Devon, a county celebrated for its picturesque landscapes and vibrant communities, is increasingly focused on fostering sustainable economic growth. A key driver of this ambition is the work being undertaken through initiatives like those coordinated and supported by https://newprosperitydevon.org. This organization serves as a crucial nexus point, connecting local businesses, community groups, and governmental bodies to realise a shared vision of prosperity for the region. The focus isnât solely on traditional economic indicators; itâs about building a resilient, inclusive economy that benefits all residents of Devon, while protecting its unique environmental assets.
Recognising the interconnectedness of economic, social, and environmental wellbeing, New Prosperity Devon champions a holistic approach to development. This includes supporting innovation, promoting skills development, and advocating for policies that encourage responsible investment. It plays a vital role in facilitating collaborative projects, bridging gaps between different stakeholders, and unlocking opportunities for growth. The organisation's commitment extends beyond mere financial prosperity; it actively strives to enhance the quality of life for Devonâs residents, ensuring that economic advancement goes hand-in-hand with social equity and environmental sustainability. This is achieved through strategic partnerships and a dedication to long-term planning that addresses the evolving needs of the county.
One of the core pillars of New Prosperity Devonâs strategy is its unwavering support for local businesses. In a world increasingly dominated by large corporations, maintaining a thriving ecosystem of small and medium-sized enterprises (SMEs) is critical for a diversified and resilient economy. The organisation offers a range of resources and programmes designed to help businesses of all sizes overcome challenges and achieve their full potential. This encompasses access to funding opportunities, mentorship schemes, and tailored business advice. Furthermore, New Prosperity Devon actively promotes the âShop Localâ ethos, encouraging residents to support their local businesses and contribute to the economic wellbeing of their communities. A significant aspect of this support involves simplifying access to grants and funding schemes, which can often be complex and time-consuming for small business owners to navigate.
Recognising that innovation is a key driver of future economic growth, New Prosperity Devon actively invests in initiatives that promote technological advancement and digital adoption among local businesses. This includes workshops and training programmes designed to enhance digital skills, as well as support for businesses looking to embrace new technologies such as artificial intelligence and data analytics. The organisation understands that the digital landscape is constantly evolving, and itâs committed to ensuring that Devonâs businesses have the knowledge and resources they need to stay competitive. Facilitating connections between businesses and research institutions is also a key aspect of this strategy, allowing for the transfer of knowledge and the development of innovative solutions to local challenges. This open innovation approach fosters a dynamic business environment.
| 2021 | 150 | 500,000 |
| 2022 | 220 | 800,000 |
| 2023 | 280 | 1,200,000 |
The table above highlights the increasing impact of New Prosperity Devonâs business support programmes over the past three years. The steady rise in the number of businesses supported and the total investment leveraged demonstrates the effectiveness of the organisationâs approach and its growing influence within the Devon economy.
A skilled and adaptable workforce is fundamental to a thriving economy. New Prosperity Devon places great emphasis on ensuring that Devon residents have access to the education and training they need to succeed in the modern labour market. This involves collaborating with local colleges, universities, and training providers to develop programmes that align with the needs of local employers. The organisation actively promotes apprenticeships and vocational training as pathways to skilled employment, recognising the value of practical, hands-on learning. Furthermore, New Prosperity Devon champions lifelong learning, offering opportunities for residents to upskill and reskill throughout their careers. Addressing skills gaps is a continuous process, requiring ongoing dialogue between education providers, businesses, and community representatives.
With the growing importance of science, technology, engineering, and mathematics (STEM) fields, New Prosperity Devon is committed to promoting STEM education and careers among young people. This includes supporting STEM outreach programmes in schools, providing funding for STEM-related projects, and fostering partnerships between schools and local STEM businesses. The organisation recognises that inspiring the next generation of STEM professionals is crucial for driving innovation and economic growth in Devon. By showcasing the exciting and rewarding career opportunities available in STEM fields, New Prosperity Devon aims to attract more young people to pursue these disciplines and contribute to the countyâs future success. This includes initiatives designed to encourage girls and underrepresented groups to consider STEM careers.
These key initiatives demonstrate New Prosperity Devonâs commitment to building a skilled workforce equipped for the challenges and opportunities of the 21st century. Investing in human capital is seen as essential for long-term economic prosperity.
Adequate infrastructure and connectivity are essential for supporting economic activity and improving the quality of life for Devon residents. New Prosperity Devon advocates for investment in key infrastructure projects, including improved transportation links, high-speed broadband, and renewable energy infrastructure. The organisation recognises that addressing infrastructure gaps is critical for attracting investment, facilitating trade, and connecting communities. It works closely with local authorities and other stakeholders to develop and implement infrastructure plans that meet the needs of the county. This includes advocating for sustainable transport solutions, such as improved public transport and cycling infrastructure, to reduce carbon emissions and promote healthier lifestyles. Understanding the importance of digital inclusion, New Prosperity Devon also champions initiatives to extend broadband access to rural communities.
A key focus area within infrastructure development is the promotion of sustainable transport and green infrastructure. This encompasses investments in electric vehicle charging infrastructure, walking and cycling routes, and public transport networks. New Prosperity Devon recognises the importance of reducing carbon emissions and creating a more sustainable transportation system. Simultaneously, investing in green infrastructure â such as parks, green spaces, and tree planting â not only contributes to environmental sustainability but also enhances the quality of life for residents and boosts the attractiveness of Devon as a place to live and work. This holistic approach acknowledges that economic development and environmental stewardship are not mutually exclusive but are intrinsically linked.
These actionable steps, advocated by New Prosperity Devon, outline a clear path towards a more sustainable and connected Devon. The organisationâs proactive stance on infrastructure development is crucial for unlocking the countyâs economic potential.
Devonâs rural communities are an integral part of its identity and economy. New Prosperity Devon is committed to championing rural prosperity and ensuring that these communities have the opportunity to thrive. This involves supporting rural businesses, promoting tourism, and addressing the unique challenges faced by rural residents, such as limited access to services and employment opportunities. The organisation recognises the importance of diversifying rural economies and fostering innovation in rural areas. Supporting sustainable agriculture and promoting local food production are also key priorities. New Prosperity Devon works closely with rural community groups and local authorities to develop and implement strategies that address the specific needs of each rural area. Addressing the issue of affordable housing in rural areas is also a significant focus.
Looking ahead, New Prosperity Devon is committed to expanding its impact and driving further economic growth in Devon. This will involve strengthening partnerships with key stakeholders, exploring new funding opportunities, and adapting its strategies to address emerging challenges and opportunities. The organisation is particularly focused on fostering collaborative growth, bringing together businesses, communities, and governmental bodies to work towards shared goals. A crucial area of focus will be resilience planning, ensuring that the Devon economy is well-prepared to withstand future shocks, whether they be economic downturns, climate change impacts, or technological disruptions.
A recent initiative, the âDevon Innovation Acceleratorâ, aims to provide targeted support to high-growth potential businesses in the county. This programme will offer mentoring, access to funding, and networking opportunities to help these businesses scale up and create jobs. By nurturing local talent and fostering a supportive ecosystem for innovation, New Prosperity Devon is laying the foundations for a more prosperous and sustainable future for Devon, demonstrating its dedication towards not only economic advancement but also a better quality of life for all its residents. Its continuous evolution and commitment to collaborative solutions position the organization as a vital element for Devonâs ongoing success.
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