Monday 4 July 2022
 Cllr Rufus Gilbert
Growth of ‘shop local’ is a ‘huge opportunity’ for businesses
A consumer survey has revealed that 88 per cent of local people try to buy Devon-sourced goods whenever possible. It presents a huge opportunity for local businesses!
We're encouraging Devon’s businesses to sign up to our Made in Devon scheme to advertise that they are a trustworthy business supplying Devon-sourced products, and that those claims have been vetted by trading standards. Membership is also available to Devon-based companies in other sectors including retail, arts, and services.
And we want to encourage consumers to keep buying quality local products and services which we have in Devon, supporting local businesses to bring long-term, sustainable prosperity to the region and to help in the region’s economic recovery.
Councillor Rufus Gilbert, our Cabinet Member for Economic Recovery and Skills, said:
"The benefits of supporting local are huge. It helps keep money in the community as local businesses have lower overheads like transportation, which, in turn is better for the environment.
"It also helps avoid the supply issues that have been experienced by many national retailers.
“And if businesses can demonstrate that its goods are local it will give confidence to the consumer, and this will help ensure that Devon’s economy continues to recover following the pandemic.”
For more information go to the Made in Devon website.
 Plymouth and South Devon Freeport Outline Business Case approved by the Chancellor
Another significant milestone has been reached for the Plymouth and South Devon Freeport which has now received approval from the government for its Outline Business Case, along with two of its proposed tax sites.
A freeport in Plymouth and South Devon will create a zone designated by the government with certain allowances to boost the economy. These allowances will include lower taxes and customs, such as favourable tariffs, VAT or duties.
This fantastic news for Plymouth and South Devon will result in the unlocking of millions of pounds worth of funding for the region. It will encourage a resurgence of economic activity with businesses more inclined to open in the area, creating thousands more jobs and bringing vast investment into the local community.
This is a huge boost for the whole South West region offering a host of opportunities for the future, whilst aiding faster local economic recovery following the difficulties of the past two years and the unprecedented challenges brought about by COVID-19.
Read the full story on the news page of our website.
 Node enterprise centre set to expand
Work is underway on the expansion of Node, the enterprise centre at Roundswell near Barnstaple.
We’re providing additional investment along with the Heart of the South West Local Enterprise Partnership, and the European Regional Development Fund, to support the growth of the centre by creating an extra 537sq m of flexible office space.
Town Square Spaces Ltd (TownSq) operates the centre which opened in February 2021. Node supports SMEs, start-ups, freelancers and local workers in Barnstaple and the surrounding areas of North Devon and Torridge.
It currently has 37 offices, a coworking space for up to 50 people, a number of meeting rooms and an on-site coffee shop.
The aim is to open the second phase expansion next year to cope with growing demand. The centre exceeded its two-year target inside its first year, letting 64 per cent of its office space after just eight months.
Read the full story on the news page of our website.
 Green Innovation Funding awarded to projects
Six projects have received funding through our Green Innovation Fund.
More than £750,000 is being invested to support innovative projects and technologies which will drive green growth in Devon’s economy.
The grants are supporting Devon’s transition to a Net Zero economy by creating economic growth alongside environmental benefits. By generating new jobs and training opportunities within the low carbon sector and supporting small businesses to implement sustainable change, the Green Innovation Fund bolsters our commitments to both economic prosperity and tackling the climate emergency. The projects are forecast to save around 100,000 tonnes of carbon over the next ten years.
The Green Innovation Fund is funded through our £6million recovery programme which aims to support four key areas during the recovery from the COVID-19 pandemic: small and medium enterprises, employment and skills, the green recovery, and the hardest hit towns and communities.
You can find out more about the projects being supported on our website.
|
