Dorset Council is bringing forward a new and ambitious Economic Growth Strategy, developed in collaboration with partners and businesses. The strategy is set to drive employment, investment, and innovation across the county.
The Dorset Council Plan 2024-2029 lists ‘growing Dorset’s economy’ as one of its key priority areas of focus for the council. This new strategy sets out how the council intends to deliver economic prosperity for the people and businesses of Dorset through four clear objectives:
- Boost economic growth: by identifying and prioritising key projects to stimulate the Dorset economy
- Attract investment: by positioning Dorset as a prime investment location
- Create high-value jobs: facilitate the generation of high-value, highly skilled jobs
- Strategic negotiations: establish clear priorities for negotiations with government and regional partners.
With an economy worth £8.45 billion GVA, supporting 145,000 jobs across 20,000 businesses, Dorset is poised for significant growth. The county boasts strengths in advanced engineering, manufacturing, defence, and security, with many businesses delivering innovative products that contribute to the South-West’s economy.
The opportunity
There are also a range of economic opportunities on the horizon, which could transform Dorset’s economic climate. There are real possibilities to secure investment, jobs and growth through several key economic projects, most notably around clean energy generation and storage, sovereign defence capabilities, and regeneration of our significant population centres.
Councillor Richard Biggs, Dorset Council’s cabinet member for Property, Assets and Economic Growth said:
“I am really pleased that we are taking a new, focused approach to economic growth in Dorset. This new economic strategy aligns with our Council Plan priority of growing a sustainable and prosperous economy for Dorset. In partnership with our stakeholders, we have a comprehensive range of activities planned which align with the strategy’s ambitions and sets out our clear pathway for economic success.
“We are already collaborating with the Dorset Clean Energy Super Cluster to actively pursue a range clean energy proposals which could see Dorset becoming a powerhouse for the UK in the clean energy sector, bringing huge investment to the area.
“We are thinking big for Dorset, bigger than ever before and the outcome could be truly transformative. This is a purposeful, targeted economic strategy designed to capitalise on the vast opportunities out there which we must act on if we are to change the economic future of Dorset.”
Despite its potential for growth, the county faces several challenges, including modest productivity compared to regional and national averages, high housing costs relative to earnings, and a growing population predominantly of post-working age. The council will meet these challenges head-on by focusing on key sectors with growth potential such as clean energy, ensuring a skilled and inclusive workforce, supporting the transition to net zero and promoting sustainable development.
Leadership and implementation
The creation of the new Economic Growth Strategy is being partnered with the establishment of a Dorset Growth Board made up of representative bodies and leaders from business, local government, education, and health sectors. The board will work alongside the council in providing strong leadership for economic growth and will concentrate on presenting the private sector viewpoint of the county’s economic needs and sustainable growth opportunities by maintaining ongoing dialogue with Dorset businesses.
At the Dorset Innovation Park, the council are in advanced negotiations with companies who want to buy land to bring new investment and jobs to Dorset. At the same time, the council is setting up a new arm’s length company to run the Innovation Park in a more dynamic and commercial way. We are currently recruiting for the Chair of the Board and Managing Director for this company.
The draft strategy has been published today (15 May) and will be considered by councillors at the Place and Resources Overview committee on 22 May. It will then go to Cabinet in June for formal adoption.
Read the draft strategy as part of the committee papers – click here and jump to page 19.
