focus on portsmouth Portsmouth, the great waterfront
city, at the heart of south Hampshire With a strong vision and ambitious plans for growth, Portsmouth has established its position as a great business and investment hub
With a key focus on sustainable economic growth and regeneration, the city has a reputation for playing host to leading businesses, and for fostering a strong business community. The UK’s only island city has bold plans to build on this success with a total planned investment in excess of £2 billion over the next 20 years.
Portsmouth has one of the strongest marine and maritime economies in the UK, as well as being the home to the
Royal Navy. It is also home to global giants in the advanced manufacturing, defence, technology and the aerospace industry, BAE Systems, IBM, Babcock, QinetiQ, Airbus Defence & Space, and PALL Europe to name but a few, sit side by side with SMEs and thriving start-up companies. With Ben Ainslie Racing alongside other high-profile sporting, cultural and festival event programme, the city continues to further its reputation and profile as a location for world-class business, investment and events.
The City
The population of Portsmouth currently stands at 209,000 with a projected growth to 250,000 by 2050, accommodating 18,000 new homes by 2034. Portsmouth’s working population size is 4% higher than the UK average and continues to grow year-on-year to a projected 11% over the next 20 years.
The city council is proud of it business friendly status. Its uniquely dedicated approach assists businesses to grow and thrive. Portsmouth City Council also boosts award-winning support for business start-ups, recognised by the FSB for its committed and joined-up approach.
As a university city, the higher and further academic population plays a key part in the city’s profile. The University of Portsmouth is currently ranked within ‘The Guardians’ top 50 UK universities with a population of 23,000. The first University Technical College (UTC) will be opening this year, supported by key employers from the city. It will boost regional employment and educational attainment and supply a highly-skilled advanced workforce.
Portsmouth’s growth agenda
The city has a wide range of innovative high-profile projects lined up, with committed and sustained investment from Portsmouth City Council. The city council is securing the long-term vision to
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shape and regenerate, resulting in economic opportunities that will resonate across the city, boosting opportunities, skills and aspirations
Tipner and Horsea Gateway
Making best use of these prominent waterfront sites bordering the M275, developments are set to move forward rapidly over the coming years. Securing £48.7 million as part of the Government’s City Deal, the project is estimated to attract £831m in investment. Work is now progressing on delivering at least 1,250 homes and 65,000 sq m of business space. Overall, the project will bring major business benefits to Portsmouth, attracting investment, creating additional business space, strengthening the business community and increasing trading opportunities.
City centre
This is an exciting time for Portsmouth city centre, with significant investment planned and a bold vision in place to reshape the heart of Portsmouth. Developments in the city centre include accommodating up to 4,000 students and hotels. Plans also include a new road and public realm improvements. The University of Portsmouth is intending to create a world-leading city-centre campus over the next decade transforming an important quarter in the city. This hive of development activity
THE BUSINESS MAGAZINE – SOLENT & SOUTH COAST – JULY/AUGUST 2017
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