Council asks for support in finalising ‘Economic Vision’

Merthyr Tydfil businesses and residents are being asked to help the Council finalise its ambitious 15-year plan to unlock the county borough’s ‘great economic potential’.

A consultation carried out earlier this year on the impact of the pandemic provided our economic development team with valuable feedback which will help inform the Council’s ‘Economic Vision’ for the best part of the next two decades.

A second and final consultation is now taking place to help determine if our residents and businesses agree with our plans or want to see changes they think will better benefit the local economy.

“Merthyr Tydfil may be the smallest county borough in Wales, but it has great economic potential,” said Cabinet Member for Regeneration, Transformation and Commercialisation Cllr Geraint Thomas.

“To unlock this potential, we’ve prepared an economic vision that identifies our ambitions for the local economy, and explains how we’ll work with partners, communities, residents and businesses to create a strong and resilient economy.”

The Council’s Regeneration and Revenues & Benefits officers have helped businesses secure £40m of Welsh Government support since the first lockdown in March 2020. The aim of the Economic Vision is to now:

• respond to the socio-economic challenges and opportunities currently faced

• reflect the feedback of businesses and community and social organisations

• meet the requirements of legislation and policy

“We’ve reviewed our current local economy and labour market and critically engaged with local businesses, community organisations and our partners across the county borough to understand their view and ambitions,” Cllr Thomas added.

“Our Economic Vision describes where we want Merthyr Tydfil to be in 15 years. The vision will not be something we achieve overnight, but will set out our course of direction and what we work to achieve with our partners.

“We want to support the growth of our businesses and attract new ones; to equip our people with the skills to get a job or start a business; to support our community organisations to thrive; and to attract more visitors to our remarkable county borough.”

The Vision’s ambitions are:

• Creating economic diversity - increasing resilience to future challenges by assisting the creation of ‘the right type of businesses supported by the right type of business infrastructure’.

• Establishing ‘Destination Merthyr’ - prioritising the growth of our visitor economy by building on our unique outdoor adventure offer, outstanding natural landscape and world-renowned culture and heritage.

• Education and training - equipping our community with the skills they need to thrive in the economy of tomorrow and providing prospective investors with the confidence that Merthyr Tydfil is the place to start and grow a business.

• Modern Homes and Great Places - providing modern energy-efficient homes that ensure all our people have a safe place to call home; creating places that are green, attractive and have a character that is distinctive to Merthyr Tydfil.

• Transforming connectivity - strengthening our physical and digital infrastructure to increase attractiveness to investors, provide businesses with the platform to grow and ensure that all our residents can better access employment and training opportunities.

• Public and community services – being entrepreneurial and innovative in how we deliver public services to ensure that our communities receive exemplary front-line services.

• Natural resources and low carbon economy - protecting and enhancing our natural resources for the benefit of current and future generations.

Over the next 15 years, the Council will prepare and implement a series of action plans to frame this work.

“Our Economic Vision cannot be delivered by the Council in isolation, but rather through partnership working alongside our businesses and community organisations,” said Cllr Thomas. “We will collectively shape the action plans.”

• The Economic Vision consultation survey is running from 27 September to 11 October. To take part, please click on this link: https://bit.ly/2ZFg2rP