Nottingham has one of the fastest growing economies of any UK city, according to a new national report published this week.
The UK Powerhouse City Growth Tracker from Irwin Mitchell and the Centre for Business & Economic research (Cebr) shows that, in the last quarter of 2016, Nottingham climbed ten places in the national rankings with the sixth highest economic growth rate out of 38 UK cities.
Nottingham’s year-on-year economic growth figure of 2.5% is on a par with Greater Manchester and higher than Birmingham, Bristol, Leeds, Liverpool, Newcastle and Sheffield.
For employment growth, Nottingham is the fourth highest ranked city in the UK Powerhouse report with a rate of 1.6%, higher than all other Core Cities apart from Manchester.
Leader of Nottingham City Council, Councillor Jon Collins, said: “As a council we want to do all we can to create the right economic environment for businesses to prosper and for jobs to be created for local people.”
“In 2016, the City Council supported 5,000 people into work, 915 people into apprenticeships and helped 550 employers create new vacancies.
“This national report shows that, on two of the most important indicators – growth and employment, Nottingham’s economy is performing better than the majority of cities in the UK – which is good news for local people and businesses.“