Fleetwood - Economy

Economy

Fleetwood's economy still revolves around the traditional areas of fishing, tourism, port activity and light industry, but since the early 1970s the town has continued to struggle economically. A Government report in 2006 stated that three of the town's five wards fall into the 5% to 10% most deprived wards in England.

The same Government report noted that the demise of the fishing industry cost Fleetwood some 8,000 jobs, employment in fishing-related industries falling from 9,000 to less than 1,000, mostly in the fish-processing sector. The closure of the ICI Hillhouse works cost the region a further 4,500 jobs. Industrial and commercial development has been at a standstill for fifteen years and only a single commercial employer based in the town has more than 200 employees. The stock of both commercial and residential property is in decline.

While Wyre Borough in general has a lower unemployment rate than the rest of the United Kingdom, Fleetwood's is considerably higher. Using figures indicating benefit claimants as a percentage of total population (usually considered to be about half the 'actual' unemployment rate) the figures for August 2007 are:

Average household income as of August 2007 is as follows):

The town's largest and most prominent single employer is Lofthouse's of Fleetwood, Ltd., manufacturers of Fisherman's Friend—a menthol lozenge popular worldwide and especially in Japan.

In July 2007, a new "Masterplan" for revitalizing the town around a "vibrant waterfront and a revitalized town centre" was submitted to the Wyre Borough Council. Some of the funding would come from an EU cash grant. The Masterplan was funded by Wyre Council, the Northwest Development Agency and English Heritage. The plan has three main areas for development:

• Transport: Improvements to the A585 link road. Restoration of the railway link including a new railway station in Fleetwood. Improved links to the riverside coastal paths and Fleetwood Marsh Nature Reserve.

• "Seafront scene transformation": new waterfront environment with housing, beach sports, family area and bigger entertainment attractions. The original plan placed housing on land opposite the Mount Hotel on land currently used as a nine-hole pitch and putt course, but, after opposition from residents, this part of the plan was dropped. The waterfront would have a discovery and entertainment centre focused around a re-fashioned Marine Hall, with better health and fitness facilities nearby.

• "Attractive new look for centre": the Masterplan includes plans for more open spaces and more national name shops on Lord Street, with Albert Square and Station Road earmarked as public squares. A new landmark square and heart of the town is proposed on both Lord Street and London Street with cafes, bars and restaurants.