Somerset Economic Development Needs Assessment
Hardisty Jones produced an Economic Development Needs Assessment (EDNA) for the County of Somerset. This was commissioned to inform the Somerset Local Plan to 2045 and the Somerset Economic Strategy.
Client
Somerset Council
Services
In 2024, Hardisty Jones was appointed to produce an Economic Development Needs Assessment (EDNA) for the County of Somerset. This was commissioned to inform the Somerset Local Plan to 2045 and the Somerset Economic Strategy. This was the first EDNA conducted since Somerset became a Unitary Authority in 2023, bringing together the four district councils of Mendip, Sedgemoor, Somerset West & Taunton, and South Somerset. In particular, the work was commissioned to consider four functional economic market areas (FEMAs).
As part of the report, Hardisty Jones began by setting out an economic baseline for Somerset and its four FEMAs. A comprehensive policy and strategy review was conducted, alongside consultation with commercial property market stakeholders, followed by a SWOT (strength, weaknesses, opportunities and threats) analysis.
The next phase was the analysis of two economic growth forecasts, one by Cambridge Econometrics and one by Oxford Economics, assessing the forecast growth in total employment and GVA in Somerset over the Plan period. An analysis by sector was then undertaken.
Based on the economic growth forecasts, we determined the net additional requirements for employment sites and premises over the Plan period. To account for change in the market and economy, we have taken into account allowance for replacement, choice and flexibility and the use of existing employment sites. To conduct some sensitivity testing, we have taken account of macro- and micro-economic trends that may impact the demand for employment sites and premises, and have considered alternative forecast scenarios.
Throughout this work, various policy documents and data sources were consolidated from the former district areas of Somerset to inform our work and to ensure a comprehensive analysis.
Our clients said:
“I just wanted to say a big thank you for the final Somerset EDNA, It’s an excellent document and I’m very pleased with the final result.”
- Laura Higgins, Principal Planning Policy Officer, Somerset Council.
If you would like to talk to us about how we can support your efforts to assess economic development needs, please get in touch using the project lead contact details provided below.
