10 reasons to invest in Plymouth
Plymouth is a vibrant and innovative city that combines a rich maritime heritage with a modern and creative spirit. Whether you want to grow your business, explore the natural beauty, or immerse yourself in the cultural diversity of this historic port, Britain's Ocean City has lots to offer.
Here are 10 reasons why you should invest in Plymouth:
Our ambition
We are the largest port city on the South Coast of England. We have an ambitious growth agenda with an aim to reach 300,000 residents by 2034, up from our current resident population of 268,000. Over 5,000,000 visitors come to Plymouth annually, including 440,000 ferry passengers via Brittany Ferries.
Our skilled and adaptable workforce
We have three award-winning universities plus an expanding City College that develop and grow new talent and a business-focused potential workforce.
The Teaching Excellence Framework (TEF) 2023, a review of undergraduate teaching quality, awarded gold to University of Plymouth, Plymouth Marjon University and City College Plymouth and silver to Arts University Plymouth.
Our Freeport
The Plymouth and South Devon Freeport is the only Freeport on the South West Peninsula. It will unlock three strategically important development sites and offers businesses setting up a suite of incentives including tax and customs breaks, business rates relief, stamp duty land tax relief and 100% enhanced capital allowance among others.
Our marine science sector
We are a global centre of excellence for marine science and technology, with one of the largest clusters of expertise in the world and over 7,100 skilled people in marine manufacturing. Our blue tech/marine sector accounts for 21 per cent of the national employment in this field, and 11.3 per cent of the city’s total employment. Global research partners include Plymouth Marine Laboratory, Marine Biological Association, University of Plymouth and the Continuous Plankton Recorder (CPR) Survey.
Our premises
We offer a diverse mix of high-quality modern and historic managed business premises and excellent provision for new start-ups. On average, business premises are 35 per cent cheaper in Plymouth than in the South East, and it has the highest concentration of manufacturing and engineering employment in the whole of the south of England.
Our medical, health and life science cluster
We have the largest specialist teaching hospital on the South West peninsula and over 7,000 students enrolled in the medical, health and life science courses. It has over 100 businesses operating within Plymouth Science Park.
Our businesses
We are home to many world renowned businesses, such as Babcock International, Becton Dickinson (BD), Burts Snacks Ltd, EE, Fine Tubes (Ametek), Kawasaki Precision Machinery, Plymouth Gin, Princess Yachts International, Thales, Rittal CSM, Mars Wrigley, Twofour Group and The Range. We also have the largest Naval Base in Western Europe.
Our affordable housing
Our average house price is now £240,402, nearly seven times the average salary, contrasting London being 16 times the average salary. Plymouth plans to build 19,000 new homes by 2034, with 4,550 being affordable homes.
Our outstanding quality of life
Few cities can rival our rich maritime heritage, stunning waterfront and natural harbour which is home to the UK's first National Marine Park. We are sandwiched between Cornwall and Dartmoor, one of Britain’s finest National Parks. We are also one of the greenest cities in the UK, with 40 per cent of the city being green space.
Our culture
We have a thriving cultural scene with a growing digital and creative sector, Theatre Royal Plymouth is one of the largest and best-attended regional theatres in the UK. The city is also home to Europe’s first-of-its-kind immersive dome at the Market Hall.