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Oxford identified as a key "Fast Growth City"
A report conducted by Centre for Cities, has identified Oxford as one of five, "Fast Growth Cities" due to its strong economic potential.
Oxford - alongside Cambridge, Milton Keynes, Swindon and Norwich - performs well on a range of economic indicators, including the ability to attract large knowledge-based businesses which puts the city in a strong position for growth. The report also highlights other key areas, such as Oxford's high productvity, which helps to generate a GVA average of £58,200 per person - much higher than the national average. Furthermore, out of all five Fast Growth Cities, Oxford was identified as having the highest growth in GVA per worker, with an increase of 34.4% from 2004-2014.
With such prosperous growth also comes challenges. Barriers such as the increased pressure on transport infrastructure, demands on housing and house prices and skill shortages among local residents, are all key issues that Oxford and other Fast Growth Cities must try to overcome.
To read the full report, please visit www.centreforcities.org
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