An overview of the Mid Wales Economy
The Mid Wales economy is often characterised as a large and predominantly rural region, comprising of 34% of the land mass of Wales. It is known for its natural beauty, strong cultural identities and heritage.
It is less well-known as a land of untapped economic opportunity - where business survival rates outclass the Welsh average; where our natural and academic assets offer an obvious choice for cutting-edge research providing strong opportunities to create new industrial clusters; where there is a strong yet diverse labour market - with strategic commuter links within and outside the region to other parts of Wales and cross-border into England.
The geography of the Mid Wales economy is a critical component in driving and supporting intra-regional growth across Wales and the UK, where the sum total of its economic impact is larger than the sum of its individual parts. The region borders north and south Wales as well as the English Counties of Shropshire and Herefordshire. The impact of other regions on the Mid Wales economy is critical and plans need to reflect this interdependence.
The region's economy has its challenges in addressing the structural weaknesses that are currently hindering the potential of our residents and businesses to flourish. Poor connectivity, low gross value added (GVA) per head, limited skills infrastructure, grid constraints and lack of supporting business infrastructure all play their part in limiting the region's potential to take advantage of our opportunities.
However, whilst the challenges we face are not unique - the opportunities we have are indeed distinctive and rooted within our region.
Mid Wales economy at a glance
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