Today we released our first expert evidence paper for the London Stansted Cambridge Corridor Growth Commission, authored by Professor Michael Enright, the world-renowned expert on corridor economies, knowledge regions and clusters.

Professor Enright’s paper (click here to download) offers a summary of his 30 years of experience, and directs this at the challenges facing the London-Stansted-Cambridge Corridor. He identifies a number of critical issues, and priorities for the Growth Commission to consider.

The LSCC Growth Commission aims to provide independent analysis and advice to raise the global economic potential of the London-Stansted-Cambridge Corridor, setting out a 30-year vision for transformational change.

To retain, and build the Corridor as a competitive location for business and talent

Professor Enright summarises the needs of a region which aims to compete and continue to succeed as a knowledge – based and creative economy as:

• World class infrastructure
• Appropriate industrial/ business sites and premises
• Multiple skills (at all levels, e.g. being able to support provision of skills whether through training institutions and/or providing the right environment to live and work for leaders and highly-skilled professionals)
• Attractive working and living spaces – in particular as senior professionals and leaders are highly mobile and will choose the most attractive places to live, work and do business

Some particular challenges for the Corridor

• Complex governance – the multiple jurisdictions of local authorities and organisations, and the relative position of Central Government in terms of control over resources
• Infrastructural challenges – it is a valid question to ask whether current infrastructure is competitive with other knowledge economies, and whether it is sufficient to encourage further investment and economic activity
• Understanding capabilities, assets and potential – there is perhaps insufficient analysis and insight in terms of the capabilities, supply chains and clusters, and opportunities – i.e. what constitutes the Corridor?
• Identifying the nodes in the Corridor, understanding where there is critical mass – is the Cambridge economy of a sufficient scale and scope to support the corridor as the counterpart to London? Are there sufficient nodes of scale/scope between London and Cambridge?

About the author

Professor Michael Enright, The University of Hong Kong and Enright, Scott & Associates

A global expert on regional economic development and industry clusters, Professor Enright’s research has focused on international competitiveness, regional clustering of industry, and economic development. He has directed or co-directed major reviews of economies in 20 countries on five continents and has co-authored ten books on competitiveness and numerous papers on regional clustering.

Professor Enright is one of the LSCC Growth Commission’s Expert Advisors.

Harvey Mcgrath to lead 30-year vision to establish the London – Stansted – Cambridge Corridor as one of the leading economies within Europe

The leading philanthropist and senior businessman, Harvey McGrath has today been appointed to chair an independent Growth Commission established to build the ambitions and actions needed to strengthen the London– Stansted - Cambridge Corridor as a world-leading area economy.

With its £161 billion economy the London –Stansted-Cambridge Corridor has outperformed the national economy over recent years. Linking the world’s leading university and its high tech cluster with the world’s leading city with its cosmopolitan growth and a diverse, globalised business base – the Corridor is poised for significant growth.

Harvey McGrath, commented upon agreeing to Chair the Growth Commission:

As part of London, and with a successful tech-based economy in its own right, the London – Stansted – Cambridge Corridor could achieve significant international success over the next thirty years – but we need to articulate how this will happen. I will be working with the other Growth Commissioners to ensure that public and private sector leaders and investors are left in no doubt of its enormous potential, and there is agreement on the key collaborations and actions needed to realise this.

Background notes

Harvey McGrath has had a long and distinguished career in the international financial services industry, and is the former chair of Prudential plc, the London Development Agency, London First and Man Group plc. He is also Deputy-chair of the Mayor of London’s London Enterprise Panel (LEP), the local enterprise partnership for the capital.

The Growth Commission has been established by the Board of The London Stansted Cambridge Consortium (LSCC) – a partnership of public and private organisations based along the fast-growing economic corridor between London and Cambridge. A world leader in high tech and bioscience, the corridor accounts for 20% of England’s digital economy and life science workers. Investment in transport connections along the corridor will mean more high-tech businesses and jobs which are a driver of growth and the key to the UK’s future prosperity.

The Commission will also draw upon the expertise of highly regarded experts including internationally renowned economist, Professor Michael Enright, to strengthen the case for investment to support smart, high quality growth playing a significant role in the UK’s future economy. Professor Enright has consulted extensively on business strategy, regional economic competitiveness, and economic development and is known as “one of the world’s reigning strategy gurus”.

Evidence sessions will commence in January, following a period of research and there will be a call for written evidence in the New Year. The commission will launch their findings and recommendations in June 2016.

Professor Michael Enright, providing independent advice to the commission commented that:

“The London-Stansted-Cambridge Corridor is one of the key high growth opportunity areas for the UK and I am delighted to be working with the commission. With a vision and plan to invest in a high quality business location capable of attracting global talent, the corridor will be poised to become a pre-eminent regional economy – both nationally and internationally.”