Peterborough has a diverse and robust economy. From innovative SMEs to large global headquarters, our local companies are pushing the bounds of innovation and sustainability, and they’re growing.
With five high performing business sectors – advanced engineering & manufacturing, agri-tech, food & drink, digital & creative, energy & environment and financial services – Peterborough fared well during the national and global economic downturn with increased investor confidence underpinned by the city’s ambitions and new initiatives to support economic growth.
We’re one of the fastest growing cities in the UK, rank highly for our high level of business start-ups and innovation. Although we’re only 45 minutes from London by train, we offer some of the country’s most competitive land, property and workforce costs! The confidence in the local economy has been endorsed by a number of new arrivals such as, Five Guys, Turtle Bay, Joules, and Addison Lee recently opening their doors.
Within our population of around 198,900 we have a slightly younger demographic profile in comparison to the UK and Eastern region, with 40% of the population aged 29 and under compared with 37% in the UK and 36% in the East. Peterborough also has a lower proportion of people aged 65+ in comparison to the regional and national averages.
Peterborough has a diverse and multicultural community with our population made up of around 14% non-white British compared to 13% in England and 7% in the region. Local residents benefit from an excellent house-price-to-earnings ratio. Property is attractive, affordable and plentiful and we also have one of the highest ratios of green space per person in the UK.
Peterborough in numbers
- Population of 198,914 and a retail catchment of over 960,000¹
- 62.6% of residents are of working age (c.124,500)¹
- An employment rate of 77.1%¹
- 6,840 VAT registered businesses¹
- Gross Value Added: £5,439m¹
- Productivity of £45,239 (GVA per worker)¹
- Median gross weekly pay of £507¹
- Peterborough is an affordable place to live and do business with a house price/earnings ratio of 7.39²
- Average cost of Grade A office space is currently around £13.50 per sqft³
- Cost of prime industrial space is £5-7 per sqft³
Updated January 2019
For further details on Peterborough’s economy, please contact Opportunity Peterborough.