The London-Essex UK Finance Corridor – extending from the City eastwards into Essex – has attracted leading financial services business seeking to combine reduced costs with fast transport access to London.
A key benefit of the corridor for finance businesses is Essex’s large pool of skilled finance and administrative workers. This specialist labour force is a direct consequence of Essex’s unique geography – fast, efficient transport connections into the City mean that Essex is both the City of London’s commuter belt and an integral extension of London’s financial services cluster.
So, in summary, here are the key workforce advantages that are helping to make Essex the location of choice for cost-aware UK financial services businesses:
1. Average wages in Essex deliver substantial cost savings versus London and other UK financial services centres:
2. Essex has more ‘Administration and Secretarial’ workers (as % of total workforce) that any major English city:
3. Essex’s proximity to London provides businesses with access to a large and diverse financial services workforce, that competitor UK locations simply can’t match:
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Contact INVEST Essex to find out more about the advantages of the London-Essex UK Finance Corridor for your business.
[1] ONS annual survey of hours and earnings - workplace analysis, 2014 ‘Major UK Regional Cities’ is average of ‘UK Core Cities’
[2] ITJobsWatch (www.itjobswatch.co.uk) June 2015
[3] ONS annual population survey, 2014
[4] Essex Economic Assessment/Nomis 2010
[5] TheCityUK, end 2013 data: finance and related professional employment workers in London
