We’re doing OK - but we must start to do alot better

NEWCASTLE was named the UK’s 11th most attractive city for inward investment, in a report that highlighted the region’s need for “enhanced skill levels”.

The city was named as one of the top for inward investment by design and consultancy firm Arcadis. The group ranked 24 UK cities based on their performance against six criteria deemed crucial for future inward investment and growth: business environment, workforce and skills, infrastructure performance, housing, place, and “city brand”.

Newcastle was given an average score of 50.7%, placing it 11th behind Birmingham (52%) and Exeter (52.4%). The city was ranked the fifth best in terms of infrastructure performance, due to its growing ultrafast broadband and relatively low traffic levels. The city also ranked 10th in terms of quality of life, which includes factors such as access to green space, cost of living, and air quality.

However, the report said to improve Newcastle would need to enhance skill levels and improve the performance of its schools. It also claimed Newcastle would benefit from more people.

The comments highlight the growing concern by many businesses that the city is suffering from a skills shortage that has left employers struggling to find staff. Business in the healthcare and digital sectors in particular are often unable to find local staff.

Peter Hogg, UK cities director at Arcadis, said: “All cities have strengths and weaknesses, and no area is fundamentally ‘un-investable’.

“The important thing is to recognise which levers need to be pulled –whether that’s more affordable housing, more efficient transport or better digital connectivity – to ensure a city attracts the type of investment it needs. Every region needs to look at what it has, and how it can make the most of it.

“Most importantly though, the governance of a city needs to be structured in a way that makes investment easier and more welcome. From the agglomeration of industries and knowledge, facilitated by strong transport links, to identifying opportunities to create growth corridors, such as that proposed for Oxford and Cambridge, we need to see a more joined-up approach between regions.”

Edinburgh was named as the most attractive city for inward investment. Oxford came second.