CGI depiction of building, source: Foster + Partners
In 2015, BOP was tasked by BBC Wales with forecasting the economic impact of the relocation of their broadcasting centre to Central Square, Cardiff. As BBC Wales have now taken the keys to this new building, designed by Foster + Partners, they asked us to update our analysis.
Having reviewed events since 2015, BOP is confident that the relocation of BBC Wales is on track to deliver the economic impacts forecast at that time, namely:
- £1.1bn to the GVA of the Cardiff City region over the next decade, which equates to…
- an additional 1,900 FTE jobs being undertaken by people in the city throughout this ten-year period.
This review involved interviews with 12 key decision makers in Cardiff, including representatives from the public sector (e.g. Ken Poole, Cardiff City Council), the creative industries (e.g. Grant Mansfield, Plimsoll Productions), and Higher Education (e.g. Professor Justin Lewis, Cardiff University School of Journalism).
Given what Cardiff has achieved in the past decade with ground-breaking facilities like Roath Lock, the relocation of BBC Wales to Central Square has a compelling logic and creates an outstanding foundation for further TV and content success in south Wales, which the local creative sector seems ready and hungry to seize.
Read our updated report here to learn more about developments in and around Central Square, Cardiff.
- Jonathan Todd, Chief Economist