Economic Impact analysis of Southampton Port presented to large audience
Marine South East and Atkins delivered insightful research findings centred on the economic impact of the Port of Southampton, and the opportunities for its supply chain at an event, which took place on 28th June at Ocean Cruise Terminal, ABP Southampton.
Addressing both public and private sector delegates, Doug Morrison, Port Director of ABP Southampton, set the scene with an informative overview of the port's development. The welcome address highlighted factors such as positive growth in the cruise industry in Southampton despite the competition from the northern ports such as Liverpool.
Jonathan Williams, Chief Executive, Marine South East focused on growth and employment potential of the sector, introducing the reasons behind the research's commission, looking at the economic impact and supply chain opportunities for ports, security & logistics. The presentation gave positive examples of innovation and supply chain support projects, highlighting the work of the TIME project, a European cross-border initiative focused on collaboration between companies operating across South East England, Nord-Pas de Calais and Flanders.
Richard Coburn from the research group Atkins, presented the eagerly anticipated results of the Economic Impact Analysis of the Port of Southampton. It was announced that the port contributes £1.8 billion to the UK economy and supports over 30,000 jobs. It also reinforced that Southampton has the majority share of the cruise market, which has experienced 400 percent growth over the last 12 years.
Moving forward, the masterplan has forecast a significant increase in cargo over the next 20 years with container traffic set to triple. It was stated that this could have a significant and positive impact on jobs as early as 2013.
Prior to the concluding panel discussion, Iain Shepherd, Chairman of Marine South East illustrated how the South Coast Maritime Board is helping to drive growth and investment through LEPs with Doug Morrison introducing the priorities of the Solent LEP and Iain Shepherd illustrating the vision for the Coast to Capital LEP.
The seminar stimulated high levels of discussion amongst all attendees, with a multitude of topics ranging from developing future partnerships to attracting graduates to the maritime sector being discussed and questions put to the panel.
Information about the event including presentations can be found at http://www.marinesoutheast.co.uk/docs/papers/
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