Fast-growing Peterborough is well placed to deal with Brexit

Peterborough has been named as the fourth fastest growing city in the UK.   NGEMN00120120803143908

Peterborough has been named as the fourth fastest growing city in the UK. NGEMN00120120803143908

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Peterborough is the UK’s fourth fastest growing city and looks to be well placed to deal with the challenges of Brexit, according to a new report.

Research group Centre for Cities says Peterborough is the fourth fastest growing city in the UK out of 64 cities including in its Cities Outlook survey.

The figures compare 2014 with 2015 and show the city’s population rose by 3,500 to 194,000 in 2015 - a growth rate of 1.8 per cent. It was beaten by Cambridge, Coventry and Exeter.

Peterborough was above average for the value of exports per job at £16,310 placing the city in 20th position.

However, the report also found the city was below average for productivity levels.

Peterborough was placed seventh for the growth in real wages - up 5.1 per cent.

Steve Bowyer, chief executive of economic development company Opportunity Peterborough, said: “It’s great to see Peterborough performing above the national average for the number of exports we deliver per job, and this aligns well with the government’s strategy in response to Brexit.

“Despite our high rank for exporting, the city does, however, have a slightly lower than average productivity level - although this is shared by many other UK cities – which is something we’d like to support local businesses to improve on.

“It’s why we’ve been focusing on skills development, through the Opportunity Peterborough Skills Service, innovation and, of course, the University of Peterborough.

“The most important perspective from this report is that Peterborough is maintaining its position, where other cities have dropped back.

“We have a solid base in many facets but we need to build on these strengths to tackle the challenges we do face.”