South West leaders demand government backing to unlock region’s £6bn growth potential

More than 500 business leaders, government officials and innovators gathered in Exeter for the Great South West Annual Conference 2025, a major event positioning the region at the forefront of the UK’s Industrial Strategy.

Held at Sandy Park on Friday 17 October, the conference showcased how the South West is contributing to national priorities such as clean energy, digital innovation, defence, advanced manufacturing and climate science, many of which are industries rooted in and around Exeter.

With its strategic location, growing business community and world-leading organisations like the Met Office and the University of Exeter, the city was highlighted as a key player in delivering national growth. However, leaders said government backing is now needed to fully unlock the region’s potential.

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The event brought together figures from across business, academia and politics, including Minister of State for Defence Readiness & Industry Luke Pollard. Discussions focused on boosting productivity, scaling innovation, attracting investment and developing skills across the South West.

Exeter MP Steve Race, who attended the event and took part in a panel, said the conference showed what the region can achieve when it speaks “with one voice”.

He said: "It was an energising day and a real illustration of what our region can achieve when over 500 business leaders, government officials, politicians, regional leaders and innovators come together. As Exeter’s MP, and as the Chair of the Great South West all-party parliamentary group, I am firmly pro-business and believe passionately that the South West has what it takes to be an even bigger engine of growth for the UK."

Steve emphasised Exeter’s growing role in strategic sectors such as climate science, clean energy and food security, but said the region must now push harder for investment, devolution and greater powers. He argued that Exeter’s current council structure limits its ability to influence major decisions compared to other cities with mayoral authorities.

"Our region’s lack of devolution has held us back," he added. "Despite generating around £6bn in GVA, Exeter still operates as a district council. To deliver growth and jobs, Exeter needs a stronger voice (potentially as a unitary authority) within a wider combined mayoral structure alongside places like Plymouth, Torbay and coastal Devon."

He also highlighted the role of innovation, particularly from Exeter-based start-ups and institutions. Race invited Tom Adeyoola, Executive Chair of Innovate UK, to the event to discuss how new businesses in the city and wider region can be supported to scale up through funding, skills and collaboration.

Karl Tucker, Chair of the Great South West Partnership, said the South West is “not only ready to deliver the UK’s Industrial Strategy, we are already doing it.”

For Exeter, this means a chance for potential economic growth and jobs as the city is being positioned as a hub for clean energy, digital innovation, climate science and advanced manufacturing. 

The conference concluded with a united message from regional leaders: the South West is ready to drive the UK’s growth, but government support and devolution will be vital to turn ambition into action.