Stockport has been named the top performer for economic growth in the North West region according to a new report.
The UK Powerhouse Study produced by Irwin Mitchell and the Centre for Economics and Business Research (Cebr) examines levels of GVA growth within 45 of the UK’s largest towns and cities. The research shows Stockport was the top location in the North West in terms of GVA growth during the last quarter of 2017 – with expected growth rates of 1.3%.
This places Stockport ahead of all other North W
However, the report also looks into the potential for future growth of major UK conurbations by 2028. According to this measure, Stockport again stood out as top of the table in the North West region with growth rates exceeding Liverpool and Manchester.
Initiatives which were singled out for helping give Stockport the edge include the 2017 launch of ‘Ready to Grow’ – a £40,000 investment scheme which seeks to encourage entrepreneurship and provide support for emerging businesses.
This adds to recent positive data from the CoStar performance index which has ranked Stockport as second only to Reading for office occupier activity in 2017, with over 360,000 sq ft let or sold in Stockport over the last two years.
Commenting on the news, Stockport’s Labour Council Leader, Alex Ganotis, said:
“The news that Stockport has the fastest growing Economy in the North West of England is highly welcome for our residents, our businesses and for the future of our Borough. We have worked hard on our approach to improving the Local Economy, and it is great to see this bearing results.
“The Council is making significant investments in improving the economic potential of the Borough, and as an Administration we are working across service areas in the Council to ensure this works to the benefit of everyone in the Stockport, underpinned by our inclusive growth framework.
“Stockport benefits from some great fundamentals, with unmatched connectivity by road and rail, to central Manchester, London and the peak district. We are working hard as a Council to build upon this and support new businesses- something the Cebr Powerhouse Study highlights.
“This is a positive day for Stockport, however there remains much to do for the future. This study believes as I do that Stockport has a bright future and we will continue working to that end.
“It is my hope this news will further encourage investors to see the potential of Stockport as a place to live, work and build strong businesses.“
The full report is available to download here: https://www.irwinmitchell.com/ukpowerhouse