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Cambridge tech sector takes off

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The Cambridge hi tech cluster is set for a bumper start to the year after the technology sector saw the steepest expansion of business activity for almost a decade in the fourth quarter.

According to a KPMG/Markit tech monitor UK report, the proportion of tech employees in Cambridge is nearly two-and-a-half times the national average, with the number of people employed in R&D on natural sciences and engineering’ almost eight times the GB-wide average.

The East of England ranked third out of eleven GB regions for concentrations of tech jobs at local authority level, after the South East and London. The report estimates that there are at least ten local authority tech hotspots in the Eastern region.

Charles le Strange Meakin, technology partner for KPMG in the East of England, said : “With a world-class university, world-class research infrastructure and numerous business parks, it is little surprise that the East of England has the highest concentrations of tech employment outside of London. Additionally, the strong tech start-up scene, provides a further boost to the draw of the local area.

“The Cambridge–Stansted–London corridor is key centres of gravity for tech sector employment and major infrastructure advantages for local authorities that lie in this corridor are good road transport links to central London and Stansted Airport via the M11, as well as direct train routes to key parts of the capital’s tech scene.

“Importantly the report also shows that contrary to the popular belief that the UK lags behind the US tech sector, as trends in UK tech business activity closely match the performance of the Nasdaq.

As the UK tech sector is continues to go from strength to strength, with a sharp increase in business activity, a rise in new orders and an increase in profitability despite higher costs, it can only be really good news for our local economy, creating confidence in the business outlook and solid rates of job creation, well above the rates in other sectors of the economy.”

Last Updated ( Thursday, 06 March 2014 12:33 )