Digital and tech contributes £1bn to Lancashire economy

A new report has revealed that the digital and tech sector employs more than 30,000 in the county and contributes more than £1bn to the local economy.

The findings have been published in a 20-page report, compiled by Lancashire County Council and supported by the Lancashire Enterprise Partnership, which was debuted at the launch of the Lancashire Innovation Festival at Lancaster's Fraser House.

The research shows that Lancashire’s technology economy has grown by 28 per cent over the last five years, and that it is expected to grow three times faster than the county’s overall economic growth between now and 2028.

Factors that have contributed to the county's success in this area include high-quality digital connectivity including access to the North Atlantic Loop, as well as the high calibre of universities.

The county’s four universities produce more than 1,000 graduates a year with computing, engineering and technology qualifications. The report considers these graduates as ‘industry ready’ and highly employable, having benefitted from access to the county’s numerous university-based R&D hubs where students, academics and local businesses work closely together on real-life industrial projects.

Maya Ellis, Lancashire County Council’s innovation and digital lead, said: "This report demonstrates that in addition to having a significant tech-based economy, the county has all the elements needed to grow as a major centre of world-class digital innovation and commercialisation.

"We have major industrial sectors already based here who need advanced digital services, proprietary applications and robust cyber security to stay competitive, all of which they can access without having to go outside the county. This is complemented by an agile and responsive supply chain supporting dynamic and emerging markets such as 5G, Digital Heath, AgriTech, MarineTech, Future Mobility, Digital Retail and CleanTech.

"The report will also serve as excellent groundwork for the strategy being developed by the Lancashire Enterprise Partnership's Digital Sector Group and the work being undertaken by our universities and private sector partners. It will also support Lancashire County Council's Innovation and Digital team’s future delivery plans."

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