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The ‘new economy’ tech firms see city as their home, says think tank’s report

COMPANIES specialising in new technology and the industries of the future see Milton Keynes as one of the best locations in the UK for their business, says a new report.

The city is named among the most attractive locations for ‘new economy ‘ businesses, with more than 30 future technologies organisations for every 100,000 residents.

Cities like Milton Keynes that prove attractive to one type of ‘new economy’ business tend to draw in others as well, the report by the independent Centre for Cities says.

 Its report At the frontier: The geography of the UK’s new economy  maps out the best places for new and emerging technologies to be based and the drivers behind their locations. The ‘new economy’ is defined as 47 technologically advanced sectors, made up of both services and manufacturing businesses, including robotics and autonomous vehicles.

The report states that Milton Keynes is among the most attractive places for ‘new economy’ businesses with more than 30 firms in the future technologies sector per 10,000 working-age residents. According to the report, cities like Milton Keynes that are attractive to one type of ‘new economy’ business tend to draw others in too.

Its findings have been welcomed by Milton Keynes City Council. Its leader Cllr Pete Marland pictured said: “This report further emphasises that we are a world-leading smart city and a place that empowers businesses that will provide jobs of the future for local people.

“We are ready to take on the challenge and support businesses looking to make a real difference for our communities and grow the local economy. “We have really big ambitions for our city which is backed up by this report but we cannot be complacent. We are determined to make MK an even more attractive place to do business, so we can secure good and well-paid jobs for local people while growing our economy in a fair, green and sustainable way.”

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