The South Hams has a diverse base of very small to medium sized enterprises (SMEs). There are over 5,000 businesses in total. The large businesses tend to be located in the West of the district, close to Plymouth and the A38 Devon Expressway. Employment and turnover projections show that business confidence is high. The main reason for businesses considering a move is for expansion and the vast majority of these would prefer to remain in the South Hams. [Inner ring: Jobs Outer ring: Businesses]
The South Hams Economy Report 2008 shows that the South Hams economy grew at 6.3% per annum compared with a national growth rate of 5.6% per annum between 1998 and 2008. However, the manufacturing sector continued to perform higher than nationally but its average rate of growth lessened – between 1998 and 2008 growth was 1.4 per cent per annum but only 0.7% per annum between 2003 and 2008. This has been compensated by strong growth in the public sector, construction, distribution, transport and communications, business services and agriculture – again showing a rise in farm incomes in 2008. There has, however, been a ‘flattening off’ in retailing since 2006. Total employment grew between 2003 and 2008 by 2.7% per annum. The South Hams’ gross value added (GVA) per head (£16,812 based on the mid year population estimate) expressed as a ratio of the national level has risen significantly from 72.3 per cent in 1998 to 79.5 per cent in 2008 – though it was even higher at 82.2% in 2006. Data on the performance of the district's economy during the economic downturn will be available later in 2011.
The Economic Development team monitors the performance of the local economy through local business surveys and works in partnership with business sectors, agencies and local authorities to improve the prosperity of those living and working in the district.
Contact the Economic Development team via:
South Hams District Council
Follaton House
Plymouth Road
Totnes
Devon
TQ9 5NE
Telephone: 01803 861234
Fax: 01803 861404
Email: Economy.Europe@southhams.gov.uk
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