Shepton Mallet - Economy

Economy

There is a local perception that Shepton Mallet has been in economic decline for some time. Some 350 manufacturing jobs were lost in the late 1990s and early years of the 21st century. However, the District Council asserts that, despite the loss of the manufacturing jobs on which Shepton Mallet has been historically dependent, more jobs in distribution, business services and public administration, health, education, quarrying, construction and hi-tech services (from companies such as the ISP Easynet) have been created, thereby creating a more balanced economy. In 2001, there were slightly more jobs in the town than economically active people, resulting in a small in-flow of workers.

The town centre is fairly small with a high proportion of empty premises in Market Place and the north end of High Street adjacent to Market Place. However, the pedestrianised Town Street which runs north from the Market Place to Waterloo Bridge has had significant investment in its heritage in the last five years and now enjoys almost full occupancy of its shops. Over the course of 2010 an 'artisan quarter' of independent shops is starting to emerge in Town Street and Market Place.

Since 2004, Shepton Mallet’s town centre buildings have benefitted from two conservation schemes, the Heritage Economic Regeneration Scheme and the Townscape Heritage Initiative Scheme, which provided grants for the repair of buildings, reinstatement of architectural features and enhancement of public spaces, as well as community involvement, education and training. As the body which made the bid for the funding, Mendip District Council has administrated both schemes, but all decisions are made by a steering group comprising the main stakeholders in the town.

For centuries there has been a general market held each Friday in the Market Place. The market has been in decline for some years and in 2010 attempts were made to revitalise it. However, after initial interest the number of stallholders slowly decreased.

The furniture store Haskins, which originated in Shepton Mallet in 1938, has its principal showroom in the High Street within Haskins Retail Centre, which also includes a number of others shops including Aldi supermarket, Edinburgh Woollen Mill, Ponden Home, Pavers Shoes and an outlet clothing store. Retail jobs in the town increased in number in 2006–2007 when a new shopping development, including a large supermarket owned by Tesco, clothes store and other retailers, was constructed on a site just south of the town centre which had once been a factory making Clarks shoes and later Doc Martens boots. This development attracted national media attention when protesters occupied the site to try to prevent the felling of an avenue of trees dating back to the 19th century. It has also divided opinion in the town, between those who hoped it would help to revitalise the town, and others who feared that local traders would be unable to compete, leading to a further decline of Shepton Mallet's high street. There is also the Mulberry Factory Shop located on Kilver Street, near to the previous location of the Mulberry Headquarters.

Shepton Mallet is home to three international alcoholic drinks producers. The Gaymer Cider Company, a subsidiary of C&C Group, produces Blackthorn and Gaymer's Olde English cider. Constellation Brands, former owners of Gaymers, produces Babycham. Family-run Brothers Drinks produces Brothers Cider and runs a contract bottling operation for many other drinks companies.