New towns challenge Oxbridge supercluster domination

Published by the Oxford-Cambridge Supercluster Board, the document, The Economic Power of the Oxford-Cambridge Growth Corridor, highlights the increasing role of Stevenage and Milton Keynes in the science economy.

Board members including AstraZeneca, GSK, the Ellison Institute of Technology, Aveva, Leonardo and STEM real estate specialists Bidwells say the focus on the two university cities has overshadowed the growing contribution from the new towns.

Data based on the 2023/24 financial year demonstrates that the supercluster’s central region including Stevenage and Milton Keynes boasted a turnover of nearly £57 billion, compared to £46 billion for Cambridge and £32 billion for Oxford, said the report.

The region also led Oxbridge in terms of employment and the number of companies, it claimed.

In a statement, the supercluster board said the data showed that, for the first time, two new towns founded in 1946 and 1967 “now go toe-to-toe” with two cities housing the world’s second and third oldest continuous universities.

The information is being used to bolster the board’s campaign to urge the Government to unlock further investment in the region and “science firms by fast tracking approvals for the development of East-West rail communications in the area.

Board members, supported by nearly 50 organisations including commercial firms, investors and universities, are calling for the planned new Oxford and Cambridge train linen to begin construction during the life of the present parliament.

They point out that 3,000 “knowledge intensive” firms, employing 152,000 people and producing £45 billion of annual turnover generate close to a third of the supercluster’s turnover from little more than a quarter of corporate jobs.

Professor Simon Harwood, UK capability development director at board member Luton-based Leonardo, stated: 

“A cluster becomes a supercluster when innovation is no longer confined to two cities but distributed across a connected region. That is exactly what is happening between Oxford and Cambridge. The supercluster will allow us to take a solid existing base and build greater.”

“This new report sets out a compelling case for East West Rail not merely as a transport link, but as an essential hub aligned with national industrial strategy and the need for long-term export growth.”

The report pointed out that much of its demands align with science minister Lord Vallance’s promise last year of a coordinated approach to regional development and industrial investment.

The supercluster board’s statement also cited the speed of other planning approvals such as the proposed Universal theme park in nearby Bedford as an example of government responding quickly to planning need.

Ellison Institute of Technology chief operating officer Lisa Flashner commented: “Linking talent and infrastructure across the corridor accelerates innovation and drives sustainable growth.

“The report makes clear that business parks and campuses are now the backbone of that process. Strengthening the east-west network knits these places into a single ecosystem, accelerating the kind of breakthroughs and translational work that sit at the heart of what the Ellison Institute of Technology does.”

To read the report, click here.

Pic clockwise, top left: Cambridge (Vitalina), Oxford (Chait Goli), Stevenage and Milton Keynes (Altaf Shah)