Oxfordshire must take stock in tech cluster battle

A study has suggested that Oxfordshire is failing to capitalise on its hi-tech potential, reports the Financial Times.

Oxfordshire has a higher proportion of graduates than any other English county and hosts about 1,500 hi-tech companies, but the study said that high house prices and congested transport routes might be holding it back in its competition with Cambridgeshire and London for hi-tech investments.

The study was backed by Oxfordshire’s local enterprise partnership, as well as the University of Oxford and the charity Science Oxford. It suggested that, following targeted support, the county could contribute an extra £1 billion to the UK economy by 2023. This would, however, depend on investments in house building and local infrastructure, and a devolved fast-track work permit system.