- 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.