BUSINESS is booming in Worcestershire with new figures showing the county achieved the highest productivity growth in England in recent years.
The latest statistics released by the Office of National Statistics have shown that the county’s productivity between 2010 and 2015 grew by an annual average rate of three per cent, the fastest rate of growth out of all of the Local Enterprise Partnership (LEP) areas in England.
In addition to this, the county’s Gross Value Added, an estimate of the county’s overall economy, grew to a total of £11.79billion.
Worcestershire LEP has invested Government’s Growth Deal funds into a number of recently completed projects which will further grow the local economy including the Hoobrook Link Road in Kidderminster and the North Worcestershire Engineering Centre of Excellence in Redditch.
Mark Stansfeld, Chair of Worcestershire Local Enterprise Partnership, said: “It is fantastic to see that Worcestershire is setting the standard for productivity growth. This highlights the exceptional quality of workforce that our local companies benefit from as well as the high level of innovation that exists within the county’s businesses. We will continue to invest Growth Deal funds into key projects that will further boost local productivity, and continue the county’s development as an innovative, creative and dynamic economy.”
