A number of national, regional and local strategies inform the economic development priorities of the local public sector agencies. At the national level there is the Framework for Economic Development in Scotland, the National Planning Framework and Smart Successful Scotland. At the wider Forth Valley area there is the Regional Economic Development Strategy and Area Tourism Strategy and at the Falkirk level, the My Future’s in Falkirk initiative, the 2000-2005 Strategic Community Plan, the Falkirk Council Structure Plan and Local Plans.
The fortunes of nations and regions are increasingly linked to global conditions. The nature and scale of competition is changing; low-cost developing economies are raising the skills of their working populations at such speed that they now compete not only for cost-sensitive manufacturing activity, but for higher value-added work such as research, design and marketing.
The ongoing decline in Scotland’s manufacturing sectors reflects this new reality and volatility. Uncertainty will continue as countries become ever more inter-linked through global supply chains and world markets.
Although the contribution of manufacturing and the traditional industries to the local economy continues to be significant, the Falkirk area has not been immune to economic shocks. This has been recognised and over recent years significant resources and effort through the My Future’s in Falkirk initiative have been channelled to help grow and diversify the economy and make the area an attractive location in which to invest, live, work and visit.
In addition, the Falkirk Council area has a distinctive history and culture, which ranges from the presence of the Romans and the construction of the Antonine Wall, through its position at the forefront of the industrial revolution in Scotland to its emerging role in the development of cultural and visitor attractions e.g. Falkirk Wheel, Callendar House and Big in Falkirk, Scotland’s National Street Arts Festival.