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Theme 2: Facilitating pre-commercial development & business partnerships

December 12, 2017 • Approved in Progress

Economies of the Future Study

The Aim of the Study is ‘To provide valuable insight and future thinking to guide economic growth in Monmouthshire in order to address current economic issues and capitalise on the forthcoming regional opportunities’

The study will identify and provide:
The most appropriate growth sectors that will provide the economies of the future for Monmouthshire;

  • A detailed observational study of the accommodation and locational needs of the identified growth sectors;
  • An assessment of the suitability and deliverability of existing employment sites as identified by the Local Development Plan
  • Identify other potential employment sites
  • An indication of the skills sets required to address the growth sector needs and whether it is feasible for Monmouthshire citizens to meet these needs or whether the County needs to look to attract labour from elsewhere, if so where?
  • An assessment of:

* Whether current population levels can sustain the economic growth required in the county

* The potential inward migration required to develop and sustain the identified growth sectors.

  • The residential growth required to support the identified population needs
  • Potential locations for a new settlement that can be put forward as options for consideration in the LDP revision
  • Modelled scenarios and associated targets, to include current and predicted geodemographic analysis;
  • The additional infrastructure required to service the changing demographic and economic landscape over and above residential and commercial property;
  • Potential growth and development opportunities for the county and an assessment of the identified economic and population impact on existing retail sectors;
  • Impact of inward migration on indigenous population and house prices and the mitigation required to offset any negative impact;

•   A draft, scalable inward investment strategy that will determine the most cost effective method to attract these new growth sectors into Monmouthshire

The total project cost is £40,000 depending on the tender submissions with match funding of £20,000- Planning Department, Monmouthshire County Council.

Contract has been awarded to the BE Group for £33, 481.50 and will commence on the 1st January 2018 and will be completed in April 2018