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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. Significant numbers also commute into the city from the New Forest, Test Valley and Winchester. However, between 2015 and 2017 there was a net loss of 5,090 jobs, a reduction of 4.4%. …, Mountpark Logistics, a leading developer of industrial and logistics property, has leased a 95,099…, Inventions company Morgan Innovation and Technology has made its name designing, developing and manufacturing innovative…, Making waves The UK’s largest and most sophisticated maritime simulation centre, situated at Solent University’s…, The Isle of Wight was awarded UNESCO Biosphere Reserve status on Wednesday, June 19. …, Occupiers sought for soon to be refurbished warehouse unit in Eastleigh. This is reflective of the national trend, although for the first time since 2012 the number of deaths was greater than the number of births, suggesting negative growth. As well as the considering the number and makeup of businesses and jobs in Southampton, it is important to understand in detail the character of Southampton’s resident working age population; not least because this is materially important with regard to the city’s wider economic prospects. These should be read alongside the original 2017 report for a full understanding of Southampton’s economy. This is most prominent in the two year survival figures which have fallen from 77% in 2016 to 65% in 2017, a rate which is the lowest amongst comparator areas. As a proportion of all staff it is a little lower, but this may be due to better staff retention rates. In addition, A Labour Market Profile has been developed by NOMIS containing key labour market statisitcs, which can be accessed via the link below. The 2017 Southampton Economic Assessment provides a baseline on the strength of the Southampton economy, based on the administrative boundary of the local authority. Between 2011 and 2015 there was a net increase of approximately 11,230 jobs in Southampton, which, in part, is reflective of the increased number of businesses in the city. There is a clear relationship with Eastleigh, with a large economic flow in both directions (12k). For the latest data, see the 2019 refresh above. Both datasets are produced from an extract taken from the Inter Departmental Business Register (IDBR), which represents the businesses registered with HM Revenue and Customs (HMRC) for VAT and/or Pay As You Earn (PAYE). Having had a relatively good business survival rate over the first and second year of trading, Southampton has seen a dramatic reduction in 2017. This analysis focuses on the income approach, which defines GVA as the income made by employees and businesses in a form of earnings and profits/surplus. In 2018, there were 6,745 businesses in Southampton. Growth is also critical in order to improve outcomes for local people; ‘Southampton has strong and sustainable economic growth’ is one of the four key outcomes, which make up the vision in the 2016-2020 Southampton City Council Strategy. The…, The IncuHive Group, who operate a range of co‐working business incubation and…, Southampton based HPW Architecture are submitting a planning application to Test…, This week marks another key milestone for one of the largest inward investment projects…, Recognising its important role in promoting and supporting an economic revival, following the health,…, This July should have seen global aerospace gathered together for the biennial Farnborough International…, Womble Bond Dickinson (WBD) has advised longstanding client Rentplus-UK Ltd, the leading provider of affordable rent-to-buy…, Homes England has appointed Avison Young to seek expressions of interest from experienced investors,…, The Isle of Wight is set to host the finale of an international sporting…, Solent University has been ranked fourth in the sector, its highest ever position, for…, Portico, Portsmouth's international cargo operator, is one of the few UK ports capable of managing…, Almost 100 attendees tuned into a recent CBRE market update, to listen to an…, The University of Southampton has made a welcome return within the top 20 of…, The team behind Watergate Bay Hotel in Cornwall and Another Place in the Lake…, The River Test Distillery*, who are based in Test Valley, Hampshire and Winner of…, A new fund will enable eligible dairy farmers in England to access up to…, When it comes to brightening up your day, Hovertravel handling agent Lorry Middleton is…, Nine businesses from all corners of Hampshire have been named among the winners in…, Hampshire based Aviva, the UK’s largest insurer, has pledged £5 million to NHS Charities Together…, Paris Smith, a Hampshire legal firm has launched a new community initiative to help businesses…, A number of local firms, who form part of Test Valley Borough Council's Manufactured…, A new digital platform has been launched to help business stay connected. Data is published annually and is available at local authority level, which enables local benchmarking and trend analysis to be conducted. The City of Franklin and Southampton County offer a business climate with a wide range of existing companies, skilled employees, educational opportunities, low tax rates, excellent transportation corridors and a charming small town feel. There therefore continues to be a need for specific intelligence on the Southampton economy to compliment wider regional analyses and to help drive strategic decision making on economic development. The full report and individual chapters be downloaded below. The largest growth was in the Public administration, education and health sector (£178 million), despite a reduction of £65 million in 2016 and continued public sector cuts.

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