More to be done in capital

THE “Building More and Better Jobs” paper says that while Cardiff’s “regeneration story” has been “remarkable” there is more to be done.

It lists the strengths, weaknesses, opportunities and threats facing the city.

Strengths

■■Capital City Status – driver of the Welsh economy. ■■Fast growing and dynamic economy – proven ability to create jobs in competitive sectors. ■■Well qualified workforce – 2/5ths qualified to degree or equivalent. ■■Number 1 in the UK for quality of life. ■■World class university research – Cardiff University ranked 6th in UK. ■■Greater city-region alignment and established governance. ■■Sporting and cultural assets – including Europe’s biggest covered arena. ■■Advanced digital infrastructure.

Weaknesses

■■Relatively low levels of productivity – which in turn affects earnings. ■■Low numbers of HQ operations – impacting on innovation and competitiveness. ■■Pressure on the city’s transport infrastructure – which is due to grow. ■■Lags some UK competitors in visitor numbers – capacity to improve. ■■Large wage disparities – need to support productivity improvement for everyone. ■■Poor international connectivity – physical and digital. ■■Lack of urban policy agenda in Wales – reduces impact of “agglomeration”.

Opportunities

■■Scope for growth in key sectors including financial and business services, and the creative sector. ■■Improving business infrastructure such as the world class BBC Drama Studios in Cardiff Bay. ■■Growing economy brings opportunities for wider markets. ■■Investment in metro will unite the city-region and provide opportunities. ■■Growing visitor economy – growing faster than any other UK city. ■■Potential to exploit Brexit.

Threats

■■Competition from other UK cities for mobile investment. ■■Competition from other UK cities for mobile workforce. ■■Pressures of population growth will impact on infrastructure. ■■Need to maintain and promote the “Cardiff” brand in an increasingly competitive marketplace ■■Impact of Brexit on ability to attract and retain skilled workers ■■Need to keep pace with technological advances.