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Greater Peterborough food industry continues to thrive



New research carried out by Greater Peterborough Investment Agency (GPIA) has shown that food companies based in the Peterborough area grow at a faster rate than those located elsewhere in Britain. The conclusions echo those of research carried out two years ago.

The latest research compared the past five years turnover of ten Peterborough-based food companies with 65 similar companies across Britain. It showed that companies grew on average 43 per cent in the Peterborough area compared with just 25 per cent for firms located elsewhere in Britain.

The difference is most pronounced with companies of turnover between £10 million and £15 million where there was an 86 per cent growth in the turnover of local companies compared with 12 per cent elsewhere. The gap did narrow with larger companies of turnover greater than £25 million but the growth of Peterborough companies was still much higher.

The research also showed that 34 per cent of firms outside the Peterborough area saw a downturn in sales over the period whilst local companies remained consistently healthy.

The research carried out by GPIA two years ago first highlighted the trend and identified that food companies in the area were significantly out-performing similar companies located in other parts of Britain.

The results support GPIA’s view that Greater Peterborough is an ideal location for companies involved in the food industry. Chief executive Gloria Milne said:

“The results of our two research studies are conclusive. They clearly show that there are significant benefits to food companies being located in the Peterborough area. We can offer competitive business costs and a location which provides easy access to population and business centres across Britain. We are also very close to highly productive arable farmland, providing food manufacturers with easy access to the raw materials they require.

“In addition, our engineering technology firms have a reputation for developing innovative food processing machinery. All these benefits represent powerful reasons for food companies to relocate here.”

April 2002

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