BATHS ECONOMY IS NOT WHAT IT SEEMS Colin Skellett

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BATHS ECONOMY IS NOT WHAT IT SEEMSColin
Skellett
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RETAIL

• 40 of retail spend is from visitors
• Experian classifies Bath as a fading star
• There is a shortage of modern retail space
• Expansion of Broadmead, Bristol and Swindon
  shopping will put further pressure on Bath retail
• Internet sales forecast to rise by 14 by 2012
• Need to maintain a distinctive offering

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EMPLOYMENT

• 40 of employment is public sector
• Eight out of the twelve largest employers are
  public sector
• There is an ageing population with a lack of
  skills
• Over 30 of the over 50s have no skills

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HOUSING

• House prices in Bath rose by 113 between 2000
  and 2005
• Bath has a house price to earnings ratio of 8.5
  compared to a national average of 6.4
• There is a lack of affordable housing
• Bath requires 314 affordable housing units each
  year only 692 were built between 1998 and 2006

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DEPRIVED AREAS

• Twerton West and Whiteway are within the top 20
  of the most deprived areas in the country
• Four more areas are within the top 30
• There is a direct correlation between deprivation
  and lack of qualifications

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COMMERCIAL PREMISES

• Shortage of investment in commercial premises
  threatens economic growth
• There has only been one significant new office
  development since the late 1980s
• The RSS requires a further 11,500 jobs by 2026
  which implies 105,000 m2 of new office space
• Office space is falling due to conversion to
  residential
• Industrial work space is also being squeezed by
  housing development

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TRANSPORT

• Severe peak hour congestion
• Inadequate transport links are a major restraint
  on economic growth
• Air quality on main commuter routes is well below
  required standards
• Inadequate provision of park and ride
• HGV vehicles have to route through city centre

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INWARD INVESTMENT ISSUES

• Suitable premises
• Cost of housing
• Perceived planning problems
• Need for a one stop shop

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THE OPPORTUNITY

• Vision for Bath provides overall framework
• Southgate redevelopment
• Western Riverside
• Transport investment
• Public realm improvement
• Our universities and colleges
• Future Bath Plus
• City Centre management
• Tourism development/promotion
• Support for culture and festivals