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State of the Region’s deep dive into Cambridgeshire and Peterborough’s economy approved by Board

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State of the Region’s deep dive into Cambridgeshire and Peterborough’s economy approved by Board

A comprehensive review of Cambridgeshire and Peterborough’s economy to support future decision making has been approved by the Combined Authority Board today (October 16).

The State of the Region 2024 report offers a detailed evidence base to identify the key trends, opportunities and challenges in the region, and aims to provide a solid, up-to-date foundation to support future decisions on investment, strategy and policy, in support of a more prosperous and sustainable future for the region.

At the meeting, the Board approved the report as the Combined Authority’s core evidence base.

It aims to support the Combined Authority and its partners in shaping strategies that build on the region’s strengths and address challenges. This includes key economic sectors like life sciences, advanced manufacturing and agri-tech, while addressing areas like inequality and barriers to sustainable growth such as transport, housing, and water. It will also help to champion the region and support engagement with the Government on growth, devolution and future funding.

A key feature of The State of the Region 2024 is its interactive dashboard, which allows users to explore the data in multiple formats, including charts, tables, and maps. This makes it an accessible resource for a range of stakeholders – from local government and businesses to community leaders and residents. Whether someone is interested in the impact of new infrastructure projects, changes in the local job market, or the health of the natural environment, the dashboard offers a clear and user-friendly way to access the data. Another key part of the report is that it is not just a snapshot in time, but a shared resource that will continue to evolve as new data becomes available, and being refreshed annually

The report has been co-produced in partnership with a broad range of stakeholders, aiming to reflect the priorities and concerns of the entire region. Key partners in local councils, the health sector, business groups, the education sector and voluntary sector were all engaged with, with feedback being incorporated into the final report.

The State of the Region will also help inform the development of a new Local Growth Plan for Cambridgeshire and Peterborough, which will set out to Government how the Combined Authority intends to drive growth.

The Office for National Statistics has collaborated with the Combined Authority throughout the production of the State of the Region and recognises this as a high quality evidence base. The State of the Region was also presented to the ONS Local Combined Authority Liaison Group to showcase this work to other Combined Authorities across England, where it received positive feedback and support.

Dr Nik Johnson, Mayor of Cambridgeshire and Peterborough, said: “The State of the Region offers a detailed view of where we stand today and will help us make smarter, more informed decisions on everything from growing our economy, to creating jobs and protecting our environment.”

Laurence Oakes-Ash, CEO of City Science, which was commissioned work on the report,  said: “We are proud to have collaborated on this ground-breaking State of the Region project for Cambridgeshire and Peterborough. Working extensively with a diverse range of stakeholders, the team hope we have been able to set a new standard for best practice in this field and that the report and dashboard will serve as an invaluable resource. We are excited to see how the State of the Region assets evolve over the years to come to drive insights and support positive change.”