Media Releases
Reading Economy Tops National Survey
10/07/2007
Press Release
Reading has the fastest growing economy in the country, according to a national survey by think-tank Centre for Cities.
The town has topped a table assessing the performance of 56 of the country's largest towns and cities, eclipsing major cities like London, Manchester and Birmingham.
Centre for Cities - currently part of the Institute for Public Policy Research - measured employment, population and skills to create the table.
Based on statistics from 1995 to 2004, the survey showed Reading had an employment growth of more than 25%. Just 8.5% of working age adults had no qualifications (2003) and employment stood at 3.5% (2005), with an employment rate of 80.4%.
Population growth stood at 4.7% according to figures from 1996 to 2004 and just 4.5% of the working age population claimed work-related benefits.
Reading Borough Council Leader David Sutton said: "I very much welcome this report. It is hard evidence of how much work has gone into transforming Reading into a 21st century city, in every sense.
"The findings of this Centre for Cities survey link in well with our aspirations for Reading as a successful, vibrant and go-ahead place to live and work.
"In our City 2020 document we laid out our vision of how Reading would grow into a modern European city. This report indicates that Reading is moving very successfully in that direction."
Tim Smith, Director of Reading's city centre management company, added: "This is the latest independent comment on Reading's credentials as a key contributor to the UK's economy.
"It comes as the city centre management company is poised to evolve to an economic development company and gives us a first class base from which to work. The key to Reading's future success will be in sustaining its economic excellence and our new company - Reading UK CIC - is committed to that."
For a copy of the full report go to: http://www.ippr.org/centreforcities/pressreleases
ENDS
Oscar Mortali
Tel: 0118 939 0301