Work has started on developing a new economic plan for Bridgend county, with members of a council scrutiny committee set to be briefed this morning (pdf).
While there are some unavoidable economic shocks at the national and UK level (like Brexit and the coronavirus pandemic), the biggest economic blow to Bridgend came towards the end of 2020 with the final closure of the Ford engine plant. This was shortly added to not long after by news that Ineos had pulled out of plans to build a new factory at Brocastle.
Consequently, in the most recent Welsh Government statistics, provisional figures for average (median) weekly wages saw Bridgend fall from near the all-Wales average in 2019 (£525.90) to the second-lowest of the 22 local authorities (£464.10) in 2020. Only Ceredigion had lower average weekly earnings in 2020.
While the report mentions a list of strategies, ambitions, tasks forces and partnerships, I’m not interested in any of that crap and I assume you aren’t either. We’re very good at talking about things in Wales but not very good at doing them. I’ll believe it when I see it.
The most important part of the report is the evidence base that’s been developed for the new economic plan. Various interested parties offered their views on Bridgend’s economic strengths and weaknesses and this was used alongside evidence supported by data.
Strengths
Most of Bridgend’s economic strength is based on geography and its relative good transport links.
Stakeholders thought low crime rates were a bonus, while the data evidence supports the belief that population growth is strong and Bridgend’s economic performance has been relatively constant year on year. Overall, there are good business foundations.
Weaknesses
While transport links were picked out as a strength overall, there was a sense that things could be improved further. Stakeholders felt Bridgend also has a PR problem and is poorly marketed, while the main town centres – particularly Bridgend itself – were not seen as an asset. They also cite difficulties in recruitment, inadequate business premises and existential threats like climate change.
The data suggests that broadband provision across the county is patchy, with 10% of residents unable to get speeds above 10mbps.
Additionally, there are advanced skills shortages, local incomes haven’t kept up with house price increases (as mentioned earlier, median weekly incomes in Bridgend have fallen by up to 12% in the last year) and housing supplies aren’t keeping up with demand in both the private and social housing markets.
Opportunities
The good news is that both the stakeholders and the data had a lot to say here.
On the stakeholder side, they saw opportunities from green/zero-carbon technology, home/remote working and developing Porthcawl. They believe this has to be backed with an entrepreneurship drive and better marketing of Bridgend county – particularly to make the most of the natural landscape in the valleys.
There was a general sense that the large public sector can be an asset if they use their economic clout to support local businesses.
The data evidence also backed better promotion of Bridgend but also supported an argument for re-skilling the workforce to take advantage of emerging sectors like battery technology, home retrofitting and digital skills. There was also a call to invest in public transport, walking and cycling and “reimagining commercial spaces” (calling back to the Bridgend town centre master plan).
Threats
Now the bad news.
Other than medium-to-long term threats like climate change, there were concerns from stakeholders around uncertainty regarding replacements for EU funding. Bridgend’s position between Cardiff and Swansea – both of which are seeing massive regeneration and commercial investment at the moment – was also seen as a threat, as was a lack of relevant skills locally and difficulties in recruitment.
On the data side, some wards in the county – namely Caerau – remain towards the top of the list of the most deprived communities in Wales and have done so for years. The amount of income spent on housing costs remains high in Bridgend compared to the UK average, while there are proportionally more long-term disabled and unemployed in the county than in comparable areas.
Using this evidence base, the council hopes to have a final economic strategy prepared for the Cabinet by January 2022, with a more detailed plan for investments by March 2022.
