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26 January 2010, 14:01 | Updated: 26 January 2010, 14:06
The UK's officially out of recession, as the economy grew by 0.1% in the past three months - the first increase for 18 months.
But experts are warning it could take longer for North Devon to recover from the effects of the poor economy.
Steve Pitcher is the Chief Executive of North Devon+, which is aiming to improve the economy and regenerate the area.
He said, "We're looking to encourage new jobs in new sectors which will have better long term prospects, and obviously that will involve new skills as well."
It's hoped the off-shore windfarm proposed for the area around Lundy Island will provide new opportunities for people in the area.
To hear more from Steve Pitcher, click here.
Although some businesses have done well throughout the recession, it's thought the majority of businesses have had to make some cuts, either in the amount of profit they make, or in the resources they use.