Peterborough Regional Economic Partnership

The Peterborough Regional Economic Partnership is a joint public/private/voluntary group that seeks to enhance the Greater Peterborough economy covering the local authority districts of Peterborough and Fenland.

The aims of the Group are:

• To promote sustainable growth and economic development within the Greater Peterborough sub-region
• To promote a co-ordinated structure for interfacing with regional and national bodies involved in economic development and influencing their decisions
• To provide a coherent partnership framework to co-ordinate and align the activities of the main economic development organisations, private sector and other key partnerships such as Community Safety, Environment and Transport
• To co-ordinate services that will enhance growth in Greater Peterborough as reflected in our Sustainable Communities Plan status
• To co-ordinate and promote bids for grants and resources
• To co-ordinate the implementation of initiatives that support the enhancement of the Greater Peterborough sub-region, primarily in Fenland and Peterborough
• To act as the "Local Economic Partnership" for the area, in line with the roles defined by the East of England Development Agency
• To increase accessibility to housing across all of our communities

The partnership is governed by the principles of ensuring timely, effective and efficient delivery of projects, which will benefit the Greater Peterborough economy through its partner agencies.
The Greater Peterborough economy is part of one of the fastest growing areas in the UK. With the recent inclusion of Peterborough as a growth area within the London –Stansted – Cambridge corridor, the area has the opportunity to significantly enhance its economy by attracting external investment. With this designation, the Greater Peterborough area will be able to promote itself as a progressive economy.

Key facts about the economy of Greater Peterborough:

• Peterborough’s population is 159,100 and Fenland’s population is 86,700
• The GVA per head index for Peterborough is 114.00 (UK=100)
• There are 102,000 jobs in Peterborough and 36,000 jobs in Fenland
• The Jobseeker's Allowance unemployment rate is 2.9% in Peterborough and 2.5% in Fenland
• 35.7% of working age people in Peterborough and 29.8% of working age people in Fenland possess level 3 and above qualifications, but 15.7% of working age people in Peterborough and 15.4% in Fenland do not possess a qualification
• 72.9% of new businesses survive the first three years of operation

Whilst some of the key facts point to serious structural issues in the Greater Peterborough economy, there is potential to make the sub-region a significant economic contributor at regional and national level. In support of the Community Strategy, Greater Peterborough’s economic growth potential will support the vision of ensuring that the area will ‘grow the right way’. Clear potential exists through a number of resources that will be utilised. These include:

• Availability of land
• The excellent location Greater Peterborough has and its transport connectivity
• Availability of labour
• Strength in growing sectors and industries (primarily food and environment)

Coupled with the area’s status as a recognised ‘growth area’, there are many reasons for Greater Peterborough to strengthen its position, through the delivery of growth and the improvement in quality of life for all residents that will enable the economy to grow sustainably.
The chair of the Peterbororough Regional Economic Partnership is Mick Leggett

More information can be found in the sub regional economic strategy

For further information contact:

Will Spinner
Principal Economic Regeneration Officer
Peterborough City Council
Bayard Place
Broadway
Peterborough

PE1 1HZ

will.spinner@peterborough.gov.uk

Tel: 01733 742668

Please see the PREP website by clicking here...