Reading: PwC invests in fast-growing tech cluster

PwC has more than doubled its Reading partner numbers and increased its office accommodation to support the fast-growing Reading and Thames Valley technology market.

The recent Demos-PwC Good Growth for Cities 2017 index named Reading as the UK’s second best-performing city after Oxford, as measured by a basket of 10 indicators seen as the key to economic success and wellbeing.

PwC is supporting the Reading and Thames Valley growth agenda where further steady expansion is expected, thanks to continued public and private-sector investment and transport links like Crossrail further opening up the region.

Reading office senior partner John Ellis said that partner numbers have grown from 15 to 33 and the office now had more than 400 staff supporting clients and fast-growth businesses in the region.

“With more than £12 billion in annual digital tech revenues and 45,000 tech jobs, Reading is one of the jewels in the crown of the UK’s technology industry.

“Close to London and Heathrow, Reading Green Park and Thames Valley Science Park are attracting both inbound multinationals and new tech startups and we are investing heavily in people and partners to support our clients’ growth and competitiveness.

“In terms of people, we’re now the largest professional services business in the region and we anticipate further growth over the next year.”

The Good Growth for Cities 2017 report placed Reading a close second to Oxford in this  year’s index, reflecting a continued improvement across a range of measures, including jobs, income and skills, with Reading  achieving the highest health score amongst the 42 cities in the index.

The Thames Valley is home to a wealth of tech businesses, and PwC works with many of the largest tech companies in the region. With the highest density of tech business in the UK, John Ellis says that the region now accounts for a growing proportion of PwC’s total tech sector revenues.

Since his appointment as Reading office senior partner in January,  Ellis has overseen a significant investment in extra office space and the arrival of additional partners, including Jass Sarai, Gareth Murfitt and Andrew Bell.

Based in the Reading office, Jass Sarai, who leads PwC’s UK Technology, Media and Telecoms practice says Reading and its surrounding areas are critical to delivering the continued growth of the UK tech sector:

“We are in an environment where technology is already disrupting the world of work and where it will change the nature of people’s jobs and profoundly impact the global economy and our daily lives.

“The latest Tech Nation report puts Reading as the UK’s number-one location measured by the density of digital businesses, with the city accounting for 13% of the UK’s digital revenues and where digital and technology companies account for one-in-five of all new business start-ups.

“Our continued investment in people who understand technology businesses reflects our belief that Reading is a great place for us to build scale and expertise serving not only those local companies but also many in the rest of the country.”

Much of the region’s technology activities are based at the Green Park business park, with the Thames Valley Science Park now home to 70 companies ranging from early-stage startups to global R&D centres.

The firm also boasts close relationships with Oxford and Reading universities and has attracted a number of clients operating in the life science sector.

Ellis also emphasised the importance of continuing to foster growth in the area:

“Reading is a fantastic environment and we should not underestimate the potential for the region to become a European – and even a global -  centre for technology development.

“PwC is continuing to invest as demonstration of our confidence in the region’s future. Reading and its surrounding communities are fantastic places to work and live and we are proud to be part of it.”