Make no mistake this City Council has to become better, smarter and appeal more to the private sector. As the Government goes through its Austerity programme and cuts back on the Public Sector, the public money that Wolverhampton has had will not be coming back anytime soon – if ever!
That means that Wolverhampton has to replace that finance with other sources of income. That means just one place, the private sector.
This week I said as much in a debate that took place at City Councils Stronger Economy Scrutiny Panel. I also spoke up for Wednesfield.
The City Council needs to do all it can to assist in creating new jobs, retaining the jobs we have and supporting our industry here to grow. I am pleased that we have attracted Jaguar Landrover, and we have a great array of high end engineering companies like the aero space giants in Fordhouses. But I reminded Councillors that here in Wednesfield we have our own pride in the fact that we are also Making It Happen!
Here I n this corner of the City – Wednesfield has a strong industrial base. Did you know that in Wednesfield we have?
- 36 Engineering Companies providing 12% of the City’s engineering
- 33 Advanced Manufacturing providing13% of the City total manufacturing.
- 39 Other Manufacturing companies 8% of the City total
- 64 Construction companies 8% of the City total
Not all the foreign investment is going elsewhere. Now this may come as a shock to some but, we also have 17 Foreign owned companies that call Wednesfield as their home. These companies are 51% owned by a foreign based HQ. Wolverhampton does have an improving economy but we do have a long way to go before we reach the sort of prosperity we all hanker for. I certainly see with my colleagues the need to keep speaking up for both Wednesfield and Wolverhampton!