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The capability and track record of tech and life sciences industry in the Corridor is second to none and represents a unique opportunity to build one of the world’s top five global knowledge regions here in the UK.
A 20-year vision will see the evolution of the Corridor to become one of the top five Global Knowledge regions, alongside Silicon Valley, Boston Route 128 and The North Carolina Research Triangle.
With 15 colleges and six universities, skills are rapidly evolving to meet employers’ needs while cementing the Corridor’s reputation as a place for outstanding research and development. Attraction of investment, business and talent is driving forward housing growth in areas such as Harlow, Peterborough, Bishop’s Stortford and Stevenage. A prime example being Harlow and Gilston Garden Town, which will deliver 16,000 new homes over nine years in four new Garden Town neighbourhoods.
Key Stats
The Corridor’s GVA will increase from £189bn to £350bn by 2040
By 2036, 400,000 new jobs in tech, life sciences & knowledge
The Corridor’s GVA per hour is 20 per cent above the UK average
Annual growth rates are twice the UK average of the past decade
The UK Innovation Corridor’s Growth Plan for 2024 – 2030 has nine themes to stimulate growth. They are: inward investment, science company mapping and networking, jobs, transport, housing, skills, airport, health as an economic driver, and barrier-busting.
The UK Innovation Corridor’s first Investment Prospectus showcases the region’s extraordinary potential for continued economic growth and innovation. With confirmation of the Corridor’s significant increase in Gross Value Added (GVA) and the promotion of the first four transformative projects, the prospectus highlights the corridor’s pivotal role in shaping the future of the UK’s economy.
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