Solent Local Enterprise Partnership, which has been involved in creating the Southampton and Portsmouth City deal, has estimated it will deliver a number of benefits over its lifetime.
The partnership said the deal would deliver the following:
- more than 4,700 permanent new jobs particularly focused in marine, maritime and advanced manufacturing sectors
- more than 13,000 construction jobs
- 107,000 sq m of new employment floor space unlocked, with a focus on supporting growth in the marine, maritime and advanced manufacturing sectors
The partnership estimates the deal will also provide £115m of local and national public sector investment and bring in more than £838m of private sector investment into the area. This would be through site development, skills and unemployment schemes, and business support services.
More top news
Friday morning's forecast for the west of the region
Friday morning's forecast for the east of the region
Surrey Heath MP Michael Gove has confirmed he will stand for leadership of the Conservative party - taking on Maidenhead MP Theresa May