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News

Major developments worth £1 billion are set to transform Portsmouth in the coming years and bring 16,000 new jobs to the market.

That was the central message of the Shaping the Future of Portsmouth annual conference held at the Marriott Hotel in Portsmouth. Business leaders packed the conference room to learn more about the development opportunities coming to the city.

Councillor Mike Hancock MP, executive member for planning, regeneration and economic development at Portsmouth City Council, said the day before the conference four planning applications for the Tipner site on the way into the city had been passed worth £130m and the government has already agreed £30m for the new junction off the M275.

The £270m major retail development known as the Northern Quarter was still on the cards as the developers have already invested £50m and show no sign of walking away.

They are looking at creating a Local Asset Backed Vehicle like Bournemouth Borough Council has agreed and a new Seafront Strategy worth £100m is also planned.

Chairman of the Business Leaders group Walter Cha said they had looked at city brand, development opportunities, raising educational attainment and promoting growth in the city.

Highlights for the year included the Passion for Portsmouth survey and an Opportunities Fair at the Guildhall.

“Portsmouth is not only open for business - it means business,” he said.

Business Solent News