengthen our vision and approach to the Arc.\u201d<\/p>\n<p>Patrick McMahon, senior partner,\u00a0<a href=\"https:\/\/www.bidwells.co.uk\/\" target=\"_blank\" rel=\"noopener noreferrer\">Bidwells<\/a>, commented: \u201cMinisters should be applauded for moving swiftly to recognise the critical economic need behind strategic investment into the Arc.<\/p>\n<p>\u201cThis framework will be a vital jab of confidence into the arms of investors at a critical time.<\/p>\n<p>\u201cMany global investors are eyeing up Britain right now, <a href=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/from-covid-to-brexit\/86564\/\" target=\"_blank\" rel=\"noopener noreferrer\">post-Brexit<\/a>, wondering just how open we are for business.<\/p>\n<p>\u201cThe Arc has led the UK\u2019s economic response to the Covid-19 via its ability to preserve and create employment <a href=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/resilient-covid-19-recovery\/76939\/\" target=\"_blank\" rel=\"noopener noreferrer\">opportunities post-covid-19<\/a>, post-Brexit, the Arc will play a crucial role in promoting Britain\u2019s role as a global exporter of innovation.\u201d<\/p>\n<p>Steven Charlton, principal and managing director,\u00a0<a href=\"https:\/\/perkinswill.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Perkins&amp;Will<\/a>, added: \u201cThe 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.<\/p>\n<p>\u201cOur 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.\u201d<\/p>\n<div 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