Page 259 - Minutes of meeting

 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 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 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
 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 have the potential
to anchor further regeneration.

This intelligence is important, both in validating the vision and objectives for
the plan, but also supporting the creation of a project long list.
Notwithstanding this appraisal, significant question remain about the short and
long term impacts of COVID-19 and through the development plan, it will be
important for this to be kept under ongoing review.

It is intended that this report will be held in draft as the Town Investment Plan
continues to develop. Supporting this process, the Board are now asked to
provide feedback on this report, this will be used to support its further
development as it is moved to finalisation.

End.

Appendix A – Draft Socio-Economic Narrative