Just some of the reasons why Peterborough is such a great place for business
A track record for growth
Peterborough is home to over 7,500 businesses and 200,000 residents. Both of these populations have experienced some of the highest growth rates in the UK- in fact, Peterborough accounted for one third of all startups in Cambridgeshire and was the second highest level in the East of England. With full-fibre gigabit connectivity, affordable costs and a diversifying economy that’s powering cross-sector collaboration and innovation, it’s no wonder we’re one of the most enterprising cities in the country.
Between 2010-2020, Peterborough experienced 50% business growth, compared to averages of 27% in the East, and 32% across Great Britain. It’s a growth rate that puts us ahead of Cambridge (24%), York (26%), Nottingham (37%), and Norwich (20%), and just ahead of Milton Keynes (46%).
The latest jobs data also shows Peterborough has been ahead of the pack, experiencing 22% growth, compared to 18% across the East of England, and 15% across Great Britain in the same period.
On the horizon, growth will be amplified as Peterborough sits within two of the UK’s fastest growth areas where the government has committed to major investment – the UK Innovation Corridor, stretching from Peterborough to London, and the Oxford-Cambridge Arc. The Midlands Engine also sits just to our north, improving innovation transfer in our area.
Investments in 2020
It may have been a year of disruption but Peterborough still attracted significant investment from businesses and secured millions of pounds worth of funding for its ambitious growth plans.
Peterborough – Highlights for 2020Growth headlines
200,000
residents in Peterborough alone
12.5%
population growth expected by 2050
12.5%
housing stock growth 2009-2019 (fourth highest in the UK) - third highest in the UK
40,000
jobs created 2010-2018
£600 million
masterplans for the city centre
2,500
new businesses established in 2020
A Hub of UK Headquarters
Over 7,500 businesses from across all sectors call Peterborough home and see the value in having a base in one of the most well connected and diverse local economies in the country. Even the UK government is investing here, with new offices in development for 1,000 civil servants from HM Passport Office and the Department for Environment, Food and Rural Affairs.
Discover more
Greater Peterborough’s economy spans high-tech manufacturing, 3D printing, the entire food supply chain, and logistical expertise. Businesses are thriving and our area is home to international giants, and a throng of agile start-ups.
Find out more about our key sectors
26,750
businesses in Greater Peterborough
309,000
jobs across Greater Peterborough
A connected base
Peterborough, and the Greater Peterborough area, offers access to 9 million customers within a 1.5 hour drive. It also provides unrivalled connectivity to the rest of the country.
1GB
lightning fast connections powering digitisation, Industry4.0, and global connections
39
minutes direct to London King's Cross from Peterborough
A1(M), A47, A11
Vital UK roads go through Greater Peterborough
HGV DRIVE TIMES
Major centre |
Miles |
Time |
|
A14, Junction 13 |
15 |
24 min |
|
A14, J21 |
16 |
20 min |
|
Leicester |
39 |
1 hr |
|
Nottingham |
56 |
1 hr 14 min |
|
M25 |
70 |
1 hr 10 min |
|
London (North Circular) |
78 |
1 hr 18 min |
|
Birmingham |
80 |
1hr 32 min |
Railports |
Miles |
Times |
|
Dirft |
50 |
1 hr 5 min |
Ports |
Miles |
Times |
|
Felixstowe |
100 |
1 hr 40 min |
|
Immingham |
104 |
2 hr 2 min |
|
Hull |
109 |
2 hr 6 min |
|
Southampton |
152 |
2 hr 48 min |
Affordable - for businesses and residents
£13.50
per square foot of Grade A office space
22%
more affordable house price to earnings ratio compared to the region
£543.60
average weekly pay for residents
Location |
Grade A office space |
Industrial space |
|
Peterborough |
£13.50 |
£6.50 |
| Cambridge | £36.00 | – |
| Milton Keynes | £23.00 | £7.50 |
| Bedford | – | £6.75 |
| Swindon | £18.50 | £7.25 |
| Basingstoke | £25.00 | £8.00 |
| Norwich | £16.50 | – |
COMPETITIVELY PRICED
Peterborough is one of the most competitive locations in the country; premium office space goes for 40% the rate in Cambridge and 60% of Milton Keynes; yet a base in Peterborough puts you next to the A1(M), A47 and A11, provides a 39-minute direct train ride to London King’s Cross, and access to an agile, skilled workforce.
Source:
Powered by people
Our skilled, agile, and dedicated workforce is one of our area’s biggest selling points. Employers invest in their workforce and collaborate closely with secondary schools, world class universities and even across sectors to develop cutting edge technology and in-house expertise.
Read more about our talented workforce
140
languages spoken
12,500
students will be studying at ARU Peterborough by 2035
