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The Gatwick Diamond economy and Growth P rospects

The Gatwick Diamond economy and Growth P rospects. Paul Swinney Centre for Cities @ paul_swinney. 1. How the Gatwick Diamond Measures up. The Gatwick Diamond economy is highly productive. Productivity 2010 - 2015. Source: ONS, regional GVA; ONS, BRES. Residents are highly skilled.

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The Gatwick Diamond economy and Growth P rospects

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  1. The Gatwick Diamond economy and Growth Prospects Paul Swinney Centre for Cities @paul_swinney

  2. 1. How the Gatwick Diamond Measures up

  3. The Gatwick Diamond economy is highly productive Productivity 2010 - 2015 Source: ONS, regional GVA; ONS, BRES

  4. Residents are highly skilled Residents by skills level, 2015 Source: ONS, Annual Population Survey

  5. It has a high number of high-skilled jobs Jobs by occupation (%), 2015 Source: ONS, Annual population Survey (workplace)

  6. And it has a large share of knowledge-intensive business services Industrial breakdown, 2016 (%) Source: ONS, Business structure database

  7. Although the sector grew at a slower pace than in some other areas Change in knowledge intensive business services (KIBS) jobs 1998 - 2016 Source: ONS, Business structure database

  8. The result is that the wages on offer are high Average weekly wage, 2016 Source: ONS, Annual Survey of Hours and Earnings

  9. 2. The geography of the Gatwick Diamond

  10. Different parts of the Gatwick Diamond play different roles… Reigate Redhill Epsom Leatherhead Dorking Manor Royal Gatwick Airport East Grinstead Centre of Crawley Horsham Haywards Heath Burgess Hill Source: ONS, Business structure database

  11. …as is the case across the comparator areas Milton Keynes city centre Aldershot city centre Reading city centre Chatham city centre Source: ONS, Business structure database

  12. This is particularly the case for knowledge intensive services jobs Reigate Epsom Redhill Leatherhead Dorking Manor Royal Gatwick Airport East Grinstead Centre of Crawley Horsham Haywards Heath Burgess Hill Source: ONS, Business structure database

  13. 3. The residents and workers of the Gatwick Diamond

  14. One in three workers comes from outside the Gatwick Diamond… Origin of Gatwick Diamond workers, 2011 Source: ONS, Census 2011

  15. …but one in three residents works outside the area Where residents work, 2011 Source: ONS, Census 2011

  16. This results in a difference in wages between residents and workers… Residents and workers average weekly wages, 2016 Source: ONS, Annual Survey of Hours and Earnings

  17. …which has implications for housing Housing affordability Housing affordability ratio for a Gatwick Diamond resident working in (2016)… Source: HM Land Registry, Price Paid Data; ONS, Annual Survey of Hours and Earnings (Resident analysis); Census 2011

  18. Policy recommendations • Maintain the Gatwick Diamond attractiveness as a place to do business: • Continue to expand the supply of employment space in the areas where it is most needed • Continue to encourage investment in town centres • Widen and deepen the number of skilled workers available: • Continue to expand the housing offer to meet the needs of the workforce • Improve transport connections into and within the Gatwick Diamond

  19. Paul Swinney p.swinney@centreforcities.org 020 7803 4305 @Paul_Swinney

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