Bright Spring sunshine is encouraging new ideas, shoots of new growth and business investment for Parc Felindre. New working initiatives are set to bring a spring in the step of business land and occupiers seeking potential opportunity.
The Swansea Bay City Region accounts for nearly a quarter of Wales' fastest growing firms. Over the period 2017-19 their combined turnover climbed £35.1m to £60.1m. This annual growth rate of 138%, created more than 1,300 new jobs in just two years, doubling their workforce and demonstrating their continuing importance across the Welsh economy 1.
Supportive in both challenging and fruitful times, thousands of businesses are currently set to benefit as a Welsh Government and Swansea Council grant scheme opens, worth millions of pounds 2.
Parc Felindre offers quality of workforce right on its doorstep. The second largest city in Wales, Swansea’s population of 247,000 is projected to grow to 256,000 by 2030 and 600,000 of working age live within a 30 minute drive of Parc Felindre and 2,000.000 within an hour.
The UK government signing of a £1.3bn deal health, engineering and technology projects across Swansea region, this endorses the recognition of the area as a centre for expertise in these professions and skills, making Parc Felindre an ideal location for affiliated business.
Swansea Employment by Sector 2018
Renowned as a centre of healthcare excellence, 17.5% of employment is in this sector. Plans are set for new health science campuses at Moriston and Singleton Hospitals. The second largest sector is public administration and defence, with 11.1% of employment and retail with another 11.1% of professionals. Education boasts 9.2% of the city’s workforce – that’s around 10,000 workers, with accommodation, food services, and business administration, holding 8.3%. Construction, manufacturing and steel services are also drivers of local growth. 3
Big name brands that enjoy the benefits of the region in which Parc Felindre nestles are Admiral, BT, HSBC, Virgin Atlantic and Wolfestone, largest language translation services company in Wales. The Swansea City and regions status as the leisure, educational and administrative centre for South West Wales is reflected in the high proportion of employment in the service sectors (90%).2
Sources
1 Business Live (businesslive.co.uk)
2 Swansea Business Guide 2021
3 Wales Online (walesonline.co.uk/business/business-news/liveupdates-prime-minister-swansea-12766424)
