Tech 'fastest-growing sector' in Greater Birmingham

The digital technology sector is set to become the fastest-growing industry in Greater Birmingham in the next five years, a new study has predicted.

According to research by property group JLL and business consultancy Tech City UK, the tech sector will add £1.1 billion in GVA to the economy in the city's wider regions by 2022.

The study analysed the growth of the sector across eight areas in England, Wales and Scotland, exploring current and emerging property trends affecting the tech industry and assessing whether or not conditions favoured landlords or tenants.

According to the Birmingham Post, the report found that Greater Birmingham's Birmingham Research Park, Fazeley Studios, Innovation Birmingham Campus and the Custard Factory are all top tech start-up hubs, rendering the area one of the fastest-growing in the country.

Commenting on the research, Kelvin Craddock, director in the national office agency team in Birmingham at JLL, said: "We expect Greater Birmingham's tech sector to increase its gross-value added contribution to the economy by 21 per cent to £1.1 billion by 2022 and the tech workforce to grow by six per cent to 15,400."

He added: "The talent pool available is certainly encouraging companies from outside of the city, and particularly London, to consider moving to Birmingham."

Mr Craddock added that the Custard Factory is one of the original catalysts for the area's digital success, particularly in the technology-dominated Digbeth area, and remains the largest hub of digital and creative talent outside London.

"Its continued presence has also helped make Digbeth a flourishing location for new ventures. We are starting to see start-up companies looking to upgrade and move to more prime office space," he said.