Oxford & Central Oxfordshire
Oxford is a global brand for a diverse range of industries - education, health, bioscience, information technology, publishing, the motor industry and tourism. The city itself is home to around 3,800 businesses providing 108,000 jobs.
Oxford is a powerful brand with world-wide recognition. It is the lynch-pin upon which Central Oxfordshire has been able to accommodate a diverse range of industries - education, health, bioscience, information technology, publishing, the motor industry and tourism. At the core the city is home to around 3,800 businesses providing 108,000 jobs. Seven of the ten largest employers in Central Oxfordshire are located in Oxford.
The local economy is flexible. Central Oxfordshire has played an important role in accommodating new, high tech, and innovative investments, which in turn have helped to sustain the competitiveness of the Oxford brand. Although there has been little change in the total number of jobs in the City over the last 30 years, and manufacturing has declined, these jobs have been replaced by employment in the health, education and the service sectors. 88% of employees now work in services, including 19% in retail, hotel and catering.
Largely due to the presence and influence of the two world-class Universities in Oxford and their links with business stimulation, Central Oxfordshire is also able to offer a labour force with a significant proportion being highly qualified.
In terms of Gross Value Added (GVA) Oxford was the seventh highest performer in a recent study of 50 city regions in England. In a study of growth rates across the same city regions, Oxford was the eighth highest performer.
Knowledge economy activity is the key to Central Oxfordshire's reputation and prosperity. The two universities, Oxford and Oxford Brookes, have been integral to this and:
- provide educational services of the highest international standard
- are driving forces behind the emerging research and development industries
- are leading the way in the creation of hi-tech spin-off companies. Staff from Oxford University have formed 80% of the 114 technology-based spin-off companies in Oxfordshire. Spin-offs employ around 3% of the county's workforce.
Additionally the hi-tech sector:
- has stimulated cluster development and business networking
- includes not just newly emerging areas, such as ICT, bioscience, and pharmaceutical companies but also traditional businesses which have successfully embraced technological advances, such as BMW and the publishing houses.
Central Oxfordshire accommodates several hi-tech and knowledge economy oriented business parks, including Oxford Science Park, Oxford Business Park, Milton Park, Harwell International Business Centre, Culham Science Centre, the Diamond Light Synchotron, and Begbroke Business and Science Park.
The motor industry continues to play a key role in and around the city. As well as BMW's commitment to Mini production in Oxford the wider area also hosts a number of Formula One businesses.
The Diamond is home to several internationally recognised brands apart from BMW Mini. These include Unipart, Harley Davidson, Oxford University Press, Amey, MacMillans, Oxfam, Williams Formula 1 racing , Renault Formula 1 racing, Neilsen's, Reed Elsevier, Siemen's, and Blackwells.
To the south of the City the exciting and new Quadrant initiative promises to boost Central Oxfordshire's knowledge economy credentials even further, including expansion of Milton Park.
Tourism is another significant part of the economy. Oxford is the sixth most visited city in the UK (excluding London) by international visitors and is the tourism gateway to the rest of Oxfordshire. More than 7.8 million visitors spend over £410 million annually.
Oxford is also a major retail attraction. A considerable commitment from the City Council, County Council, and SEEDA is in place to enhance this attraction even further by redeveloping both the central Westgate Shopping Centre and the West End area of the city centre. The potential which this represents has warranted the Government designating the West End area as a national "New Growth Point".
Central Oxfordshire enjoys good transport links with excellent connections to the motorway network via the M40 and A34, good rail links with London and the West Midlands, and a commercial airport on the edge of the City, at Kidlington.
