North Somerset Economy - An Overview
North Somerset is home to over 8,000 businesses (source: ONS 2018) from SME’s scaling up to nationally recognised brands across diverse sectors including Yeo Valley, Costain, Smurfit Kappa, Oxford Instruments Plasma Technology, Bristol Port, Bristol international Airport.
- Average annual growth of 4.1% over the last 5 years – above West of England average. Economy worth £4,129m as measured by Gross Value Added (GVA).
- Labour productivity over £50,000 per full time employee.
- 8,700 active businesses and growth in overall numbers surviving year on year since 2011.
- 104,400 people economically active.
- 100,200 in employment (80.1% vs. GB 73.4%).
- 8,000 new jobs between 2010 and 2015.
North Somerset has a diverse and growing economy with the number of active enterprises having expanded by 10.2% since 2009 which is higher than the rate of growth for England.