With a growing population of 263,000, an economic output of £5.2 billion and 105,100 jobs, Plymouth is the most significant urban area on the South West peninsula. A further 100,000 people live within the city’s travel to work area.

The Plymouth Plan provides a single shared vision for the development of the city’s economy into one that is competitive, diversified, balanced, and well-connected. 

We have pulled together a useful overview of the attributes that make Plymouth a prime place to invest with our Driving Growth in Britain's Ocean City publication.

Flagship Projects

Future High Street Fund plan

Urban Splash, Plymouth City Council and the University of Plymouth have unveiled plans as part of the city’s Resurgam recovery project that could rebuild confidence and create a buzz that will bring more people in, for more reasons and for much longer.

The scheme is part of the city’s Future High Street Fund pitch which is due to be submitted to Government at the end of the month and its key themes are to restore the Civic Centre as a symbol of renewed confidence; introduce high impact uses with economic and social value; build a high profile events economy around the refurbished Guildhall and Civic; fill the Civic with pioneering, industrious and creative people and kick-start a local distinctive Future High Street.

Sherford

Located on the Eastern outskirts of our city, Sherford will occupy over 1,200 acres of farmland between the A38 and A379. Set in one of the country’s most picturesque locations, Sherford will both respect and enhance the surrounding landscape – with an aim to make it one of the most desirable places to live and work for 12,000 residents.

The completed development will result in 5,500 new homes and over 80,000 m² employment and retail space. Three primary schools and a secondary school.

A variety of community facilities which include: a town hall, youth centre, health centre, library, theatre, sports centre and a community park.

The Box

A £46million project is now complete, creating a new history centre for Plymouth. The existing Museum and Art Gallery, Central Library and St Luke’s Church buildings have been transormed into a new, unique cultural attraction that highlights Plymouth and its place in the World.

Situated between University of Plymouth and Plymouth College of Art, ‘The Box’ forms the heart of an exciting cultural quarter: Cutting-edge galleries, high profile exhibitions and interactive events will take visitors on a journey from prehistory to the present and beyond.

Plymouth's proposed Train Station re-development

Work has begun on the £80million transformation of Plymouth’s main railway station into a modern transport hub with shops and offices. Construction has started on the main concourse of the train station as part of a huge package to completely transform a key entrance to the city, which will be renamed Brunel Plaza.

Drake Circus The Barcode

This investment by British Land of £50 million created a new leisure destination for Plymouth. The Barcode development was completed October 2019, and contains 13 restaurants and a 11 screen IMAX cinema complex.

Oceansgate

We want to bring together marine-based businesses to create a world-class hub for marine industries, with opportunities for research, innovation and production in a collaborative environment. It will provide a unique complex of industrial buildings and docks for commercial use, with direct deep water access to the English Channel and an unrivalled location for a wide range of marine businesses. Phase 1, the construction of new office and industrial space, reached practical completion in 2018, and Phase 2 reachd completion March 2021.

Plymouth and South Devon Freezone

The Plymouth and South Devon (PASD) Freezone will harness the power of High Value Manufacturing Sectors with Marine, Defence and Space applications to deliver clean growth and provide the high-quality jobs needed for the future.

Why Plymouth

Plymouth is an ambitious city with huge growth potential and is undergoing exciting changes, with many more on the horizon.

Plymouth has a strong pipeline of 10,000 construction jobs demonstrating the city’s growth potential and commitment.

As a centre of excellence for marine science and manufacturing, Plymouth has a unique set of competitive advantages on which to build upon in its transition to a more competitive and thriving knowledge-based economy. Our high quality educational infrastructure, including two universities and a substantial pool of young talent, continues to grow, playing an ever increasing role in supporting economic growth agendas.