Depending on which source is used there are between 1260 (Eurostat) or 1395 (ONS) manufacturing units in Cornwall. NOMIS latest figure for VAT registered manufacturing companies is 1285 (2007) which fits the pattern and gives an average of around 1300.
Employment figures are equally as inconsistent. NOMIS reports 21,500 (2012 figures for 2011), of which 5,200 are self employed, on a workplace basis – i.e. 16,300 in employment. On a residents basis, the figure of 22,900 is slightly higher reflecting those that live but do not work within the County.
Eurostat quotes 17,000 employed in its 1262 units i.e. an average workforce of 13.5.
In overall terms NOMIS reports a total residents workforce of 242,000 so manufacturing accounts for 9.5% of that total which is consistent with the GVA figures below.
Gross Value Added (GVA)
Gross Value Added (GVA) is £732m or 10% of the Cornwall total of £7.3bn. This is a consistent figure over a number of platforms. The same data gives Tourism at 7% (£511m) but other statistics put it much higher. Agriculture is at 2.75%; Construction at 9% and Wholesale & Retail at 14%. ICT is at 2.5 % also.
The multiplier effect of manufacturing is greater than for most other sectors of the economy. The Southwest Regional Accounts show that Engineering in Cornwall has an employment multiplier of 1.51 meaning that for every 100 jobs in engineering in Cornwall 51 jobs are created elsewhere in the economy.
We could not find up to date wage figures for Cornwall by sector. However by manipulating Eurostat’s figures we can arrive at an annual figure for manufacturing of £26,850 i.e. £516 per week assuming a 52 paid week year.
Actual contribution depends on whose figures you use but a reasonable assumption would be manufacturing accounts for 10% of the Cornish economy and has a greater multiplier effect. Cornwall’s economy would be very much the poorer without it.
For the full report please see document.