Introduction
The Somerset Economic Prosperity Strategy sets out our approach to bringing about a step-change in economic prosperity in Somerset over the period 2025 to 2045. It aims to build a thriving, fair and green Somerset economy that leads the UK on low-carbon energy, aerospace and defence, high-value manufacturing and digital and data.
The Strategy has been adopted by Somerset Council, shaped by the Somerset Economic Growth Board and informed by business and wider stakeholder engagement as well as a comprehensive evidence base.
The Strategy’s framework for furthering economic prosperity in Somerset is structured around:
- a vision
- goals translating the vision into tangible expected outcomes
- strategic priorities and cross-cutting principles to support realisation of the vision and delivery of goals
Vision for Somerset's economy
The Strategy outlines a vision for Somerset’s economy. Somerset will have a flourishing, fair and green economy, built on our distinctive assets and opportunities for good growth.
An economy that will:
- Capitalise on our distinctive assets and opportunities, leading the UK in low-carbon energy, aerospace and defence, high-value manufacturing, and digital and data.
- Flourish by supporting business dynamism and creativity as well as attracting high-value investment, improving productivity and creating growth and exciting opportunities for Somerset residents.
- Be a fair economy where people and places fulfil their potential, people have improved life chances and well-being and there are greater levels of social inclusion and social mobility.
- Be a green economy that is decarbonised, manages resources efficiently and enhances Somerset’s natural capital.
Goals for Somerset's economy
The Strategy sets out goals for Somerset’s economy.
- To achieve levels of economic prosperity and wellbeing in line with, or above, the national average
- To out-perform the national average on higher-level skills attainment
- To maintain above average employment levels and lift 10,000 people out of economic inactivity
- To transform our deprived communities and ensure their residents are included in Somerset’s future
- To achieve our carbon neutrality and net zero targets
Against these goals, the Strategy defines specific high-level measures and targets for the period to 2035, and then on to 2045.
Strategic priorities and cross cutting principles
To support delivery of the vision and goals, the Strategy identifies five strategic priorities of:
- Distinctive assets and opportunities – We will capitalise on our distinctive assets and opportunities for good growth, driving economic transformation in Somerset.
- People – We will build an aspirational workforce that responds to the current and future needs of our local economy, aligning skills provision and enabling all residents to access opportunities for education, training and employment to achieve their full potential and to thrive.
- Business Environment – We will create an environment that stimulates and supports business start-up, scale-up, innovation and investment; driving growth, competitiveness and productivity.
- Places and Communities – We will shape flourishing rural, coastal and urban places and communities which foster economic opportunity and well-being.
- Infrastructure – We will support delivery of the resilient infrastructure needed for economic inclusion and growth.
These five strategic priorities are underpinned by three cross-cutting principles of: a thriving economy; a fair economy; and a green economy.
The full Somerset Economic Prosperity Strategy 2025-2045 can be viewed here.
The Strategy is a focus for the Invest Somerset Showcase events taking place in September 2025. Details of events and how to engage can be found on our Invest Somerset page.