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A new report has placed Cheshire East as the top performing area in the North West for ‘economic wellbeing’.
The Vibrant Economy Index also placed Cheshire East highly in the overall national picture as one of the best performing areas outside the South East.
The index has been developed by consultants Grant Thornton as a new way of measuring economic wellbeing, against a backdrop of growing economic and social uncertainty following the Brexit referendum.
The Vibrant Economy Index is based on a ‘basket’ of national statistics broken down into six broad categories of: prosperity; dynamism and opportunity; inclusion and equality; health, wellbeing and happiness; resilience and sustainability; and community, trust and belonging.
Across all but one of the categories, Cheshire East scored either first or second, to gain the top place across the North West and provide fresh insight into a broad range of factors, including skills, educational attainment, health and earnings – alongside more traditional factors such as economic growth and employment rates.
Councillor Don Stockton, Cheshire East Council cabinet member for environment, said: “I am delighted that Cheshire East has been rated as the most vibrant economy in the North West. It is further recognition of our many strengths and comes hot on the heels of other successes, such as the Halifax Quality of Life survey, which previously also ranked us as the best in the North West.”
Councillor George Hayes, chairman of the council’s arms-length Skills and Growth Company, said: “This is great news on many counts – but especially from the perspective of attracting further inward investment, by providing independent assessment of the many benefits we can offer new businesses moving into the borough.”
Rob Turner, director insights and analytics for Grant Thornton, said: “We believe a vibrant economy is one that goes beyond financial returns and takes into account the wellbeing of society and everybody’s ability to thrive.
“With this purpose – and input from the Vibrant Economy Commission – we sought a new way to measure the success of the economy. Our Vibrant Economy Index not only considers prosperity but also dynamism and opportunity; inclusion and equality; health, wellbeing and happiness; resilience and sustainability; and community, trust and belonging.”
The council’s inward investment service is managed by the arms-length Skills and Growth Company. For more facts about Cheshire East see the Skills and Growth website