South East England Development Agency (SEEDA)

New report reveals major contribution Solent marine industry makes to the UK economy

Sector contributes £5.5 billion

24 June 2008

Industry leaders have endorsed a new strategy which for the first time reveals the significant benefits the Solent marine industry brings to the UK economy (£5.5 billion).

The Solent Waterfront Strategy, was presented at a Marine South East MareNet event last night, with around 100 marine businesses and industry experts in attendance. As well as highlighting the economic contribution the sector makes key findings also revealed the concerns that the shortage of coastal waterfront land space available for businesses is hampering their ability to continue to thrive, expand and innovate.

The Solent marine sector covers (West Sussex to Hampshire incorporating the Isle of Wight) and provides 25,000 direct jobs and makes up at least 20% of the Solent economy – more than any other sector in the area.

The research confirms that the Solent is one of the most important areas of water in the country and stresses how essential waterfront access is for marine companies to continue their operations in order to remain viable. It also highlights that action is required now to influence Government to support marine industries via future policy.

The Strategy was initiated following a call from the marine industry itself which expressed concerns about the lack of available waterfront land space. It is being led by SEEDA, the South East England Development Agency in partnership with Marine South East (MSE), Partnership for Urban South Hampshire (PUSH), Hampshire Economic Partnership (HEP) and British Marine Federation (BMF).

"For the marine industry to compete internationally and to secure its future success in the region we need to take action now to ensure that planners and policies makers are aware of the significant contribution the sector makes to the economy. It is essential that the public sector and partners play a major role in influencing policy making decisions to ensure plans are put in place to allow this industry to prosper. We also recognise that significant investment is required in recruitment and skills programmes to address the marine skills shortage."
Kathy Slack, Hampshire and Isle of Wight Area Director for SEEDA

"The Waterfront Strategy confirms the substantial contribution that the marine sector adds to the Solent economy and also stresses the pressure that is on waterfront land space. We welcome this report as it gives us the evidence to retain waterfront sites for continued and future economic development and wealth creation for the marine industry."
Jonathan Williams, CEO Marine South East

In the last few years SEEDA has been investing in waterfront land that has become available and where possible strategic sites have been retained for industry use such as waterfront sites at East Cowes, Hythe, Daedalus and Woolston.

Taking the plan forward SEEDA and supporters including the Environment Agency will be working together on an implementation programme that will help unblock the current major constraints to growth as well as ensuring that strategic consideration is given to the long-term prospects for the marine industry. It will also provide a provision for co-ordinated training and business support measures.

For further information and a copy of the Solent Waterfront Strategy please visit www.solentwaterfront.co.uk