Look for alternatives

Over the past decade or two, Bigastro has relied upon construction as its major source of employment. Those who weren’t employed directly in construction were employed in satellite industries, tiling, plastering, electrical installation etc. As the construction industry prospered, so did the town.

In my opinion, the constructors got greedy; they out priced themselves and at the same time over stretched themselves with their ambitious plans. The builders and town planners believed that the demand for more and more houses would continue and that people would pay whatever price was charged just to own their own home. People were encouraged to borrow until they stretched themselves to breaking point.

It wasn’t just in Spain that this happened, other countries were guilty of the same especially America where reckless lending lead to the collapse of the mortgage market (notably for Fannie May and Freddie Mac). Their toxic debts had been sold off to banks and you know the rest.

Now that the construction industry has all but collapsed, Bigastro has been left with a serious problem. It is time to rethink and find viable alternatives to keep people in work. That is where the CEEI (the European Centre for Innovating Companies of Elche) supported by Impiva (the Institute of Small and Medium Industry for the Valencian Autonomous Government) comes in. This organisation provides support for new companies in emerging sectors of the economy - entrepreneurs in SMEs (Small Medium Enterprises).

Imaculada Martinez, the councillor responsible for this area on the city council, wants Bigastro to become a member of this organisation which at present has a network of four locations, Alcoy, Castellón, Elche and Valencia. As she explains, it is no use folding your arms and complaining about the collapse of construction, you have to get out there and find new markets. Successful companies analyse their weaknesses, plan new strategies and innovate and that is what she wants industrialists in Bigastro to do.

Martinez recognises that changing direction will not be an easy task, it will present many challenges but then what other choices are available.The alternative for Bigastro is to sink completely, to become a town which has no industry to support itself. That is not what the local council want to happen and neither do we.