The Heart of the South West has a large population of almost 1.7 million.
HotSW economy worth 2.5% of England total
Per capita productivity average more or less matching the national average.
Plymouth population 256,400
Exeter population 118,000
Taunton population 65,000
Yeovil population 48,000 (2011 Census)
78.7% economically active (77.4% UK average)
13.8% skilled trade occupations (10.5% UK average)
6.4% process plant and manufacturing operations (ONS, 2014).
Unemployment rate 2.3% (UK average 3.7%) (NOMIS, 2013).
137,000 in professional occupations
77,900 managers, directors and senior officials
Higher proportion of skilled tradespeople than the UK as a whole.
Despite skills levels being above the national average, labour costs are average at £11.24 per hour (£13.25 UK average).
Contribute £410m (GVA) to local economy
Create over 7,500 jobs
Contributes 1/5th of UK marine sector.
Cornwall and North Devon offshore wind and tidal resources up to 9.2 GW of energy.
2012/13 saw a 25% increase in renewable energy projects in the Heart of the South West.
Aerospace & Advanced engineering:
Aerospace and advanced engineering industries employ over 23,000 people, contributing over £1bn to the economy.
EDF Energy’s £16 billion Hinkley Point C nuclear power station will be Europe’s largest engineering project and the UK’s largest inward investment project.
Hinkley Point C in Somerset is to be the UK’s first new nuclear power station in 25 years.
Hinkley Point C is estimated to provide in the region of £100m/year additional GVA into the local economy during the construction process.
The MET office’s £97m Supercomputer, within Exeter Science Park, will advance environmental futures, offering long-term, detailed global climate prediction and agri-management big data.