DRIVING GROWTH 2016
PLYMOUTH’S ECONOMY HAS GROWN 5.1% SINCE 2009 VS. UK 3.2%
PLYMOUTH YOUTH UNEMPLOYMENT: LOWEST IN 20 YEARS
10TH BEST LOCATION IN THE UK FOR THE COVERAGE OF SUPERFAST BROADBAND
PLYMOUTH CITY COUNCIL ECONOMIC DEVELOPMENT SECURED £63.1 MILLION FUNDING IN 2015
PROPERTY DEALS PIPELINE £411 MILLION IN 2015
THE ECONOMY IS WORTH £5.2 BILLION IN TERMS OF GROSS VALUE ADDED (GVA)
PLYMOUTH PROVIDES 106,300 JOBS AND IS HOME TO 7,250 BUSINESSES
OVER 30,000 STUDENTS FROM THREE UNIVERSITIES
JOBS PIPELINE CREATED 4,751 IN 2015
FACTS Plymouth is the largest port city on the south coast of England with a resident population of 261,000 and another 100,000 in the travel to work area. With an ambition to grow its resident population to 300,000 Plymouth City Council has an ambition to build 5,000 new homes Plymouth is home to the largest Naval Base in Western Europe, HMNB Devonport Plymouth has the highest concentration of manufacturing and engineering employment in the whole of the south of England 20 per cent of blue-tech/marine employment in the UK is in Plymouth (circa 14,000 employees) A rail journey time of 3 hours 20 minutes to London with an ambition to reduce this time to 2 hours 15 minutes The nearest international airport is 40 miles away No motorway connection, nearest being 40 miles away
City Vision One of Europe’s most vibrant waterfront cities, where an outstanding quality of life is enjoyed by everyone.
PLYMOUTH GROWTH MAP The city’s growth agenda is embedded in our Corporate Plan and its headline objectives to be a pioneering, caring, confident and growing city. The growth agenda is core to the city’s Plymouth Plan, part I of the plan identifies priority areas for growth focussed upon the city centre, the waterfront, a Northern and Eastern corridor and major housing estate regeneration.
PLYMOUTH PLAN IN NUMBERS
OUR ACHIEVEMENTS IN THE LAST TWO YEARS... Plymouth and South West Peninsula City Deal Through the City Deal, by 2030 we will: Create 9,500 jobs Generate Gross Value Added (GVA) of over £800 million Lever in £266 million of private sector investment Regenerate 7.5 ha of redundant MoD land at South Yard. Support over 20,000 businesses to grow Work with 1,500 young people and support 540 back into sustainable employment by 2015
Plymouth Science Park Plymouth Science Park is a joint venture between Plymouth City Council and Plymouth University It is the region’s largest science and technology park with over 140,000 sq ft of office and laboratory space It is host to over 80 businesses in the life sciences, digital, technology and e-commerce sectors The Council is the key partner in Phase 5 of Plymouth Science Park Planned to open in 2017, the £7 million 2,800 sq ft development will provide high quality office space for up to 11 high quality digital businesses The development is being funded by the partners: the Heart of the South West (HoTSW) LEP (£3 million), Plymouth City Council (£2 million) and Plymouth University (£3 million)
Coach Station and joint deal with British Land A major city centre investment by British Land at the former Bretonside Bus Station, Drake Circus Leisure will develop a £40 million new leisure development, which will include: 12 screen cinema, 13 restaurants and parking for 420 cars. This is enabled by Plymouth City Council investing in a £4.17 million new coach station in the heart of the city centre. Providing a facility for long distance coaches to drop-off and pick-up passengers in the centre of Plymouth.
Direct Development Hearder Court Plymouth City Council has a large portfolio of land and property. Recently invested £2.7 million to build industrial units at Hearder Court, bringing 165 jobs to the city.
REGENERATION - WHAT WE ARE DOING NEXT... Mayflower 400 Plymouth will become the UK’s lead city in 2020, celebrating the 400 year anniversary of the sailing of the Mayflower. This is a spring board for major regeneration and re-positioning the city globally.
History Centre Due to open as part of the Mayflower 400 celebrations in 2020, the £34 million scheme is expected to attract 300,000 visitors a year from across the world and received one of the largest investments from the Heritage Lottery Fund in 2014 (£12.8 million).
Quality Hotel Plymouth City Council recently purchased the redundant Quality Hotel on Plymouth Hoe, ensuring this prime waterfront site is kept for a four or five star hotel – a development opportunity which will be brought to the market in 2016.
Civic Centre Plymouth City Council sold the freehold of the Civic Centre building to award winning regeneration company Urban Splash. This iconic listed building, would have cost the Council around £30m to restore. The sale was completed in January 2016.
South Yard Embarked on the complex regeneration of 18 acres in a redundant historic dockyard Plymouth’s South Yard will offer exceptional opportunities in a prime marine location, bringing a unique complex of industrial buildings and docks into commercial use.
Transport £66 million investment into infrastructure across the city with significant support from the HotSW LEP. £32.5 million Forder Valley link road will open up the north of the city. The LEP’s contribution of £22.5 million is the largest single project the HotSW LEP has committed to in 2015. This will lead to the delivery of 3,000 homes and 9,000 jobs.
History Centre
Train Station
Drake Circus
City Centre
Saltram Meadow Plymstock Quarry Drake Circus Leisure
Civic Centre Quality Hotel
Royal William Yard
South Yard
Sherford Housing
SMART Sound In sea testing
HOUSING Our Plan for Homes is committed to building 1,000 new homes every year for five years 33 council owned sites released for housing, totalling 138.28 acres of land, planned to deliver 1,650 new homes, 50.9 per cent will be affordable, reducing the city’s priority housing waiting list by 20 per cent The regeneration of Devonport is moving towards its completion, with almost 1000 new homes built to date, and another 500 to be built over the next three years In North Prospect 800 non-decent homes have been demolished and replaced by around 1,100 high quality new
homes over 10 years. Plus 300 existing homes extensively refurbished. Total investment amounts to around £120 million The Plymouth Plan proposes 4,300 new dwellings within the northern corridor growth area. Approximately 2,086 dwellings will also be delivered within the urban fringe Sherford is a new town being developed on the eastern corridor. Planning permission is now granted for 5,500 homes to be built over the next 15 years and 84,000 sq m of commercial and business space
BUSINESS Growth Hub – Plymouth
Business Relationship Programme
Plymouth City Council has led the development of the growth hub for the whole of the HotSW LEP. This will support over 20 per cent of businesses, helping them find the right support.
We account manage over 170 key businesses, helping them navigate support.
SMART Sound The Council is working with universities to help businesses develop an in-sea test range.
Inward Investment The Council leads inward investment on behalf of the Heart of the South West LEP. In the last three years, the success rate has doubled annually.
PEOPLE Building Plymouth
STEM City College Plymouth
Building Plymouth is a Council led partnership with the local building industry that aims to link people with career opportunities in the local construction sector. The project aims to strengthen the industry and at the same time provide local people with new opportunities to get skilled and move into great careers.
The Council have contributed £2 million and the Heart of the South West LEP £5.4 million, towards funding a new £12.8 million STEM Centre at City College Plymouth, enabling the college to deliver 21st century skills training to local people and the business community.
1000 Club
Events
The 1000 Club is a partnership led employability initiative bringing together, Plymouth City Council, Jobcentre Plus, National Apprenticeship Service and Devon and Cornwall Training Provider Network, that was launched in 2012. The aim was to encourage 1000 businesses in the city to commit to supporting young people into jobs or to improve their employability through the provision of valuable work experience. This initial target was hit within 18 months of launching and more than 1,555 businesses in the city have signed up as members to date.
In 2015 our events programme attracted over 400,00 people, major events include Armed Forces Day, British Fireworks Championships and MTV Crashes which was seen by 21 million people in 162 countries.
Urban Enterprise The Urban Enterprise Programme, co-ordinated by Plymouth City Council, brought together a suite of ERDF/PCC funded projects to help people wishing to set up their own business, supporting them from the germ of an idea to sustainable growth. The programme engaged local community groups to create a real enterprise ‘buzz’ around the city, resulting in numerous success stories of people moving away from benefits and into self-employment. over 4,000 people engaged over 400 jobs created over 260 businesses started In addition, 4,000 sq metres of managed workspace projects was created at Ocean Studios and Millfields Trust Genesis building
Royal William Yard and Ocean Studios Plymouth’s Ocean Studios has transformed the redundant Cooperage at Royal William Yard. Plymouth City Council funded (£800,000), underwrote LEP funding (£800K) and supported Ocean Studios with advice and staffing. This December 100 jobs were created, 40 artists have relocated and new exhibition space, which has featured work by the likes of Grayson Perry.
Social Enterprise As a council we see social enterprises a key to the growth of our economy and we are developing robust relationships within this sector. Plymouth is rapidly developing as a Global Social Enterprise City with the sector set to grow even further in the future by creating sustainable business models. We have invested in the innovative and highly successful Social Enterprise Investment Fund, designed to assist social enterprises to establish themselves and grow. So far 21 businesses have benefitted from the £2.5 million fund receiving £1.4 million worth of grants and loans, which is helping to create 130 full time jobs and has levered in over £5 million of match funding.
Plymouth Energy Community Plymouth Energy Community (PEC) was created in 2013. It is a community benefit society which changes the way residents buy, use and generate energy. It has 1,200 members. PEC Renewables was created in 2014 and has developed a portfolio of £2.45 million solar arrays across a range of council owned assets.
Growth Deal 1 and 2 Allocation PLYMOUTH £51.5 million (26%)
HEART OF THE SOUTH WEST £195 million
As of 2015, Plymouth’s average weekly wage is 12 per cent higher than those in other parts of Devon, and 5 per cent higher than wages in Somerset. Average Annual Business Birth Rate (2011-2014)
20
The HotSW LEP received the largest Growth Deal allocation in the country. Plymouth received the largest allocation of HotSW funding Gross Value Added per hour worked
100 80
15
0
Plymouth has achieved an average annual business birth rate-growth of 15.6 per cent over the last four years, whereas the national average is only 10.9 per cent over the same timeframe.
0
DEVON
20
PLYMOUTH
40
GB
HEART OF THE SOUTH WEST
5
PLYMOUTH
10
HEART OF THE SOUTH WEST
60
Plymouth’s GVA per Hour Worked is 97 per cent of the national average - more than 10 per cent ahead of all regional rivals.
“Plymouth is the perfect base for Princess Yachts. The city has provided us with a rich supply of skills and expertise, therefore it was important for us to be able to expand our operations here.” Chris Gates, Princess Yachts International, Managing Director,
“Plymouth City Council and Heart of the SW LEP are true partners. Plymouth City Council lead on business support for the whole LEP area. They drive the inward investment and have been truly instrumental in the growth hub. They are partners who make a real difference.” Chris Garcia – Chief Executive Heart of the South West LEP
“Plymouth is a great place to do business, it is a forward thinking city and Plymouth City Council proactively shares our joint goal of creating ‘places people prefer’.” Charles Maudsley, Head of Retail for British Land
“The Council has transformed its approach to growth. In the last couple of years there has been a step change in pace and engagement and buy in from the private sector. The relationship between the council and local businesses is at an all-time high. The city is ambitious and is being brave, we are working together and it is having results. Paul Woods, Plymouth Growth Board
FOR FURTHER INFORMATION, PLEASE CONTACT US E: invest@plymouth.gov.uk T: 01752 305995 www.investinplymouth.co.uk Economic Development Plymouth City Council Ballard House Plymouth PL1 3BJ