7 October 2024
A new report details the high value manufacturing sector’s scale and growth potential across the region.
A report developed by the Great South West Partnership in collaboration with the High Value Manufacturing Catapult has highlighted the South West’s potential to drive innovation, support clean energy and contribute to national resilience, while creating high-value jobs across multiple key sectors.
The document had input from over 60 organisations across the region and positions the area as a key player in the UK’s renewed industrial strategy.
With £7.9bn of gross value added (GVA) generated annually by the high value manufacturing sector, the South West is a growing powerhouse in manufacturing. The report has identified the South West’s strengths across aerospace, marine, defence, clean energy, and food and drink.
Karl Tucker, Chair of the Great South West Partnership, said:
High value manufacturing is a cornerstone of our region’s economy, reflecting our world-class innovation and competitive edge in the global market. We have the talent, the infrastructure, and the ambition to support the UK’s Industrial Strategy, particularly in green energy and defence. Now we need the Government’s support to ensure that our industries continue to grow and thrive.
Katherine Bennett CBE, CEO of High Value Manufacturing Catapult, said:
This report highlights the transformative potential of advanced manufacturing in the Great South West. The insights it provides are critical to understanding how we can accelerate the commercialisation of innovations, strengthen the UK’s manufacturing base, and unlock opportunities for high-value jobs and prosperous communities. We look forward to working with partners across the region to bring these opportunities to life.
The report will now serve as a key document for collaboration between businesses, universities and stakeholders to drive the sector forward. The Great South West Partnership will use the findings to engage with Government and investors to unlock new opportunities for the region’s manufacturing capabilities.
Download the report here:
https://greatsouthwest.co.uk/insights/