Local leaders in Plymouth are optimistic that renewed government investment in the defence industry will boost the city's fortunes, creating thousands of jobs and driving the largest regeneration since the Second World War. The city, rebranded as 'Britain's ocean city', has a long maritime history dating back to the 16th century, but recent decades saw economic uncertainty due to defence spending cuts and dockyard job losses.
The government has pledged £4.4bn over the next decade for Devonport dockyard, the largest naval base in western Europe. This investment is expected to create up to 25,000 new jobs at the dockyard and across the supply chain, according to council estimates. Babcock, which oversees nuclear submarine maintenance at Devonport, is moving 2,000 employees into the city centre, converting a former department store into a training centre and offices.
Council leader Tudor Evans said the investment will give Plymouth a pay rise, as average weekly wages in the region trail those in the rest of England. 'The potential is huge,' he added, noting that 5,500 dockyard workers are needed just to replace retirees. The council aims to build 10,000 new homes in the city centre to retain these workers, preventing their salaries from leaving the area at weekends.
Plymouth Sound has become a test bed for autonomous maritime systems, with a 5G-equipped laboratory. International firms such as Germany's Helsing and France's Thales have established facilities in the city. The regeneration includes 144 rental flats and a skills hub in the former civic centre, while Homes England has bought four large sites for social housing.
