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| Cambridge and Peterborough Independent Economic Review | |
|---|---|
| Name | Cambridge and Peterborough Independent Economic Review |
| Other names | CP-IER |
| Established | 2012 |
| Region | Cambridge, Peterborough, East of England |
| Produced by | Independent panel |
Cambridge and Peterborough Independent Economic Review
The Cambridge and Peterborough Independent Economic Review was a 2012 independent assessment commissioned to assess regional competitiveness across Cambridge, Peterborough, the East of England, and nearby localities including Huntingdonshire, South Cambridgeshire, Fenland, and Ely. Chaired by an external panel, the review drew on evidence from institutions such as the University of Cambridge, the University of East Anglia, the Alan Turing Institute, Babraham Institute, and agencies like Greater Cambridge Greater Peterborough Local Enterprise Partnership, UK Research and Innovation, and the Office for National Statistics. Its remit intersected with policy arenas exemplified by the Localism Act 2011, Industrial Strategy White Paper, and regional planning frameworks linked to Cambridgeshire and Peterborough Combined Authority.
The review aimed to map assets linked to Silicon Fen, Addenbrooke's Hospital, Wellcome Trust Genome Campus, The Sanger Institute, and the MRC Laboratory of Molecular Biology, while relating them to transport corridors such as the A14 road, M11 motorway, East Coast Main Line railway, and projects like Cambridge North railway station and proposals connected to High Speed 2. It sought to inform funding decisions by bodies including the European Investment Bank, the British Business Bank, and local stakeholders like Cambridge City Council, Peterborough City Council, Cambridgeshire County Council, and South Cambridgeshire District Council.
The methodology combined quantitative analysis from the Office for National Statistics, firm-level data from Companies House, patent data involving United Kingdom Intellectual Property Office, and bibliometrics tied to Web of Science and Scopus. Qualitative inputs were solicited from research groups at Imperial College London, University College London, London School of Economics, as well as innovation intermediaries such as Cambridge Enterprise, St John’s Innovation Centre, CAMTEC, and business networks like Tech Nation and Confederation of British Industry. Scenario analysis referenced macro models used by Bank of England and fiscal frameworks like those in the Treasury.
The review identified clusters around biotechnology exemplified by Babraham Research Campus, information technology linked to ARM Holdings and Darktrace, and advanced manufacturing nodes including Marshall of Cambridge and aerospace suppliers tied to Rolls-Royce Holdings. It recommended infrastructure investment in corridors connecting Peterborough to Cambridge with enhancements to Cambridge Science Park, urban extensions comparable to Northstowe planning, skills initiatives aligned with providers such as Anglia Ruskin University and Coleg Cambria, and governance mechanisms resembling Mayoral Combined Authorities and models used by Transport for London.
Sectors highlighted included life sciences with actors like Ely Biotech, agricultural technology linked to NIAB and Rothamsted Research, digital tech anchored by Cambridge Consultants and Autonomy Corporation, and financial services involving Barclays and Lloyds Banking Group presences. Creative industries intersected with institutions such as Royal Society of Arts, while professional services drew on firms from KPMG, PwC, and Deloitte. The review noted complementarities with supply chains servicing Heathrow Airport and ports like Felixstowe.
Recommendations informed local strategies by Greater Cambridge Greater Peterborough Local Enterprise Partnership and influenced bids to national funding streams administered by Department for Business, Energy and Industrial Strategy and transport proposals evaluated by National Infrastructure Commission. Some proposals were referenced in regional delivery plans with partners including Homes England and Historic England, and in negotiations associated with the UK Shared Prosperity Fund and successor schemes to European Structural Funds.
Academic responses from scholars at University of Cambridge, University of East Anglia, University of Oxford, and University of Manchester debated the balance between agglomeration benefits and distributional impacts raised by commentators at Institute for Fiscal Studies, Resolution Foundation, and Joseph Rowntree Foundation. Business groups such as Federation of Small Businesses and trade unions like Unite the Union offered mixed appraisals, while environmental NGOs including Friends of the Earth and Campaign to Protect Rural England critiqued development pressures near Cambridgeshire Fens and greenbelt areas.
Elements of the review fed into the establishment of the Cambridgeshire and Peterborough Combined Authority, discussions about a regional Metro Mayors model, and infrastructure packages that intersected with projects like East West Rail and Cambridge South Station. Research leveraging the review has appeared in journals such as Regional Studies, Cambridge Journal of Economics, and working papers from National Institute of Economic and Social Research. The review remains cited in strategy documents from Historic England, Natural England, UK Research and Innovation, and local enterprise partnerships as a touchstone for regional planning debates.
Category:Regional economic studies