Economic Development

Cambridgeshire is one of the fastest-growing counties in Britain. Between 1991 and 2001 the county's population increased by 9%, with significant increases around Cambridge and in Huntingdonshire. Over the same period the number of local jobs increased by 21%.

The largest employment centre in the county is Cambridge, which is home to around 95,000 jobs, and between 2005 and 2010 the number of jobs in the county is forecast to grow by 7%.

Cambridgeshire benefits from a diverse range of research and manufacturing industries with a strong importance on modern sectors such as high-tech and bio-tech. Around 14% of the workforce are employed in manufacturing and production, 84% in services and construction and 2% in agriculture. The key business sectors can be broken down as follows:

• research and development - in particular high tech and bio tech
• mechanical engineering
• electrical and electronic engineering
• food and drink manufacture
• paper products
• printing and publishing

A characteristic of the Cambridgeshire economy, identified in The Cambridge Phenomenon report, is the growth of high technology firms in the county. This industry now employs 43,000 people primarily in or near Cambridge, whilst both the Huntingdon and Ely areas are developing as high tech centres.

Research and Development firms account for over 20% of the county's high tech jobs. Since the 1970's, the rapid development of the Cambridge Phenomenon has made the area one of the best known locations in the world to develop a knowledge-based business. Cambridgeshire provides a location that is an ideal gateway to European and international markets.

However, to ensure Cambridgeshire can continue to compete at an international level, to attract investment and highly qualified or skilled people, it is critical to ensure a modern, efficient transport system and a high quality of life for those living here, which is where Cambridgeshire Horizons get involved.

In addition to local industry, Cambridge is famous for its education establishments. The University of Cambridge has around 17,500 students, and Anglia Ruskin University Cambridge has around 10,000 students, providing a steady supply of high-quality recruits for local businesses.

You can find out more about the Greater Cambridge Greater Peterborough Local Enterprise Partnership here.