Shropshire Council aims to increase the county’s economy by 12 per cent over the next three years.
The ambitious target was revealed alongside a series of aims that form part of the unitary authority’s Economic Growth Strategy.
Matt Potts, business growth and investment manager, also made assurances that the economy is not “broken” in Shropshire.
He said: “The economy in Shropshire is by no means broken, but there is potential for growth.
“We need to look at how we can continue to grow and how we can bring new investments in.”
Shropshire currently has 15,400 enterprises, but just 35 companies employ more than 250 people.
Mr Potts said as part of the strategy the council aims to see £300 million investment from the private sector, the creation of 3,700 new jobs, and the creation of 1,375 new homes every year.
Key sites being explored include the Oswestry Innovation Park where 1,400 jobs are due to be created and the Flaxmill in Shrewsbury which is opening in March 2021 with office space.
Other areas include the ongoing development of the M54 corridor and the redevelopment of the former Ironbridge Power Station which is planned to include homes, leisure and retail.
Mr Potts also explained efforts need to go into retaining skilled young people from the county.
He continued: “There is an opportunity here in Shropshire of the lifestyle which we can use to attract people, with the schools we have and the countryside – then we can say to those people who are already living here to bring their businesses here too.”
Mark Barrow, the newly appointed director of place, added that tourism in Shropshire is also highly valued.
He said: “The visitor economy in Shropshire is worth something like £7 million and 15,000 jobs. There is something about recognising how important that is as an economic asset to the county – it’s an area that we are now looking at with a fresh pair of eyes.”
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