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ºÚÁÏÍøÕ¾ has one of the highest rates of growth in private sector jobs and some of the highest wages in the UK, according to an influential report.

The Centre for Cities 2020 report, which compares economic statistics across 63 cities and large towns in the UK, underlines the town’s status as a great place to do business.

ºÚÁÏÍøÕ¾ has excellent transport links and infrastructure, a skilled workforce, great connectivity and large economically-active areas like the Manor Royal Business District and Gatwick Airport – all reasons why it’s a great place to do business.

The report has found that ºÚÁÏÍøÕ¾ has:

• The ninth highest average wage in the UK of £617 per week (£46 more than the UK average)
• The highest proportion of private sector jobs in the UK (84,000 private sector jobs, only 11,000 public sector). This is a ratio of 7.3 and the UK average is 2.9
• An average gross value added (GVA) of £66,063 per worker, making it the 19th most productive city. GVA measures the contribution to the economy of each individual
• The 10th highest private sector jobs growth in the UK and the highest in the south east with a 3.1 per cent (2,500 jobs) increase
• The 11th highest number of patents granted at 19.48 per 100,000 people
• The seventh lowest rate of residents with no formal qualifications at 5.2 per cent.

While only 36.9 per cent of ºÚÁÏÍøÕ¾ residents have high level (NVQ4 and above) qualifications – which ranks the town 25 out of 63 – this has increased from 22.7 per cent in 2016, which put ºÚÁÏÍøÕ¾ in 60th place.