Economic Profile
Historically Banbridge District’s economy has its roots in manufacturing (textile/linen and shoe production), agriculture and the retailing/service sector. Ferguson’s, one of the oldest names in the Irish linen industry, still operates in Banbridge, and a shoe factory first opened in 1947 and closing in the early 2000s employed 600 workers at its height. According to council statistics the district is currently home to over 1,770 businesses, the vast majority of which have fewer than 10 employees. One of the most important recent large-scale economic developments to occur in the district has been the opening of a discount fashion outlet on the outskirts of Banbridge, which currently has 59 different stores. The outlet forms part of the Bridgewater Park development project, for which Tesco currently has planning permission to open one of its largest stores in Ireland. In late 2010 Asda also submitted plans for a store in Banbridge, with the possibility of creating jobs for up to 250 district residents.
| Economic Indicator | Geographic Unit | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 |
| Median Gross Weekly Wage (£) | Banbridge | . | . | 280.4 | 308.1 | 294.0 | 324.8 | 271.7 | 280.5 |
| Northern Ireland | 305.4 | 318.7 | 322.7 | 329.9 | 346.5 | 354.6 | 356.6 | 360.0 | |
| Mean Gross Weekly Wage (£) | Banbridge | 250.6 | 348.3 | 330.9 | 399.3 | 400.0 | 392.0 | 354.6 | 353.9 |
| Northern Ireland | 361.7 | 377.3 | 379.9 | 391.3 | 408.6 | 422.9 | 417.9 | 426.7 | |
| Unemployment Rate (claimant count) (%) | Banbridge | . | 1.3 | 1.2 | 1.1 | 1.4 | 2.8 | 3.5 | 4.0 |
| Northern Ireland | . | 2.6 | 2.5 | 2.2 | 2.4 | 4.3 | 4.9 | 5.2 |
Read more about this topic: Banbridge (district)
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