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WEST SOMERSET ECONOMIC STUDY
PROJECT SUMMARY
An analysis and review of the current economy of West Somerset, by reviewing past studies and initiatives, community and business consultation, with the aim of formulating an action and delivery plan to address economic performance within the area.
The study will consider employment and enterprise trends and identify poorly performing economic hot spots as well as identifying areas ripe for accelerating sustainable economic growth in the district
ABOUT THE PROJECT
The proposal is partly in response to the government recognising that the problems of West Somerset’s economy are so severe that it should be allocated transitional Working Neighbourhood funding.
This research will identify how the West Somerset Economic Task Force ( a partnersip of public sector agencies and private sector businesses) will achieve the objectives of the Regional Economic Strategy, including the following priorities: support for business productivity, encouraging new enterprise, delivering skills for the economy, competing in the global economy, promoting innovation, improving participation in the economy, plan sustainable and successful communities and improve transport networks. In partnership with Into Somerset, the Task Force will be enabled to identify where the opportunities are within the district to achieve greater inward investment, and how appropriate business support can be provided to complement the new provision being offered by Business Link later this year.
This study aims: to identify the key social, economic and environmental trends in the district; to develop a clear vision, smart objectives and priorities to take account of future business needs; and to identify major opportunities to develop a thriving local economy in West Somerset.Robust research which will provide West Somerset Economic Task Force with a clear vision, smart objectives and priorities and actions to take account of future business needs. The research will also identify major opportunities to develop a thriving local economy in West Somerset directly addressing the key challenges of worklessness, skills shortages and enterprise development.
The research is being undertaken by EKOS Consultants and is expected to be completed by January 2009.
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