People Power Drives Growth in Stockport

Stockport's labour force is playing a key role in attracting new businesses to the region, according to one of the largest privately-owned development and investment companies in the UK.

Customer research conducted by Orbit Developments has shown that businesses moving to the area consistently rank the town's labour demographics highly amongst other factors, including connectivity, cost and location.

With a population of 284,600, Stockport is home to an estimated 128,700 employees[1], making it one of the largest labour pools in the North West. This, combined with a highly skilled and productive workforce, has helped to establish Stockport as an important business location and is believed to be behind the recent arrival of high-profile companies in the town, including British Sky Broadcasting.

Speaking of the importance of labour in the Stockport market, Rhys Owen, leasing surveyor at Orbit Developments, said: "We ask all tenants to highlight their reasons for relocation and the quality of the local labour pool is consistently ranked as one of the most important factors.

"We have recently seen an increase in demand from service-based companies looking to relocate their back office, business administration and support services to the area. For them, access to a high volume of skilled workers is fundamental to their decision-making."

In 2011, Orbit leased 9,720 sq ft of office space to American-owned Jacobs Engineering at Park Square - one of south Manchester's largest office buildings. Canadian-owned business The Cash Store also leased 9,000 sq ft of office accommodation at Applicon House in Stockport. Both deals are expected to draw significantly on the local labour pool.

Councillor Kevin Hogg, executive member for regeneration at Stockport Council, said:  "Having a qualified and educated workforce has been key to Stockport's success in attracting new employers. 55 per cent of Stockport's working age population is qualified to at least NVQ Level 3, while 35 per cent hold an NVQ Level 4 qualification or equivalent. This is higher than the regional and national average, meaning we have an exceptionally skilled labour force available to local businesses.

"Continued investment in the borough by Stockport's existing employers is also key to its growth as a business hub."

Chris Cheap, director of GVA, the joint agent acting for Park Square, commented: "Stockport is a major contributor to the Greater Manchester economy and, over the next five years, we predict the town will see stronger than average growth. This underlines the region's role as an area for growth outside Manchester city centre. It also demonstrates that Stockport has a dynamic business base capable of outperforming the regional and national rate of growth."

Owen continued: "Stockport is more than capable of holding its own in the current economic climate. It has an above average number of workers and the third highest level of productivity in Greater Manchester, making it a great place to do business. This recent arrival of major companies is testament to the strength of the region. It's great that the people of Stockport can count themselves as a reason for that success."