The economic potential of the emerging Oxford-Cambridge Arc – which this week received further backing from the Government – has gained international exposure at one of the world’s leading property events.
OxLEP chief executive Nigel Tipple joined other business leaders from across the globe at MIPIM World in Cannes, representing Local Enterprise Partnerships and local authorities located across the Arc.
During the event, leaders met with a variety of international delegates to highlight the economic potential of the region – an area of the UK that currently generates around £107billion to the UK economy.
Oxfordshire currently contributes £23bn GVA per year, one of just three net County contributors to the exchequer.
The activity at MIPIM World ties-in with yesterday’s announcement from the Government which saw – as part of the Chancellor of the Exchequer's spring statement – a ‘joint declaration’ between Government and local partners (including OxLEP) created for the Arc.
The declaration outlined an ‘agreed way of working’ as well as several next steps. It also provides an update on the government’s overarching ambition for the Arc.
Nigel Tipple – Chief Executive of OxLEP – said: “The Oxford-Cambridge Arc is a successful, innovative and productive knowledge-economy that contributes around £107billion GVA each year to the UK economy, with potential to do more.
“‘UK PLC’ can capitalise on the Arc’s growth potential, through leveraging all the economic strengths across the region and its possible success can be accelerated if we position the Arc’s potential clearly in the minds of global investors.”
Nigel added: “Enhancing our high-performing economy and pursuing our growth potential must lead to the future success and prosperity for all local communities across the Arc.”
Pictured above: Our chief executive, Nigel Tipple (far right) at MIPIM World.