Economy
Southampton’s economy was valued at £7.2 billion in 2020, with around 8,785 businesses located in the city and 108,000 jobs11. The sectors employing the most people include health, education, retail and business administration with transportation and storage experiencing the largest growth 1998- 2019. The city contains a major deep seaport with the largest cruise passenger operation in the UK. The majority of business floorspace is industrial, followed by retail then offices.
Policy ST1 identifies the scale of non-residential development that needs to be built in the city. This chapter provides guidance for the different commercialContinue reading
Southampton’s economy was valued at £7.2 billion in 2020, with around 8,785 businesses located in the city and 108,000 jobs11. The sectors employing the most people include health, education, retail and business administration with transportation and storage experiencing the largest growth 1998- 2019. The city contains a major deep seaport with the largest cruise passenger operation in the UK. The majority of business floorspace is industrial, followed by retail then offices.
Policy ST1 identifies the scale of non-residential development that needs to be built in the city. This chapter provides guidance for the different commercial uses and seeks to share the benefits of economic growth across the city.
Links to all other parts of the plan can be found on the right of this page.
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The PfSH Statement of Common Ground (2021), informed by the PfSH Economic, Employment and Commercial Needs Study (2021), sets out a need for major new office development. The study takes account of factors such as increased home working, but also the need for further development to support economic growth. It is important to focus major office growth in the city centre to create a dynamic business hub, encourage commuting by public transport, walking and cycling, and support a vibrant centre. The PfSH Statement of Common Ground sets an aspirational target to deliver a net gain of 61,000m2 of office development in Southampton
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The PUSH Statement of Common Ground and the LEP’s Solent Economic Plan promote economic growth across South Hampshire, focussed on the cities first. Therefore, it is important to safeguard industrial / warehouse sites, and support additional industrial / warehouse growth / investment on these sites. This will support the city’s role as an economic hub, a wide range of economic sectors (including those which have links to the Port and Universities), jobs for the city’s large population (including those in priority areas) and help deliver the need for a net gain in major new industrial / warehouse development across South Hampshire.
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The city has a long history associated with the marine industry which includes the internationally significant Port and port related activities, the Marine and Maritime Institute and Oceanography Centre, and a wide range of other marine industries including boat building and repair and yacht marinas. The sector’s importance to the economy of the city and wider sub region is recognised by the Solent LEP study. The sector depends on the limited number of sites which have access to the waterfront. It is important that these sites are safeguarded for marine uses to support the success and growth of the marine sector, including hi-tech and skilled marine activities.
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The Port of Southampton is of major economic importance at an international, national, sub-regional and local level as a key deep sea, rail and road transport hub. It is one of the U.K.’s largest freight ports, its premier cruise port, and provides local ferry services. The Port anticipates major growth over the plan period, as set out in its consultation master plan to 2035. In the short term this growth can occur within the existing Port, longer term expansion depends on whether permission is granted to develop Dibden Bay outside the city.
The Port of Southampton is part of the Solent Freeport proposals which are at an advanced stage with formal approval anticipated imminently. The proposal will add significantly to the growth of the Port and wider economy, and together with local Universities, promote marine innovation and green growth.
The relationship between the Port and development in the city needs to be carefully managed to ensure the objectives for both are met. It is important that the existing Port is safeguarded for port related uses and Freeport proposals, and that its operations, land and marine access are not constrained without good reason.
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It is important that the benefits of economic growth are shared across the city and support social and environmental objectives. Major developers should commit at an early stage to considering how they can support the inclusion of local communities and residents in the economic benefits generated by their development, and how they can support wider social, health and wellbeing and environmental objectives.
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The Government has sought to reinvigorate High Streets and Town Centres, following the publication of the Portas Review in 2011. However, there has continued to be a growing trend of purchasing shopping online which has led to declines in footfall. Consequently, various policy relaxations and modifications to restrictions have been enacted by the Government to try and stimulate the vitality, viability and economic prosperity of High Streets and Town Centres. The Covid-19 pandemic has compounded the need and justification for this having exacerbated footfall decline.
Meanwhile uses can make an important contribution to ensuring this economic prosperity of centres and this is recognised by the Council. Consequently, the Council will take a positive approach to meanwhile uses that is flexible in order to respond to local conditions and to allow the stimulation of economic activity and growth in appropriate locations, such as the High Street, whilst safeguarding existing amenities.
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