Slough is the second most productive place in the UK according to the latest research conducted by the Centre for Cities.
The research, which annually looks at key economic indicators across 62 ‘cities’ across the UK, lists Slough as second only to London when it comes to productivity – with each Slough job making an average of £71,600 a year for the UK economy, a gross value added (GVA) 30 percent higher than the national average.
Slough as a place of innovation and entrepreneurship is also clear, with the town being ranked third in the country for business start ups and ninth for patents published.
The borough is also a major contributor to the export market being third in the country for amount of exports per job.
Councillor Sohail Munawar, leader of the council, said: “This report shows once again that Slough means business.
“Not only the big headquarters we are known for, but the up and coming small businesses, the entrepreneurs, the innovators.
“And we will continue to work with our businesses of all sizes, help our residents get into the tens of thousands of jobs they provide and encourage innovation to truly cement our place as the economic boomtown of the south east.”
Slough has recently seen some of the largest investment in the town by business for some years with construction beginning on the first U + I building opposite The Curve, construction of The Porter Building on Brunel Way and the purchasing of the town’s shopping centres by Catalyst Capital on behalf of ADIA.
This is in addition to investment being made by Slough Urban Renewal – a joint venture between the council and Morgan Sindall Investments – in housing, leisure, hotels and school buildings.
Councillor Munawar continued: “We took the decision to invest in our town, its facilities, its infrastructure, its residents and businesses and, ultimately, its economic future, at a time when other local authorities were all about making cuts.
“By deciding to invest in our town, we have encouraged others to do the same and, with the advent of Crossrail, the potential expansion of Heathrow and our improved infrastructure Slough is better connected than ever.”
The Centre for Cities report also ranks Slough seventh for weekly wages – with an average weekly workplace wage of £588 – one of only 18 cities paying more than the national average.
The full Centre for Cities report can be found here. Unfortunately the report does not break London sown into regions.