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County Waterford, Ireland
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| You are here: Invest in Waterford > Economic Plan 2010 - 2014 > Build Vibrant Communities | ||||||||
Build Vibrant CommunitiesGoal - Building on the strengths of the County, priority will be given to developing the tourism product, festivals and events and consolidation of the retail, hospitality and tourism sectors in County Waterford and improving the viability of small businesses and local services which are the main employers in the local economy. County Waterford is made up of a rich mosaic of natural amenities, vibrant towns, picturesque villages, a scenic coastline, wood lands, mountains, bog-lands and fertile pastures. These combine to provide both residents and visitors with an excellent environment to live in or visit. It also provides the retail, tourism and hospitality sectors with an opportunity to harness commercial opportunities in a sustainable manner. Small to medium enterprises (SMEs) and local services are the main employers in County Waterford, and, as such, are the cornerstone of the County’s local economy. In most cases, these businesses are not eligible for grant aid. Reflecting their importance, Waterford County Council, in association with the development agencies, will put in place actions, including events and festivals, consolidation of the sectors, promotion and improved business environments, to help sustain and grow this sector. It is estimated that in 2006 the disposable income of residents of County Waterford was in the order of €1.3billion16. In addition, in 2007 an estimated 750,000 tourists spent in the order of €120million in Waterford City and County17. This represents a considerable market by any standards. However, research conducted in 2006 found that the County was losing approximately €186million retail expenditure to other centres in Ireland18. Since then, a number of initiatives have been put in place to arrest this retail leakage.
Working partnership with the businesses, chambers of commerce and business association, a range of actions will be implemented to achieve this goal as set out in Table 5.1
____________________ 16 CSO 2008 17 Derived from Fáilte Ireland Tourism Facts 2007. 18 Review of County Waterford Retail Strategy, adopted by Waterford County Council, 2006
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