According to new Cisco study into economic output
The Cisco Productivity Index has found that Wandsworth boasted a productivity level 65 per cent higher than other boroughs when its economic mix is taken into account. Cisco’s study, carried out in collaboration with Oxford Economics, is the first comprehensive study to have looked into individual area’s economic output.
Wandsworth came top of a league table that included 391 separate UK locations. London boroughs dominate the top of the Index, with 15 of the 20 strongest-performing areas located in the capital.
The results were based on an evaluation of each area’s specific make up, looking at a range of factors from technology investments to the quality of road, rail and air connections and the education and academic qualifications of its residents.
According to Cisco, the study “clearly demonstrates that productivity is a complicated issue, determined by specific challenges in each geographic area. But by focusing on the four key pillars most associated with productivity – technology, people, business structure and innovation, and geography and physical infrastructure – every region can unlock more of its potential”.
Wandsworth council’s cabinet member for economic development, skills and employment, Cllr Jonathan Cook, pictured above, said: “I have to say it comes as no real surprise to me that Wandsworth has come top in a nationwide study of economic activity and industriousness. Our borough is home to so many dynamic, hard-working and ambitious people alongside innovative cutting-edge businesses that are determined to succeed.
“Our role at the town hall is to do everything we can to create the right conditions for people and businesses to prosper and to flourish. Better productivity supports higher earnings and business growth which benefits everyone in the borough.
“Through high achieving schools and excellent adult education and training opportunities, to reducing business rates and encouraging local firms to take on young apprentices, we are committed to playing our part in creating a vibrant environment that allows all our residents to fulfil their potential.”
Across all the London boroughs, according to the latest Office For National Statistics figures, Wandsworth has the lowest unemployment rate as well as the second lowest rate of low-paid local employees.
Sources of information:
For more information about adult education and training opportunities in the borough visit www.wandsworthlifelonglearning.org.uk
For more information on local job opportunities visit www.wandsworthworkmatch.org
To find out how the council could help support and improve your business visit www.wandsworth.gov.uk/info/200013/business_support_and_advice
July 1, 2019
map: Local Government Bounday Commission for England