Regional Profile Tiverton & Mid Devon. Cordant People Be Integral

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1 Regional Profile Cordant People Be Integral

2 Overview of Major Industries Future Challenges Summary Tiverton & Mid Devon

3 Overview of History Tiverton is a town in the County of Devon; it is the major town in Mid Devon, and also the administrative centre for the district with a population of 38,331. The town s name is conjectured to derive from Twy-ford-ton or Twyverton, meaning the town on two fords, and was historically referred to as Twyford. Mid Devon is strategically located at Devon s Gateway having excellent access links via the M5 Motorway, the A361 North Devon Link Road and its mainline rail services from Tiverton Parkway Railway Station. It also benefits from its easy links with Exeter International Airport and the South West Ports.

4 Overview of The Environment of Mid Devon The natural environment of Mid Devon is of a high quality. The district borders Dartmoor and Exmoor National Parks. There are 13 internationally recognised Sites of Special Scientific Interest and over 200 country wildlife sites. The quality of the natural environment is matched by the richness of its cultural heritage with many listed buildings, Conservation Areas and Scheduled Monuments within the district. Due to its geographical position, proximity to urban centres, largely rural character and a certain amount of land of high environmental quality, Mid Devon is well positioned to accommodate economic growth. The attractiveness of the rural landscape should be used as a catalyst to attract economic development.

5 Overview of Population The district has a resident population of around 76,000 people, of whom 46,000 are of working age and 29,000 are employed. Within Mid Devon there are around 3,400 businesses which generate, in aggregate, about 23,000 employee jobs. When considering a range of metrics, Mid Devon accounts for roughly 10% of Devon s economy. Mid Devon has a growing population of working age persons and is located within easy reach of the higher level education, services and other facilities of the City of Exeter to the south and Somerset s County Town of Taunton to the north. Mid Devon s population is predicted to increase to 93,500 by The population is predicted to rise by 23% by 2033 with 89.1% increase in those people over 65 and 190% growth in those people over 85. Much of the increase is due to inward migration from other parts of the UK with the largest increase is in those of retirement age.

6 Overview of Economic Profile and Key Issues The economy of Mid Devon is dominated by retail distribution and manufacturing businesses, mainly focused on the three market towns: Tiverton; Cullompton and Crediton. Cullompton: Located 12 miles north of Exeter and situated adjacent to the M5 (the main transport corridor through Devon), Cullompton is the second largest town in the district with a population of over 8,800. The town is also close to mainline rail services from nearby Tiverton Parkway making the area attractive to commuters. Crediton: The historic market town of Crediton, with a population of over 7,700, is situated 7 miles north west of Exeter on the A377 Exeter to Barnstaple road, at the junction with the A3072 to Tiverton. Agriculture is also a significant influence on the economy of Mid Devon, particularly in rural areas, with food processing a major part of manufacturing. Furthermore, Mid Devon is a popular area for having a significant number of small businesses employing fewer than 10 employees. Up to a third of the resident population commutes out of the District for work, particularly from the Crediton and Cullompton areas. There are a high proportion of part-time and self-employed workers. There is an urgent need to improve the economy of Mid Devon by attracting higher-waged industries into the area to provide better job opportunities and wages for its residents. It also needs to improve the skills base in the District through training and education.

7 Overview of Economic Profile and Key Issues As a recruitment agency we appreciate that people prefer to live where they can acquire good jobs, skills and advancement as well as enjoy affordable housing and a good quality of life. However, for communities to maintain and increase their competitiveness it is essential to have a highly committed and skilled workforce and skills shortages have a significant impact on competitiveness. Key Issues Include: The key challenge faced by Mid Devon s economic development is job creation and attracting and retaining skilled people. Up to a third of Mid Devon s working population currently travel outside the district to Exeter for work. 22.1% of Mid Devon s workforce is employed in manufacturing, however Mid Devon is seeking to broaden the employment base and move manufacturing up the value chain to create a wider set of employment opportunities. The establishment of a strong and relatively healthy manufacturing base within Mid Devon s economy can be regarded as a positive starting place to work from to develop further opportunities. Developing the manufacturing sector is a major Government policy push at the moment. Mid Devon has an aging population. There is a need to provide a range of highly skilled, well-paid jobs to encourage and retain a young workforce to live and work in Mid Devon. A lack of available employment land over the past decade has led to low levels of new inward investment and economic development.

8 Major Industries Employment/Industry A Large Business Base, supported by High Levels of Enterprise Micro businesses form the core of the business base, contributing to Mid Devon s business density, which exceeds the regional and national average. The business base is supported by high levels of self employment, suggesting a strong entrepreneurial culture. The dominance of small employers means that the economy should be less vulnerable to the impact of business closures, which can be severe in areas with high dependence on single employers. Given the business structure, it is important to consider how small businesses (including those run by a sole trader) can be supported to grow their operations and create new employment opportunities. Agriculture is an integral part of the Mid Devon economy and wider community Devon has one of the lowest population densities in the UK and Devon is a largely rural county with Dartmoor being the largest open space in the UK. Agriculture and Tourism form key parts of the local economy. Textile Manufacturing Employment levels in the textile manufacturing sector are fourteen times the national average, largely reflecting the presence of Heathcoat Textiles in Tiverton, which has been a major employer in the area for 200 years. The company has diversified over time and now includes the hi-tech manufacturing of engineering textiles (e.g. manufacturing fibres in airbags).

9 Major Industries Employment/Industry Manufacture of Food The high levels of employment in the manufacture of food (which are four times the national average) reflects the presence of the 2 Sisters poultry processing plant in Willand one of the largest firms in the South West, and a range of small and medium companies including Arla Dairy and Crediton Confectionary. These companies contribute to the wider food and drink sector, which includes beverage manufactures such as Aston Manor and traditional agricultural companies which have diversified into the sector. High proportion of residents aged 65 increased demand for care services Despite the below-average representation of the overall health and social care sector, employment in the residential care sub-sector is highly represented. This reflects the higher proportion of residents aged 65 and over when compared to the national population profile, increasing demand for these services.

10 Major Industries Strengths of Mid Devon Strengths of Mid Devon A high quality environment - providing an excellent quality of life for residents and a key message for attracting additional investment and visitors into the district. Relative sector strengths in information service activities (IT), and manufacturing of textiles, paper, motor, chemicals & food. Significant skills base and expertise in the manufacturing industry. High incidence of self-employment. The District s position along both the M5 and the A361 (North Devon link road) mean much of it is well placed to attract business investment. From Tiverton Parkway it is possible to travel by rail to all mainline destinations in the UK and beyond. The proximity of Mid Devon to the rapidly growing Exeter Airport and to Bristol International Airport means that domestic and international travel by air is easily accessible. High rates of economic activity. Higher business density than Devon as a whole (number of businesses per person of working age). Higher business birth rate than Devon as a whole. High quality natural environment with a number of attractions and proximity to both Exmoor and Dartmoor.

11 Major Industries Opportunities, Skills & Skills Shortages Opportunities Skills Skills Shortages An increasing population base, with emerging untapped skills and entrepreneurial spirit. Opportunity for building on and strengthening marine, creative, environmental technologies and food and drink sectors - opportunity to develop more knowledge-intensive employment options. Growing year-round season of tourism and consumer interest in the environment. Access to Universities in Exeter, Plymouth and Bristol offering research and development, technology transfer and business development support. The skills profile of Mid Devon s working age population is similar to the national picture, but consistently lower than the county-wide average. In particular, a higher proportion of the Mid Devon working age population have no qualifications. In terms of higher level skills (NVQ L4+), Mid Devon ranks sixth out of the eight districts in the county. Improving the Resident Skills Base Improving the skills profile of residents is important to ensure that residents are equipped to access and progress in employment and also for Mid Devon to compete effectively as a location for business investment. The availability of a large, highly skilled workforce is a major attraction for employers Following the availability of premises, the quality of the workforce and the availability of the required skills is one of the biggest factors which influence a company s decision on location. Smaller firms are being hit by a growing shortage of skilled workers which is proving to be a significant barrier to growth. A survey (June 2014) of almost 2,500 firms showed that nearly a third reported problems recruiting suitably skilled employees. We believe it is essential for every community to invest in young people now and equip them with the skills that both they and British businesses need to thrive.

12 Future Challenges Sectors - Forecast Absolute Growth The majority of sectors in Mid Devon are forecast to grow in both employment and real value added terms between 2014 and 2025, with the exception of mining, agriculture and manufacturing which are expected to experience employment decline. Business and finance and construction are expected to drive employment growth, accounting for two thirds of the additional jobs. The forecast net increase of 700 jobs in each of these sectors is expected to be more than double the increase of any other sector. The business and finance sector is also forecast to experience the greatest increase in real value added. However, in comparison to employment forecasts, value added growth is expected to be more balanced across a number of sectors. The timing of employment growth will vary by sector: Business and finance, distribution and hospitality and particularly construction are forecast to make a more significant contribution to employment growth between 2014 and 2020, while the public sector, accommodation and food, and transport and storage are expected to play a greater role between 2020 and Positive Growth Forecasts The growth forecasts for Mid Devon are positive, with both employment growth and real value added growth projected to slightly exceed the national average. This is expected to result in an additional 2,100 additional jobs, including 700 jobs in business and finance. This will increase the number and range of local opportunities.

13 Future Challenges The Importance of Employing Young People At Cordant People we are urging businesses throughout Mid Devon to take action now, to up-skill their workforce and consider the future in order to prevent the bubbling skills crisis from boiling over. Cordant People in Tiverton aim to: Motivate young people improving aspirations and work readiness Advise young people about the appropriate skills for key sectors and promote STEM subjects Encourage a spirit of enterprise Talent retention - improve links between employers and students within FE/HE to ensure talent is retained Work with employers to increase the number and quality of apprenticeship opportunities Emphasise on apprenticeship provision and delivery within key sectors Tailor skills initiatives to ensure a workforce sufficiently skilled to meet emerging opportunities.

14 Future Challenges Advantages of recruiting young people Young people often have an abundance of energy and a natural thirst for knowledge, which can rub off on colleagues and help invigorate the workplace. As a recruitment agency we witness how young people tend to push themselves, wanting to make a lasting impression and prove what they can do. Their sheer determination to complete their work can inspire colleagues around them. Therefore, if a company puts sufficient time and thought into recruiting young people, it can subsequently provide a very positive return on investment. Fresh ideas It is also important to remember that any young person could be the next Bill Gates or Mark Zuckerberg. Furthermore, although they lack experience, new young people are generally easier to train, due to being driven and eager to excel.

15 Summary Cordant s Objectives At Cordant People we recognise, completely, that the long-term economic health of towns and cities rests on investment in citizens skills and professional qualifications. Cordant People constantly works with businesses/industry in order to develop the economy of Mid Devon and to create a future for its young people. Employers should recruit locally, appreciate community talent and nurture a skilful neighbouring workforce There is a need to provide a range of highly skilled, well-paid jobs to encourage and retain a young workforce to live and work in Mid Devon. Every organisation needs a constant supply of candidates with the necessary skills because this is the foundation of business success. As a recruitment agency we understand, completely, that businesses will create jobs in areas with the highest-skilled, highesteducated workers, the most advanced transportation and communication as well as the strongest commitment to research and technology. Cordant People constantly endeavour to develop and nurture relationships which they have with all their candidates on their database, as well as continually seeking and engaging with new candidates to attract fresh talent. Furthermore, we acknowledge our responsibility that we must always be at the forefront of industry knowledge. It is our objective to help and assist all companies in Mid Devon to recruit and employ successful candidates in order that they may fulfil business targets and compete in today s increasingly competitive global markets.

16 Cordant People Supporting local businesses with their employment needs. Be Integral