southampton economic development

For the latest data, see the 2019 refresh above. As a proportion of all staff it is a little lower, but this may be due to better staff retention rates. It considers productivity and growth, business and enterprise, the job market, employment, skills and earnings. Given the difference between resident and workplace earnings, it is possible that some lower skilled residents are being displaced into lower paid employment outside of the city by skilled workers commuting into the city. Business survival over the first two years appears to be an issue in Southampton.

The Southampton Economic Assessment is intended to provide a baseline as to the strength of the Southampton economy, based on the administrative boundary of the local authority. Fareham College, the TES 2018…, Lambert Smith Hampton’s latest  ‘Market Pulse’ report highlights that the demand for industrial commercial property…, The University of Southampton has secured a £100M investment from UK Research and Innovation…, Farnborough-based defence technology developer QinetiQ have supplied an electric propulsion system that will be…, The opportunity for Gosport to become a driving force in both the Solent and…, The UK’s gin business is booming and exports are on the up according to…, A Hampshire made unmanned submarine is being used by Norway to monitor pollution…, RO Real Estate makes wellness a priority at One Dorset Street; Hampshire’s first Fitwel certified…, Cosmologists from the University of Portsmouth have been honoured by The Royal Astronomical Society…. The fall is due to both an increase in business deaths and a fall in business start-ups. We use google analytics to help us improve your experience of our website. In 2017/18, unemployment was estimated to be 4.6% in Southampton, a reduction from 5.1% in 2016/17 and similar to the national average (4.3%). Find available property for industrial and commercial use in Franklin Southampton. This is higher than the England (30%) and South East (23%) averages.

This is reflective of the national trend and of the wider UK economy’s recent performance, with slowing growth in gross domestic product (GDP), which increased by 1.5% in the 2017 to 2018 fiscal year. In 2017/18, three quarters (78.3%) of the working age population in Southampton were estimated to be economically active, which is similar to the England average (78.6%) but lower than the South East average (81.2%). NVQ Level 4 + (degree level) qualifications are often taken as a prerequisite for participation in the high value-added knowledge economy. Having had a relatively good business survival rate over the first and second year of trading, Southampton has seen a dramatic reduction in 2017. The Office for National Statistics (ONS) publish a range of statistics on the UK economy each year including data on productivity, businesses, jobs and earnings. However, the private sector also reduced by 3.6% over the same period. However, it may also be reflective of the lack of suitable premises for new businesses in the city as floorspace has declined. Being a successful…, The Fareham Innovation Centre, a flourishing innovation centre for start-ups and early-stage businesses, is continuing…, Leading global software solutions provider Microsec has expanded its Havant operations. The proportion of the population qualified to NVQ level 4 or above in the city is increasing, but continues to be lower than the national average (41% compared to 43.5%). This requires leaders from the public and private sectors across a place to develop a clear vision for growth, based on good local data and intelligence, to foster sustainable, long term prosperity.

Unsurprisingly, Southampton continues to be a key employment centre in Hampshire, with a job density of 22.1 jobs per hectare, although this is below Portsmouth (26 jobs per hectare). They also help us to understand how the website is being used. These cookies do not store any personal information. Links to some of the most valuable datasets and analysis are provided below. Hampshire Conference Bureau offer a free venue finding service for your next meeting in Hampshire. In the wake of the EU referendum result and its potential implications for the economy, it is no surprise that the government is placing renewed focus on driving growth. The City of Franklin and Southampton County combined encompass a geographic area of over 600 square miles and are home to 26,000 of the 1.6 million people within the Hampton Roads region. We use cookies to make your experience better. However, adjusted for inflation, resident (-0.9%) and workplace (-3.1%) earnings both fell in 2018 and pay in ‘real’ terms for both groups remains below the 2008 peak. …, Occupiers sought for soon to be refurbished warehouse unit in Eastleigh. As only a relatively small sample of businesses will have been taken from Southampton, the results may not reflect the experiences of all employers in the city. In contrast, the number of employee jobs across England grew by 3.1%. Franklin Southampton Economic Development - 601 N Mechanic St Ste 300, Franklin, VA 23851 - Rated 5 based on 6 Reviews "c" Southampton’s economy saw year on year GVA growth of 1.6% in Q2 2019, placing it in the top 10 alongside Portsmouth and is now valued at £6.5 billion and accounts for 153,000 jobs. Despite these increases, business density (per head of population) remains much lower than the England average (389 per 10,000 compared to 663). The Southampton economy was estimated to be worth £6.6 billion in 2017, an increase of 6.8% since 2016, which is higher than the England (3.1%), and South East (2.0%) averages. Hours of Operation: 8:30 AM - 5:00 PM 601 North Mechanic Street, Suite 300, Partnering Tradition with Progress for Industry, Partnering Tradition with Progress for Start Ups, Partnering Tradition with Progress for Small Businesses, Partnering Tradition with Progress for Agriculture.

In addition, the growth in number of businesses in the city has started to slow (from 9.7% in 2016 to 0.5% in 2018).

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