New data from the Office of National Statistics indicate that Brighton & Hove’s economy grew more than almost anywhere in the country in the last decade. But the city isn’t being complacent and last night a new inward investment website was launched at Brighton College.
Between 2000 and 2009 the value of the city’s economy rose from £3.4 to £5.3bn – a 58% increase. The figures also showed that productivity [measured in terms of Gross Value Added (GVA)/head] of the average Brighton & Hove worker increased the most in England outside London from £13,477/head to £20,611/head. GVA is a measure of the amount that each person contributes to the national economy.
The news comes as the city council and business partners launch a new initiative to attract companies and capitalise on the city’s entrepreneurial spirit. Included is a new website –Brighton For Business - showcasing the city and its functional economic area to potential investors.
Chair of the council’s economic development and culture committee Cllr Geoffrey Bowden said, “It’s an extraordinary story, which needs telling more often. While so many seaside towns and cities seem to fade and struggle, Brighton & Hove has reinvented itself by keeping pace with cutting edge and emerging high-tech industries in the city, while not losing sight of its broad cultural side.
“The website aims to keep the momentum going. It will show potential investors how they can get in on the act, providing a global audience with a key point of contact and information. We’ll be selling the city hard highlighting the talent we have here and what a great place it is for living and working.”
Tony Mernagh, executive director of the Economic Partnership said: “Brighton & Hove has got a fantastic business offer to companies seeking a creative location with excellent links to London, Europe and the world. Now it has a web site that not only puts all the information needed to understand that offer in one place but is also a joy to use.”
Figures show the city is already outstripping the country and region for the number of new business start-ups. In 2011 the number of new companies being formed was two and a half times the national average – around 300 a month compared to 120 for England.
In September 2012, Brighton & Hove accounted for 4.6 per cent of all start-ups in the South East. The rate was 15.3 new businesses created per 10,000 working age population compared to 11.2 across the region. Only Chichester fared better at 16.9.
The new website was developed by Brighton based marketing & communications company GSBA and background research was carried out by Scott Marshall & Bruce Nairne in partnership with a range of organisations who work to increase inward investment in the city including the council, Brighton & Hove Economic Partnership, University of Brighton and University of Sussex.
The new website will be hosted by the Economic Partnership which will be responsible for fielding inward investment enquiries in the first instance. Connect to www.brightonforbusiness.co.uk.
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