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Economic Growth in the Shropshire Economy

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Economic Growth in the Shropshire Economy A Time of Growth for the Shropshire Economy Matthew Potts BA (Hons) MSc MIED Business Growth and Inward Investment Manager [email protected] 07458 010201 Economic Growth Strategy Aims By 2021: • 12% growth in GVA • 3,700 new jobs • £300 million private sector investment • 1,375 new homes per year Key Growth Sectors in Shropshire • Advanced Manufacturing and Engineering • Environmental Science and Technologies • Agri Tech • Food and Drink • Construction • Business, Professional and Financial Services • Creative and Digital • Health and Social Care • Strong growth in the sector with job numbers increasing by almost a quarter since 2010 (higher than the national average) • The sector made a £705 million contribution to the Shropshire Economy in 2016 • KEY ORGANISATIONS – Grainger and Worrall, Bridgnorth Aluminium, Caterpillar, Salop Design and Engineering, Doncasters • One of the fastest growing sectors in the UK • Global markets forecast to reach £217bn by 2021 • Harper Adams University offers ground breaking research for the industry • Shropshire is amongst the top 5 producers of agricultural machinery • KEY ORGANISATIONS – McConnel, Fullwood, Harper Adams University • Low carbon and Environmental goods and services sector represent a strong growing sector in the UK • Over 7,000 people are employed in the Environmental Industries in the Shropshire • KEY ORGANISATIONS – Jacobs, CREST, E4 Environmental, TG Group, UCS • One of the UKs fastest growing UK sectors, worth £211 million in GVA to the Shropshire Economy • A quarter of all West Midlands dairy and meat processing takes place in Shropshire • 160 specialised food retailers in Shropshire • 105 specialised food wholesalers • KEY ORGANISATIONS – Arla, Muller, Kerry Foods, ABP, Gro Continental • 16% of Shropshire’s larger businesses operate in this sector • The Value of the sector has doubled over the last 20 years and currently contributes 10% (£600 million) to the Shropshire Economy • Shropshire’s population of over 65’s is set to grow by 52% by 2037 • Industry clusters linked to the Robert Jones and Agnes Hunt Orthopaedic Hospital • KEY ORGANISATIONS – Marches Care, Agilent Technologies, Smithers Rapra, Hitachi Solutions, UCS • Rapid growth is predicted in this sector in Shropshire; • 17% over the next two decades compared to 6% growth across all sectors • Key opportunities include the development of the Flaxmill Maltings • Entrepreneurial focus is key • KEY ORGANISAITIONS – AHR, Clear, Igloo, Seeable, Risdon and Rison, UCS • 60% of all job growth in Shropshire is attributable to professional services since 2010 • 27% employment growth in this sector is forecast between 2017 and 2036 with a projected GVA growth of 93% • KEY ORGANISATIONS – Premier Medical, Berrys, Good2Great, Dyke Yaxley, Henshalls, Hatchers Solicitors Developing and Retaining Talent and Skills • Increasing engagement with businesses through Enterprise Co-Ordinator • Engage locally with schools, FE and HE establishments offering routes to employment through work experience, apprenticeship schemes and graduate level jobs • Support and investment alongside UCS/HAU to develop and retain talent locally through defined local curriculum focused on growth sectors A Time of Growth for the Shropshire Economy Matthew Potts BA (Hons) MSc MIED Business Growth and Inward Investment Manager [email protected] 07458 010201.
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