Economy of Totnes

In March 2007 Totnes was the first town in Britain to introduce its own local alternative currency, the Totnes pound, to support the local economy of the town. Fourteen months later, 70 businesses within the town were trading in the "Totnes pound," accepting them as payment and offering them to shoppers as change from their purchases. The initiative is part of the Transition Towns concept, which was pioneered by Rob Hopkins, who had recently moved to Totnes.

Emphasising the town's continuing history of boatbuilding, between 1998 and 2001 Pete Goss built his revolutionary but ill-fated 120-foot Team Philips catamaran there.

Loss of revenue from Dartington College of Arts (which has moved to Falmouth) has been partially offset by increased tourism due to interest in Totnes's status as a transition town