A major new report from the Oxford-Cambridge Supercluster Board has set out the scale of economic opportunity emerging across the Oxford to Cambridge Growth Corridor. It shows that the UK’s most important innovation corridor is now firmly multi-centred, with Stevenage and Milton Keynes competing with Oxford and Cambridge on key economic measures. To fully capitalise on the economic opportunity that the Growth Corridor presents we are urging government to move faster on infrastructure decisions, particularly East West Rail, to unlock the next wave of investment.
Launched in January following exclusive coverage in The Times, The Economic Power of the Oxford–Cambridge Growth Corridor draws on detailed analysis of more than 19,000 businesses operating across the region. Produced by the Supercluster Board’s Innovation Places Expert Panel in partnership with the Centre for Business Research at the University of Cambridge and Bidwells, the report presents a robust, evidence-led picture of a rapidly maturing innovation economy.
The findings underline the sheer scale of activity already in place. Across the corridor, around 3,000 knowledge-intensive firms employ approximately 152,000 people and generate £45 billion in annual turnover from these firms alone. The data also challenges long-held perceptions of the corridor as a two-city story centred solely on Oxford and Cambridge.
Instead, the analysis shows that Stevenage, Milton Keynes and the central corridor now match Oxford and Cambridge on multiple economic measures. This confirms the emergence of a corridor-wide innovation economy, with strength distributed across a network of interconnected places rather than concentrated in a small number of locations.
Crucially, the report does more than describe existing success. It sets out three immediate actions required to unlock the corridor’s next phase of growth:
- Faster government approval of the Development Consent Order for the East West Railway Company
- The creation of a single, corridor-wide governance structure with real authority
- A clear spatial plan that prioritises the coordinated delivery of homes, laboratories and supporting infrastructure
Together, these recommendations reinforce the need for a joined-up approach to delivery that matches the scale and pace of innovation already taking place.
The report also highlights the depth of world-class science occurring right across the Growth Corridor. The opportunity now, it concludes, is to pair that scientific excellence with an equally world-class approach to delivery – turning proven economic potential into sustained, inclusive growth at pace.
