Oxford is the largest ‘knowledge-based’ economy outside of London
Recent research by the CEBR and Irwin Mitchell has recognised Oxford as the economy with the largest educational GVA outside of London.
The research published in the latest UK Powerhouse report illustrates that Oxford generates £0.5bn of economic value from academic activities, which accounts for around 7.5% of the city’s overall economic output.
Oxford has the highest proportion of employment in the academic sector of all major UK cities, with 21,100 people accounting for 8% of the city’s workforce.
Government-backed Faraday Institute to be based at Harwell
A new research institute for battery technology has received £65m of government backing. The Faraday Institute brings together the leading minds from seven leading universities in the field (including Oxford, Cambridge and Imperial College). The institute will be based at the Harwell Campus.
Oxfordshire’s new Infrastructure Strategy launched in November 2017
Oxford Growth Board launched its new Infrastructure Strategy in November 2017, with recommendations for the requirements needed to support the region’s growth through to 2040.
Oxfordshire is expected to need 5,100 new homes per year until 2040 to accommodate population growth of 267,000 people. The new report identifies that funding of £8.35bn will be required to support the anticipated growth, with £1.21bn already identified.
Oxford Business Park changes owners as TPG Real Estate buys Arlington portfolio
Oxford Business Park has been purchased by US real estate group TPG Real Estate as part of a portfolio deal.
The group purchased Arlington Properties, which owned the business park portfolio, for £450m. Oxford Business Park consists of 340,000 sq ft of office space across 23 buildings with scope to deliver a further 300,000 sq ft of space