Milton Keynes has been named as one of the top cities for high wages, innovation and highest housing growth.
The Cities Outlook 2025 report commissioned by Centre for Cities shows that workers in Milton Keynes on average earn £40,596, higher than the national average of £37,206. Cutting-edge industries are cited as among one of the many factors driving higher wages.
The report revealed that cities with higher wages tend to have a greater number of innovative businesses in sectors such as tech and artificial intelligence (AI). Areas with the highest levels of pay have more than twice as many cutting-edge firms and three times as many high-tech jobs as lower-paying regions.
Milton Keynes is establishing itself as a leader in AI and tech, with one in three jobs in the city is in technology, and the city council and its partners have ambitious plans to grow and connect the tech ecosystem in the city.
The city has one of the highest shares of new economy businesses, with 56.7 start-ups per 10,000 people – ranking third in the country. Additionally, the report highlights Milton Keynes as the fastest growing city in the country, with a 2.4% growth in housebuilding in a single year – a reflection of its ability to attract businesses and residents alike.
Grants to drive growth
An inflatable balloon-dome company, independent cafés and local energy efficiency installers are among 25 businesses in Bletchley and Fenny Stratford that have been awarded grants to drive growth and create new jobs for local people.
Milton Keynes City Council launched the grant scheme last year as part of the Bletchley and Fenny Stratford Town Deal which aims to drive economic growth to the area. Start-ups will receive up to £2,500 and more established businesses up to £5,000.
Successful start-ups demonstrated that they have a business ready to be launched in Bletchley and Fenny Stratford, or have been operating for three years or less and need support to develop. The grant will be used for marketing, branding, training, business planning, financial management, sustainability measures or IT equipment.
Existing businesses will receive up to £5,000 to grow their current offer through launching new products, or by scaling up. The grant will be used to buy new equipment, cover consultancy costs, staff training, rebranding, software development or repairs and maintenance of premises.
One of the successful applicants is BalloonyTyphoony, who supply inflatable balloon-domes for events and parties. They will be using the grant to purchase equipment that will help ensure their activities are suitable for children with disabilities.
Find out more about Milton Keynes City Council at their website.
Leader
Milton Keynes City Council
