The Oxfordshire Local Industrial Strategy, designed to cement the county’s reputation as one of the foremost areas in the world to innovate, has been published
A new economic blueprint for Oxfordshire, designed to cement the county’s reputation as one of the foremost areas in the world to innovate, has been unveiled today (19 July).
Developed by the Oxfordshire Local Enterprise Partnership in collaboration with local authorities, businesses, and central government, the Oxfordshire Local Industrial Strategy sets out how the area will contribute towards the national Industrial Strategy’s aim to raise productivity levels and to create high-quality, well-paid jobs across the country.
At its heart, the new Local Industrial Strategy has a clear ambition to help Oxfordshire become a top-three global innovation hub by 2040, including through enhanced support for innovative scale-up businesses, transforming and expanding science and technology parks, and the potential creation of new Global Business District as part of Oxford Station quarter.
The strategy also outlines measures to increase social mobility and proposals to establish an Oxfordshire Entrepreneurship Hub to support students and young people develop new business ideas.
Nigel Tipple, chief executive of the Oxfordshire Local Enterprise Partnership, said: “The ambition for the Oxfordshire Local Industrial Strategy is to position the county as one of the top-three innovation ecosystems anywhere in the world, highlighting our world-leading science and technology strengths and – in-turn – to be a pioneer for the UK and our emerging transformative technologies.
To coincide with the launch of the Local Industrial Strategies, Business Minister Lord Henley met representatives from across the Oxford-Cambridge Arc today to discuss how these local economic strategies are helping to deliver the government’s Industrial Strategy ambitions.
With an existing international brand that draws talent from across the globe, Oxfordshire will aim to become one of the top three global innovation hubs by 2040, by:
- Supporting the transformation of science and technology parks, and the potential creation of a new Global Business District as part of Oxford Station quarter
- Providing enhanced support for scale-ups, building on the high number of university spin-outs generated in this knowledge-led economy
- Building on its existing Research & Development assets – as home to a world-leading university, and with dynamic and creative residential communities, science and technology parks
- Working with the Intellectual Property Office to launch a pilot programme to accelerate IP and commercialisation to help ‘breakthrough businesses’ capture the value of their IP across the business cycle
- Improving social mobility for young people, working with the Careers & Enterprise Company, local colleges and Oxfordshire County Council
Housing minister, Kit Malthouse, said: “The four Local Industrial Strategies mark a momentous time for the Oxford-Cambridge Arc and will maximise the undoubted potential of the region.
“It’s time to roll up our sleeves and work with communities and local leaders to realise their ambitions and also build more, better, faster, providing one million new homes across the Oxford-Cambridge Arc by 2050.”
The government’s modern Industrial Strategy is the flagship economic policy which backs businesses to create high-quality, well paid jobs throughout the United Kingdom, and invests in skills, global innovation and infrastructure.
