Glowing New Year report for economic development in Plymouth
Over 2,500 new jobs, 5.6 million visitors to Plymouth, a two per cent rise new businesses, youth unemployment down by two per cent and a drop in people claiming job seekers allowance – that’s the results of a year’s concerted and sustained effort to create jobs and encourage growth in the city.
Council leader Tudor Evans outlined the achievements made over the last 12 months by Plymouth City Council’s economic development team working closely with many partners both in the public and private sector at the Working Plymouth scrutiny panel this week.
Councillor Tudor Evans said: “These are not just dry facts for a committee report. Behind these figures are real people, getting real jobs, bringing home money for their families and spending these hard earned wages locally.
“Behind this list of achievements are hundreds of young people who are getting opportunities and learning skills that businesses want to see in the work place and a sense of confidence is beginning to shine through – despite the incredibly difficult economic landscape we are in.
“Yes, we will keep pushing these initiatives and we will carry on putting the entire city on a footing for growth.”
The council has instigated initiatives which are all designed to up the ante on job creation and economic growth. It includes the Plan for Jobs, Mayflower 2020, History Centre £12.5m HLF submission as well as imminent City Deal, the events programme, a strategic property review, to name but a few.
The Plan for Jobs, for instance, has created 861 Jobs so far, including 569 jobs and 1900 opportunities for young people, 53 jobs through inward investment, 60 jobs as a result of the Theatre Royal regeneration and 51 jobs through Urban Enterprise,
By being smarter with the land and building it own, the Council has helped businesses create 63 jobs – a building extension to one our properties enabled the expansion of Sunshine Care, creating more jobs.
In just12 months, the Council has secured funding worth £28.9m for schemes such as the City Deal which is worth £25.6 million, a further £1.8 million Regional Growth Fund and £670,000 Coastal Communities Fund for the Waterfront cycling facilities as well as Heritage Lottery and Arts council funding for a myriad of schemes
The Council has been closely involved in projects which has let to further funding worth £86.8 million for projects ranging from the Ocean Studios - £4m, Millfields Trust Block C - £5m and EU Structural Funding £72.4m (Devon, Torbay and Plymouth)
The Economic development team also worked with Atlantic Inertial Systems to secure RGF worth £2 million.
A key area which people tend to overlook is the work carried out by the Council’s estates management team. Last year saw 126 lettings and a 98 per cent occupancy – which has brought in a rental income of £5.3m
By being more canny and more commercially-minded with the assets the Council owns, a further £216m investment has been secured for the city including schemes such as the Higher Home Park, a mixed use leisure proposal worth £50m, a Marine Industries Production Campus at South Yard, worth £63m and Seaton Neighbourhood development worth £70m (900 homes and £21m of community benefit) and the Watergate Bay Hotel in the Royal William Yard worth £18m.
