Council outlines plan for future of the local economy

Bridgend County Borough Council have outlined plans for creating new jobs and helping the county borough’s economy to prosper.

An economic strategy, which was put before Cabinet last week, has been developed by the local authority following and in-depth review of data an extensive engagement with stakeholders.

It provides the basis for dialogue on prioritised actions and aims to support the council’s ongoing ambitions to play a full and active role in supporting the local economy.

The strategy sets out a long-term strategic vision that expresses growth ambitions for the economy of the county borough and sets out a clear plan of actions that strengthens links to all sectors of the economy.

A £1.2m Innovation Fund has also been made available and will be locally focused to respond to the challenges and demands identified through the strategy. Resources would seek to support the development of new business opportunities, business adaptation and enabling innovation and resilience in the local economy.

Cllr Charles Smith, Cabinet Member for Education and Regeneration, said: “It’s very important that we have this strategy in place to give us an overall vision for the county borough.

“I am very pleased that this is a strategy developed in partnership with public sector partners and the business sector. This is a strategy by business for business.

“There is a real focus on our homegrown businesses that are the lifeblood of the Bridgend economy, and we know we can build on that strength within the economy.”

A new governance model will also be developed to support the delivery of the Economic Strategy, including the development of a Bridgend County Economic Partnership Board.

It is hoped the proposals will present an opportunity to draw work within one framework, identify gaps and more clearly articulate current priorities and future opportunities.