In-depthreport reveAls 8,000 jobs creAted in just six yeArs

Study paints picture of buoyant economy but concerns at falling wages and poor qualifications

An in-depth review of the strength of the Peterborough economy has revealed that 8,000 jobs were created in the city in just six years The employment boost was duetothesuccessofanumber of companiestotheendoflast year.

The firms include Barn a c k E s t at e s , o f O r t o n Southgate,which recruited 25 staff after a £1 million plus expansion.

According to economic development company Opportunity Peterborough’s annual Economic Intelligence Report, the jobs growth is eight per cent higher than the previous six years and is larger than the national average of seven per cent.

The report was released to 140 business leaders at the Peterborough B2BExhibition and examines the costs of doing business, the location of companies, employment, claimant count, skills and innovation, qualification levels, population and house prices.

It showsthecity’s business creation is 43 per cent above the UK average. The city has 8,500 active companies.

The value of goods and services produced in the city is upeightpercentonlastyear at £5,366 million a year.

Peterborough is one of the most innovative cities in the UK based on patents registered. The report shows the city’s average weekly wage fell last year by60pto£496.10. Thecity has morepeoplewith noqualifications than regionally and nationally and fewer with degrees or NVQ level 4.

Steve Bowyer, OP chief executive, said: “We’re delighted with the positive picture paintedbythisreport. Westill have challenges and there is rarely a quick fix but we’re going in the right direction.”

Steve Bowyer, chief executive of Opportunity Peterborough.

The premises of Barnack Estates in Orton Southgate, which created jobs last year after a £1million plus expansion.