County at top for productivity - The Evesham Observer

County at top for productivity

Evesham Editorial 23rd Mar, 2017   0

WORCESTERSHIRE had the fastest and highest productivity growth rate in England, according to new figures.

Figures released by the Office of National Statistics reveal that the county’s productivity between 2010 and 2015 grew by an annual average rate of three per cent – the fastest growth out of all counties in England.

Also, between 2014 and 2015, the county’s productivity grew by 2.96 per cent, the second fastest rate of all counties.

During the same period, Worcestershire’s Gross Value Added – an estimate of the county’s overall economy – grew to a total of £11.79billion.

Productivity is measured by GVA per hour worked, which indicates how efficiently the labour force creates economic output.

Mark Stansfield, Chair of Worcestershire Local Enterprise Partnership, said: “It is fantastic to see Worcestershire is setting the standard for productivity growth.

“This highlights the exceptional quality of workforce 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 which will further boost local productivity, and continue the county’s development as an innovative, creative and dynamic economy.”

Evesham’s MP Nigel Huddleston said: “Worcestershire is a county with immense productive potential and it is fantastic to see conclusive evidence that this potential is being harnessed effectively.

“The work of the LEP has been hugely beneficial to the county in recent years and these figures reflect outstandingly on the work that they have been doing in conjunction with the District and County Councils, as well as myself and other Worcestershire MPs.”

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