Page 250 - Minutes of meeting

Summary Conclusions

The following conclusions of the Socio-Economic Narrative have shaped the choices of the Strategic Objectives for the Town Investment
Plan. These are:

▪ Barrow has significant sector strengths in advanced manufacturing and energy which will drive productivity and earnings growth. Barrow

needs to ensure it has a supportive business environment in place to facilitate growth and maximise opportunity

▪ Barrow is highly dependent on a small number of major employers, and there is a need to support diversification and resilience in the
economy. These employers have a role to play in facilitating economic and social value in Barrow as anchor institutions in the town

▪ Barrow has a number of key investment sites centred around the town centre and Barrow Island. Together, these present clear
opportunities to lever significant inward investment to the town and anchor further regeneration.

▪ Barrow faces a significant demographic challenge and needs to retain and attract talent to fulfil the potential of major projects in the town
and drive competitiveness

▪ Barrow has a higher skills gap which is a barrier to local people accessing the jobs of the future

▪ There is a net outflow of young people from Barrow, and this needs to be stemmed through strengthened progression pathways to
education and employment within the town

▪ Barrow has stark levels of deprivation and inequalities which undermine quality of life and life chances

▪ Peripherality is a defining feature of the Barrow Travel to Work Area. Opportunities to enhance transport infrastructure and embrace
digital technologies will help to offset this barrier to growth

▪ Barrow has an affordable housing offer but the condition of stock is a concern, and the lack of aspirational housing is a barrier to
attracting higher skilled people to live in the town

▪ Barrow has a struggling town centre characterised by high vacancy rates and a leakage of spend outwith the area. Barrow needs to drive
vitality and diversify uses in the town centre to attract people into the area

▪ The complexity of need and opportunity in Barrow requires a collaborative response by public services to drive transformation and
inclusive growth in the town

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