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Wycombe Councillor Update Economic Profile of Hambledon Valley Ward

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Wycombe Councillor Update Economic Profile of Hambledon Valley Ward Wycombe Councillor Update Economic Profile of Hambledon Valley Ward April 2014 Produced by Buckinghamshire Business First’s research department P a g e | 2 1.0 Introduction Hambledon Valley is home to 2,648 people and provides 1,100 jobs in 47 businesses. Of these businesses, eight (17.0 per cent) are Buckinghamshire Business First members. There were 1,343 employed people aged 16-74 living in Hambledon Valley ward at the 2011 Census, 15 fewer than the 1,358 recorded in 2001. Over that period the working age population fell 142 to 1,607 while the total population rose 19 to 2,648. The number of households fell by nine (0.8 per cent) to 1,074. This is a significant percentage increase and places the ward 26th out of all wards in Wycombe. Based on the increase in number of households, the ward ranks 93rd out of all wards in Buckinghamshire. The largest companies in Hambledon Valley include: Henley Business School; Danesfield House Hotel; Toad Hall Garden Centre; Ward & Co (Building Conservation) Ltd; Red Kite Farm Ltd; Bull & Butcher; and David Harber. There are eight Hambledon Valley, representing 0.5 per cent of working age residents, including five claimants aged 18-24 and five who have been claiming for less than six months. Superfast broadband is expected to be available to 54 per cent of premises in the Hambledon Valley ward by March 2016 with commercial providers responsible for 2 per cent. The Connected Counties project, run by BBF, deliver the remaining 52 per cent through its interventions in Henley-on-Thames, Lane End and Turville Heath exchange areas. BBF is seeking to deliver an extended superfast footprint via additional funding, adaptation of downstream technology and contract claw-back mechanism. BBF are currently exploring opportunities to further extend faster broadband in this area. At the time of the 2001 Censusi, of the 1,360 employed residents, 556 people lived and worked in the ward, with the most common destinations by local authority district being: Wycombe (816, 60.0) South Oxfordshire (126, 9.3) Westminster, City of (51, 3.8) Windsor & Maidenhead (43, 2.2) Slough (33, 2.4) Hillingdon (31, 2.3) Reading (29, 2.1) Bracknell Forest (21, 1.5) P a g e | 3 2.0 Industrial structure There are 47 businesses located in Hambledon Valley employing 1,100 people. Of these businesses, 40 are micro businesses, employing fewer than 10 people. Hambledon Valley is over-represented in Accommodation & Food Services which accounts for 19.3 per cent of employment. Based on this proportion the ward is ranked 739th out of all wards. Furthermore, the ward is over-represented in Education which accounts for 22.5 per cent of employment. Based on this the ward is ranked 1,438th out of all wards. Hambledon Valley is also over-represented in property which accounts for 4.0 per cent of employment ranking the ward 891st out of all wards. Chart 1: Industrial Structure Index, 2012 (GB=100) Agriculture, forestry & fishing Manufacturing Construction Motor trades Wholesale Retail Transport & storage Accommodation & food services Information & communication Financial & insurance Property Professional, scientific & technical Business administration & support services Education Health Arts, entertainment, recreation & other services 0 50 100 150 200 250 300 Source: BRES, ONS, 2013 Hambledon Valley is under-represented in a number of sectors including; agriculture; manufacturing; motor trades; wholesale; retail; transport & storage; financial & insurance; business administration & support services; and health. Transport & storage accounts for only 0.3 per cent of employment ranking the ward 7,382nd out of all wards. Motor trades covers just 0.6 per cent of employment ranking the ward 6,410th out of all wards and health covers only 2.6 per cent of employment ranking the ward 7,628th out of all wards. P a g e | 4 2.1 The Industrial Strategy and the Plan for Growth Plan for Growth and the Industrial Strategy set out policies to realise this objective and to rebalance the economy, which include focusing on sectors expected to deliver strong growth. Wycombe -represented in these sectors, particularly aerospace, the information economy and professional and business services. While Hambledon Valley provides jobs in these sectors, the industrial strategy sector where the ward delivers the highest share of national employment is education which accounts for 22.5 per cent of employment, ranking Hambledon Valley at 1,432nd among English wards. The proportions of jobs in Hambledon Valley in Industrial Strategy sectors are presented in Table 1. Table 1: Employment in selected industrial strategy sectors, 2012 Construction PBS InformationEconomy Education Wycombe 5.4 12.4 6.6 8.9 Buckinghamshire 5.2 14.7 4.4 9.7 England 4.2 12.1 2.9 9.2 Hambleden Valley 5.4 15.3 4.9 22.5 Source: BRES, ONS, 2013 At 15.3 per cent, the proportion of Hambledon Valley professional, business services sector is the 1,185th highest of all wards in England, the proportion is above that of both the country level and the district level. 3.0 Labour market At 69.8 per cent of 16-74 year olds, Hambledon Valley lowest in the country. Hambledon Valley has a proportion of 45.8 per cent of its residents qualified to degree level or higher. Furthermore, 61.4 per cent work in managerial, professional or technical occupations. In Wycombe the wards most similar to Hambledon Valley are Lacey Green, Speen & The Hampdens, Icknield and Greater Hughenden with 12 of the other 27 wards among the top thousand closest matches. The least similar ward in the district is Oakridge & Castlefield, the only ward in Wycombe to rank lower than the 7,000th closest match. P a g e | 5 Table 2: Hambledon Valley Self-employed 1-3 SOCs NVQ4+ age Working Employmentrate Chiltern Rise Home from Work Hambleden Valley 14.2 20.6 61.4 45.8 60.7 69.8 Lacey Green, Speen and the Hampdens 10.5 16.8 64.6 47.6 60.1 68.6 Icknield 10.6 17.7 58.8 41.3 59.2 66.4 Greater Hughenden 7.1 14.5 54.5 37.7 60.7 68.2 Greater Marlow 7.8 13.4 64.5 45.6 59.8 68.1 Marlow North and West 6.6 13.9 57.6 41.8 58.8 68.0 Source: Census, 2011 Hambledon Valley has a high level of those who work from home and are self-employed. Furthermore, as stated previously, the ward has a high level of those educated to degree level or higher and those working in managerial, professional and technical roles ranking in the top quartile for both. Hambledon Valley looks to have a high employment rate and a low level of working age residents. Chart 2: Hambledon Valley Work from Home 100 75 Employment rate 50 Self-employed 25 0 Working age SOCs 1-3 NVQ4+ Source: Census, 2011 P a g e | 6 4.0 Occupational Structure Hambledon Valley remunerated occupations, with 61.4 per cent of working residents employed in managerial, professional and technical occupations, ranking in the top quartile nationally for each. In contrast Hambledon Valley ranks in the bottom quartile for other occupations, with only 5.0 per cent of working residents employed in elementary occupations. Chart 3: Hambledon Valley comparative occupational, 2011 1. Managers, directors and senior officials 100 9. Elementary occupations 2. Professional occupations 75 50 8. Process plant and machine 25 3. Associate professional and operatives technical occupations 0 7. Sales and customer service 4. Administrative and secretarial occupations occupations 6. Caring, leisure and other 5. Skilled trades occupations service occupations Source: Census, ONS, 2011 5.0 Deprivation Buckinghamshire has the lowest level of economic deprivation of any Local Enterprise Partnership, with Wycombe having the 13th lowest economic deprivation of all 326 local authority districts in England, behind South Bucks (10th) but ahead of Aylesbury (37th) and Wycombe (69th). Chart 4 demonstrates the concentration of Wycombe least deprived in England with 12 of the 25 wards featuring among the least deprived 10 per cent of all wards in England and only three ranking among the most deprived half of English wards, a stark contrast to the London Borough of Newham where no ward ranks above halfway, highlighting the challenge Wycombe faces to attract resources to tackle deprivation. P a g e | 7 Hambledon Valley has the eighth lowest economic deprivation of the 7,707 wards in England and is the least economically deprived of the 28 Wycombe wards. Hambledon Valley is the least economically deprived among the 108 ward in Buckinghamshire. The position of Wycombe ds in England is shown in Chart 4 below, with Hambledon Valley one of the nine least deprived decile. Chart 4: Relative economic deprivation of Wycombe wards by English decile, 2009 10 9 8 7 6 5 4 3 2 1 0 Most Least deprived deprived Source: DCLG, 2012 Hambledon Valley ranks 5,309th out of all wards in England based on the Index of Multiple Deprivationii; this makes it among the less deprived wards in England, below Wycombe average rank of 5,471st, demonstrating that the ward is more deprived than the district as a whole. P a g e | 8 Chart 5: Comparative deprivation by IMD domain in Hambledon Valley IMD 100.0 Living environment 75.0 Income 50.0 25.0 Crime 0.0 Employment Housing Health Education Source: DCLG, 2010 The wards in Wycombe most closely matching Hambledon Valley deprivation profile are presented in Table 3. Nationally, the closest matches are Itchen Valley (Winchester), Luffield Abbey (Aylesbury Vale) and Funtington (Chichester) while Icknield and Bledlow & Bradenham are the most similar in Wycombe ranking as the 500th and 939th most similar of all English wards.
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