SmithsonHill welcomes the Cambridgeshire and Peterborough Independent Economic Review Final Report findings

Cambridge 16th September 2018

SmithsonHill welcomes the Cambridgeshire and Peterborough Independent Economic Review  (CPIER) Final Report which was published on 14th September 2018.  The report is a great representation of the uniqueness of Cambridgeshire and Peterborough, and the impact our area has within the UK and globally. The report highlights the critical importance of agglomeration for business growth, which we have written about previously in the AgriTech Cluster in Cambridge.  The CPIER report also highlights the benefits of convergence and sets out the idea of encouraging place-based innovation districts focussing on specific technologies or sectors – this is particularly welcome in light of our proposed plans for ARC Cambridge.

The CPIER report states that “if a knowledge-intensive company is forced to move away from the sphere of clustering activity, it is likely to relocate to another cluster, rather than stay in the local area”. The report recommends that the “UK Government should adopt a ‘Cambridge or Overseas’ mentality toward knowledge-intensive companies in this area”.  We have seen an increase in exciting new AgriTech companies in the Cambridge area, who are quickly outgrowing the facilities available to them locally. The report further states within the section Sector in Focus: AgriTech that “this is a real opportunity for the area to become an international leader in this sphere”.  We couldn’t agree more.

We will be releasing a detailed response of the report soon – which we will share at future events and with the Combined Authority Business Board.