Wakefield’s economy fastest growing in the region

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Wakefield’s economy is the fastest growing in the region, a new report has shown.

Figures released on Tuesday also revealed that the number of people in unemployment fell from 10.2 per cent in 2013 to 8.5 per cent during 2014.

And the district has been named as the fastest growing economy in the Leeds City Region with a rise of 54 per cent in GVA (gross value added - a measure of the value of goods and services produced in an area) during the past ten years. Coun Peter Box, leader of Wakefield Council and deputy chairman of Wakefield First, said: “This is good news for the district’s economy and shows our ongoing commitment and support to boost economic growth and help businesses thrive.”

The annual report, from Wakefield first, shows that almost 130 new jobs and 76 new businesses have been created in the last year through the Wakefield Business Support Programme.

And 210 apprenticeships have been taken on through the Wakefield Apprenticeship Hub. The report also lists a number of key developments in the district and mentions plans that are being considered for 2016/17 to bring a new university centre to the city.

Coun Box added: “In the face of tough economic pressures Wakefield and our local business community is showing its resilience. As a council we have a clear focus on creating jobs and economic growth and will continue to build on our success.”

Visit www.wakefieldfirst.com to see the full report.