Retail: A sector we must continue to support

With a key aspect of the county’s economy being the retail sector as the Local Enterprise Partnership for Oxfordshire it is our role to ensure we continue to support this major economic driver.

Last year saw the opening of two major developments in Oxfordshirenamely the £440m Westgate Oxford redevelopment and the opening of 30 new stores at Bicester Village.

In what is already a key sector for the county (currently 31000 people in Oxfordshire work in retail according to the latest Nomis labour market information statistics for the county) both locations have the ability to attract top-class retail not to mention the thousands of new jobs and training opportunities that come with it.

Westgate Oxford in particular has been the stimulus behind increased footfall to the city centrewith a recent report from Oxford City Council showing a 11.9% rise during the week beginning 22 Januarycompared to the equivalent week in 2017.

The redevelopment will no doubt continue to support the city centre as a whole to be an attractive place to visit and – consequently – other retailers in-and-around Oxford will benefit from increased visitor numbers.

In-light of the recent news regarding Toys R Us and Maplin both entering administration it is clear that we need to ensure – as a county – that we create the right conditions to allow our traditional ‘high street’ stores as well as our retail parksto thrive.

Working hand-in-hand with this is the need to deliver an infrastructure that matches such world-class developments. The £215m commitment from central government – through the Oxfordshire Growth Deal – will certainly have a positive knock-on effect for our retail sector.

As a county we have worked hard to create a great retail experience – thereforeit’s crucial that we help all retailers to benefit from this major investment.

Nigel Tipple
Chief Executive