Last week, the Bristol Initiative partnered with member Arcadis to host a roundtable on Eonomic Growth and Investment in Bristol. Bringing together influential voices from key sectors - West of England Combined Authority, Atkins Realis, The Bristol Port Company, Evelyn Partners, Airbus, Bristol City Council, and more.
The discussion provided a valuable platform to explore Bristol’s strengths, challenges, and opportunities. Not only highlighting Bristol’s potential, but also underscoring the role of collaboration in shaping a prosperous future. Here’s a recap of the key themes and why they matter.
Bristol’s Ambitious Economy
Bristol boasts an impressive £15bn economy, supported by a blend of dynamic industries, rich cultural assets, and a highly skilled workforce. The city has earned its reputation as an innovation hub, and this combination of ambition and resources draws businesses and talent from far and wide.
Natalie from Arcadis’ Birmingham office offered a compelling comparison, introducing the idea of central-city innovation clusters as a driver for placemaking. While this concept has succeeded in cities like Birmingham and Wolverhampton, it also poses challenges. Innovation districts, if not planned inclusively, risk displacing lower-income communities. Bristol has an opportunity to learn from these experiences and ensure equitable development.
Overcoming Regional Challenges
One recurring theme was the need for Bristol and the South West to amplify their collective voice. “The biggest challenge we have is being overlooked as a region,” one participant remarked, echoing concerns that the South West’s potential often goes underrepresented at a national level. This sentiment was especially resonant considering the recent autumn budget that did not mention Bristol or the South West.
With a new Metro Mayor election next year, the region has a fresh opportunity to reposition itself. Leadership, advocacy, and unity from organisations like the Bristol Initiative will be crucial in ensuring Bristol is front and centre in conversations about growth and investment held at the highest levels.
Attracting Investment Amidst Global Competition
Participants acknowledged that Bristol’s global connectivity through its airport and port makes it an attractive destination for business. However, they also cited significant barriers, including high costs for construction and labour, planning delays, and a lack of direct business incentives.
An intriguing observation came from one participant representing a multinational business, who shared the internal competition they face. Multinational corporations often weigh investment decisions between regional offices in different countries, so teams in France or Germany may vie for the same funding as their Bristolian counterparts.
This internal competition adds urgency to the need for Bristol to position itself as an attractive, investment-ready city. However, as participants noted, long-term government investment and improved infrastructure are vital for success.
Tackling the Skills Gap
Bristol’s thriving universities produce an impressive number of highly skilled graduates, contributing to the city’s high graduate retention rate. Yet, bridging the gap between these graduates and underserved communities is still a challenge.
Participants highlighted skills shortages as a significant obstacle to growth, particularly in emerging areas like hydrogen innovation. The attendee from AirbBus mentioned that they had publicly committed to developing a commercial hydrogen passenger plane by 2035, a goal that could place Bristol at the forefront of sustainable aviation - if the region can meet its skills needs.
Infrastructure and Connectivity
Infrastructure challenges repeatedly surfaced during the discussion. From slow intra-city journey times to limited public transport options, these issues hinder business operations and reduce the accessibility of Bristol’s labour market.
Hybrid working has helped businesses keep employees, but several participants stressed the importance of in-office collaboration for keeping organisational culture.
Another notable gap is Bristol’s lack of a world-class conference centre. While Cardiff has two internationally recognised venues, Bristol is left behind in attracting large-scale events. Such a facility could bolster the city’s reputation as a business hub while also driving economic growth.
Optimism and Responsibility
Despite the challenges, there was a strong sense of optimism in the room. One attendee described the atmosphere as “heartwarming,” underscoring a collective belief that Bristol’s opportunities outweigh its obstacles.
The conversation also reflected a growing awareness of corporate responsibility. Businesses were encouraged to invest in the communities they operate in, contributing not just to economic growth but also to social cohesion.
What’s Next?
The Bristol Initiative & Arcadis Economic Growth and Investment Roundtable showed the power of bringing diverse stakeholders together to tackle complex issues. Events like these foster collaboration, spark new ideas, and help drive action.
For Bristol Initiative members, hosting a roundtable is a fantastic way to explore pressing topics while showcasing leadership within the community. These discussions create ripple effects, inspiring change and generating new opportunities for collaboration. If you’d like to host your own roundtable in collaboration with Business West, get in touch with Jenny.
For those not yet part of the Bristol Initiative, the roundtable offers a glimpse into the vibrant network we’ve built. Whether you’re a business looking to connect, a leader seeking to shape policy, or a changemaker ready to make an impact, we invite you to join us. Together, we can amplify Bristol’s voice, tackle its challenges, and seize its opportunities.
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