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.