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 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 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.
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 will inject new life and vibrancy into the city centre. With increased footfall and better road connections, there will be greater retail opportunities, and a much-needed lift for the night-time economy,
In any city the level of business opportunities and growth achieved is dependent on the provision of sustainable connections and investment in infrastructure. The way people travel around the city is key to ensuring that the economy works well. One of Portsmouth City Council’s key priorities is to realign the city centre road network. The focus will be on increasing public transport and creating routes which will bring pedestrians, cyclists and bus passengers to the heart of the city.
Year of the carrier
2017 will see the arrival of the Queen Elizabeth Class aircraft carriers to the Dockyard in Portsmouth, the largest ships the Royal Navy has ever built. The new carriers will be based in Portsmouth for 50 years; will generate 2,000 new jobs in the local area and a £100m investment programme.
Portsmouth is carrying out an ambitious flood defence programme around the northern part of Portsea Island and is working on a scheme along the Southsea seafront to the value of £44m. This significant investment will act as an enabler, ensuring the future security for businesses and encourage long-term investment.
Portsmouth businesses and investors are growing, the city is changing shape to encouraging a new skyline of high-rise and iconic buildings. It is an exciting time to be business in Portsmouth.
A new business gateway to the south
Dunsbury Park is a major 45-acre industrial and distribution business park which will create 3,500 jobs.
International clothing brand Fat Face is the first tenant of this commercial development which Portsmouth City Council is building and managing on council-owned land next to junction 3 of the A3(M). Fat Face has taken 80,000 sq ft for their global headquarters with a 40,000 sq ft expansion option.
The wider Dunsbury site represents a major new business development opportunity for the Solent region. The council has planning permission for 665,000 sq ft of bespoke warehouse, manufacturing and office space to be constructed on a built-to-suit basis and plots are available for units from 20,000 sq ft to 200,000 sq ft. The council also has provision for hotel and conference facilities totalling 60,000 sq ft.
Dunsbury Park is served by a new link road directly funded by the council and the Solent Local Enterprise Partnership. The scale and employment potential is unrivalled in the region with 330,000 people of working age living within 10 miles of the site. Dunsbury also offers a superb location on the direct route from London to the south coast with the A3(M) now enjoying greatly reduced journey times to the M25, and other major airports, thanks to the Hindhead tunnel. It is well connected with rail, bus routes and Portsmouth International Port, offering a comprehensive travel network with the west, north and east of England and with Europe.
The park is easily accessible for a large, skilled workforce and offers swift freight movements into the national road network and it is also close to local amenities in Havant and Waterlooville.
Dunsbury Park is a prime employment location with a modern business park feel which retains the inherent natural character of the surrounding woodland. It is a socially responsible development that acts as a landmark whilst integrating itself into the natural setting. This ensures a unified appearance whilst allowing each plot to retain its own character. The Hermitage stream runs through the landscaped park, bridged by the new link road, and a habitat area to the north of the site helps to preserve some of the rich wildlife the surrounding area has to offer.
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