New economic plan to make Oxfordshire top global innovation centre

Ox Innovation centre

A new economic blueprint for Oxfordshire, designed to cement the county’s reputation as one of the foremost areas in the world to innovate, has been unveiled.

Developed by the Oxfordshire Local Enterprise Partnership in collaboration with local authorities, businesses, and central government, the Oxfordshire Local Industrial Strategy sets out how the area will contribute towards the national Industrial Strategy’s aim to raise productivity levels and to create high-quality, well paid jobs across the country.

The new Local Industrial Strategy wants Oxfordshire to become a top three global innovation hub by 2040, including through enhanced support for innovative scale-up businesses, transforming and expanding science and technology parks, and the potential creation of new Global Business District as part of Oxford Station quarter.

The strategy also outlines measures to increase social mobility and proposals to establish an Oxfordshire Entrepreneurship Hub to support students and young people develop new business ideas.

Nigel Tipple, Chief Executive of the Oxfordshire Local Enterprise Partnership, said: “The ambition for the Oxfordshire Local Industrial Strategy is to position the county as one of the top-three innovation ecosystems anywhere in the world, highlighting our world-leading science and technology strengths and – in-turn – to be a pioneer for the UK and our emerging transformative technologies.

“By investing in Oxfordshire, we will be able to deliver for the UK – creating jobs and reinforcing our current position as one of just three net contributors to the national economy.

“We are responding to government’s Industrial Strategy, which aims to boost productivity and create more prosperous communities.”

The Buckinghamshire, South East Midlands, and Cambridgeshire and Peterborough Local Industrial Strategies have also been published, demonstrating the full economic strength of the Oxford-Cambridge Arc area.