Warrington Economy Shines in Annual Report
The latest Centre for Cities 2018 report shows that Warrington is once again powering the northern economy and proving a beneficial place in which to start and grow a business.
Although technically a town, Warrington is included in the list of 63 UK cities due to its current population of 207,000. Even despite its size, the Cheshire town is punching well above its weight in terms of jobs, economic performance and future outlook.
The report found that Warrington’s economy continues to perform strongly -- both on a national level and when compared against other Northern cities. Key highlights include:
- Warrington has the highest GVA in the North of England with an average of £49,400.
- It is 8th highest in the UK in terms of the number of private to public sector jobs.
- The Cheshire town is the only urban economy in the North to feature in the nationwide top 10.
- Warrington ranks 5th out of all UK cities for high-skill private sector occupations that are likely to grow over the next decade.
What’s more, having finished 6th nationally in the section - ‘Cities and jobs likely to see an increase in demand to 2030’ - it’s clear that Warrington is considered an excellent location in which to start or grow a business.
Commenting on the findings, Cllr Terry O’Neill, leader of Warrington Borough Council said: “The Centre for Cities annual statistics are a useful, independent, barometer of economic performance for our major urban areas and once again it is good to see Warrington performing so well.”
He added that Warrington must now maintain and continue strengthening its favourable position in order to “build a vibrant and diverse economy”, as part of the council’s ‘Warrington Means Business’ growth initiative.
Last year, Cllr O’Neill commented that Warrington’s economy “continues to boom” during the release of the 19th Annual Warrington Property Review, which found healthy development in the town centre and outlying regions including Birchwood, thanks to high levels of investment and various initiatives such as Birchwood Enterprise Zone and the Cheshire Science Corridor.
The Centre for Cities findings suggest that the trajectory of Warrington’s economy continues to look strong on a national scale, paving the way for future growth and investment opportunities.
What’s more, this year’s report took a particular focus on the rise of automation. It analysed which UK cities are most likely -- if at all -- to lose jobs to automotive technology. Positively, the report found that “all cities are likely to see an increase in jobs across both the public and private sectors, thus replacing any jobs lost to new technology”, with those in the strongest economic position -- such as Warrington -- most likely to prosper in the immediate future.
Steve Park, Managing Director of Warrington & Co., said: “Warrington is in an enviable economic position and it is encouraging to see these predictions to 2030. The Warrington economy has traditionally been one of resilience and of embracing change and I see no sign of that changing.”
Warrington has long had a close affinity with business growth and is continuing to play a vital role in the development of the Northern Powerhouse. With excellent transport connections and an accessible location between Liverpool and Manchester, Warrington acts as a gateway to the North West and provides small businesses with a prime location in which they can thrive and grow.
If you're looking to start or expand a business in the North West, take a look at our serviced offices in Birchwood, Warrington, to find out how we can help your business grow.