Borough economy leads again in Marches region growth
Figures published today show that Telford and Wrekin continues to lead the way for economic growth in the Marches region.
The Council says this is further proof of its business supporting, business winning approach reaping dividends and growing the borough’s economy.
The borough is again the fastest growing economic area across the Marches Local Enterprise Partnership region and the fourth fastest growing in the West Midlands.
Office for National Statistics data shows that the borough’s income for economic activity, called gross value added (GVA), grew by 3.5 per cent from 2013 to 2014, rising from £3.558 billion to £3.684 billion.
GVA over the past three years, from 2011 to 2014, has risen by 13.5 per cent in Telford and Wrekin, outstripping both the West Midlands (11.2 per cent) and England (12.8 per cent) averages for the same period.
Telford and Wrekin last year saw the biggest GVA increase in the Marches LEP region, above Shropshire (2.9 per cent) and Herefordshire (2.4 per cent).
Among the 14 West Midlands’ areas, the only areas to outstrip Telford’s growth were Solihull (6.3 per cent), Worcestershire (4.7 per cent) and Staffordshire (3.9 per cent).
Councillor Shaun Davies, cabinet member for Business, Neighbourhood and Customer Services, said: “These figures again prove this borough’s continued economic success story – businesses have confidence in and are investing in Telford and Wrekin.
“Business investment in the borough is up, unemployment figures are down, and the positive business measures delivered through Enterprise Telford are having a clear effect.
“With successes such as securing the new MoD Logistics centre here in the borough and more firms poised to come here, we are confident we can ensure Telford and Wrekin remain at the forefront of the region’s economic growth.”
