London and Edinburgh are driving forward a UK movement toward sustainable, knowledge-based economies that are spurring growth within their regions, according to a report from a prominent think tank.
New research from The Work Foundation identifies the two capitals as Ideopolises, or cities that have so far adapted most rapidly to the demands of Britain’s growing knowledge economy in terms of their number of knowledge industries and their workers within the surrounding region.
Locations in which the private sector is 25% composed of so-called ‘knowledge businesses’ benefit from a ‘huge boost’ in economic growth and prosperity, according to researchers, who spent a year studying the trends in 10 UK and four international cities.
They found an Ideopolis to have nine chief identifying traits, which include an appropriate physical knowledge city, high skill organisations, a diverse industry base, a vibrant education sector, strong connectivity within and outside the city-region, strong leadership, a distinctive ‘knowledge city offer’, community investment and path dependency.
Hot on the heels of London and Edinburgh are Manchester, Glasgow, Bristol and Newcastle, whose emergence are helping the UK cultivate a regional network of sustainable, high-growth locations for businesses in communications, science and the arts, the think tank said.
“Our future prosperity will depend on ideas and creativity,” said Peter Hewitt, chief executive of Arts Council England. “Already, the creative industries are the fastest growing part of our economy, generating more jobs and wealth than ever before.”
Identifying new and up-and-coming Ideopolises, he said, will help “point the way to the kind of knowledge-rich and creative economy of the future we need.”
