An in depth report into the economic impact of the Royal Bath & West of England Society’s Showground and its far-reaching effects will be unveiled this week. (November 25th).
The report highlights the fact that events and other activities at the Shepton Mallet-based Showground generate a massive £164 million per year boost for the rural economy. The findings will now form the corner-stone of the Royal Bath & West of England Society’s mission to draw attention to the important role it plays in the region and underpin its case for the future funding of an ambitious re-development programme which includes new multi-purpose exhibition halls, new catering facilities and an on-site business village which will offer a range of business, community and training activities.
The Society commissioned Roger Tym and Partners (Planners and Development Economists) to prepare the Economic Impact Assessment, with financial support from the South West Regional Development Agency.
The report outlines the huge ripple effects that the many and varied events and activities staged at the Shepton Mallet-based Showground have on the whole rural economy. Packed full of facts and figures and detailed analysis, it shows how activities impact across all sectors – from tourism and employment to education and agricultural industries.
Each event plays its own part in helping create employment, showcasing products, and promoting business opportunities - so boosting expansion and development across the board.
Previous studies have shown that the 228 year old Society needs a major cash injection to improve, expand and redevelop its ageing facilities if it is to stay ahead of competitors, meet market needs and continue to fulfil its charitable aims of supporting agriculture and the rural economy.
The new report highlights the vital role the Society plays and will now be the foundation of its campaign for funding for the future. Council representatives, MPs, industry leaders and other strategic players from across the region have all been invited to the official launch of the report at the Showground next Friday (November 25th).
The breakdown of the economic impact figure of £164 million is:
- £19 million for Mendip (13%)
- £32 millionfor the rest of Somerset (22%)
- £40 million for the rest of the south west (23%)
- £73 million for the rest of the UK (40%)
To view the Economic Impact Assessment presentation please go to our Advisory Service page where you can download this important document.