Chepstow - Economy

Economy

Chepstow developed from mediæval times as a port and trading centre. Its port functions, together with its shipbuilding industry, have now virtually ceased. The industries which developed on the shipyard sites, particularly the fabrication of major engineering structures by the Mabey Group, continue close to the town centre as well as on the Newhouse Farm industrial estate beside the M48 motorway, where wind turbine towers are now assembled. Other local industries have included the material for artificial ski slopes, developed at the "Dendix" brush factory, which in its time was a producer of all sizes of industrial brushes. The works, now operated by Osborn-Unipol, relocated out of the town centre to a new site beside the motorway in 2011. There are smaller industrial estates in Bulwark, and close to the town's railway station, and the Newhouse Farm industrial estate is also a major distribution centre. Other notable locally based businesses include Architen Landrell, a manufacturer of tensile architectural structures, and MVM Films, a distributor of Japanese animated films.

Chepstow is now primarily a centre for service industries and tourism. Its good road communications have encouraged commuting to larger centres in South Wales and Bristol, although the 2001 census showed more people travelling into the town for work, mainly from other parts of Monmouthshire and the Forest of Dean, than travelling out. Its location at the southern end of the Wye Valley, together with its own sights including its castle and racecourse, have contributed to its development as a tourist centre. The Chepstow Chamber of Commerce represents businesses in the town and aims to support and encourage their development.

Chepstow town centre has over 130 shops within easy walking distance of 1,000 car park spaces. There are 16 hotels, bars and public houses, and 15 restaurants and cafes. The town has Tesco and Cooperative Food supermarkets in or adjoining the town centre, together with a Lidl store at Bulwark. There is a Homebase store close to the motorway junction. The town has a full range of banks and many independent cafes and restaurants. It also has several independent shops including a department store, Herbert Lewis; national chains represented include W.H. Smith, Peacocks, Wilkinson, Boots, Superdrug, and The Original Factory Shop. The pedestrianised St Mary's Street contains antique shops, gift shops, an independent book shop, coffee shops and restaurants. There are also regular farmers' markets and produce markets in the town centre, and an open air weekly market with over 120 stalls at the racecourse. The town's livestock market closed in the early 20th century.

According to the 2001 Census, Chepstow had relatively high proportions of its population working in the retail and wholesale sectors of the economy (19.6%, compared with 16.3% for Wales as a whole), property services (11.3%, compared with 8.5% across Wales), and transport and communications (9.4% compared with 5.5% across Wales). The proportion working in manufacturing was lower than the average (15.2% compared with 17.3% across Wales), as was the proportion working in health and social work (9.3% compared to 13.0% across Wales). In terms of occupational groups, the proportions of residents in higher status managerial, professional and associate technical posts was higher than average (totalling 44.1% compared with 35.4% across Wales), and the proportions in administrative, personal services and processing work were lower.