Is Stoke-on-Trent and the broader Staffordshire area an emerging economic force

Is Stoke-on-Trent and the broader Staffordshire area an emerging economic force

The Stoke-on-Trent and Staffordshire economy is seeing a number of positive announcements regarding new investment plans and job creation. The area is undergoing an economic renaissance and is stepping out of the shadows of its big city neighbours, Birmingham and Manchester.

The nature and scale of recent investments have the potential to transform the Stoke-on-Trent and Staffordshire economy into a regional force with national and global importance. Some of the world’s biggest companies like JCB, Jaguar Land Rover and Amazon are investing millions locally.

  

The scale of the investment is tangible and is much needed and very welcome.  I opened my Martin and Co offices in 2008 amidst much talk about investment and economic development but the truth is that the financial crash of that year and the following recession halted any significant investment plans.  We went through a period where Stoke-on-Trent was being voted as one of the top 10 worst places to live and for a few years there was little if any growth in property prices or rents.  That is changing and whilst statements such as  “regional force with national and global importance” are perhaps still aspirational we can now see it happening.  It is with a sense of pride that I walk to the office of my local business passing a new hotel, one of the smartest apartment blocks you will find anywhere, new office blocks and with immense pride that we are exclusively selling and letting a development of 128 properties on the edge of the city centre which will transform the look of one of the major gateways to the city centre.  And there is plenty more to come over the next few years.  

 

Economic Facts

 

  • More than 3 million people live within an hour’s drive time
  • There is a local population of over 1.1 million, with 695,400 working age adults (ONS)
  • 208,700 of the working age population is educated to degree level (NVQ level 4)
  • 2017 was a great year for new startups with nearly 6,000 new businesses (BankSearch)
  • Manufacturing alone employs nearly 59,000 people (ONS)
  • A high workforce training participation rate of 19%, particularly in production industries
  • Top 10 city for private sector employment growth 2011-2012 (Centre for Cities)