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INT2

INT2 - Plymouth in the global market place

Overview

The Plan seeks to build upon Plymouth’s strengths in the global market place.

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This Policy belongs to

Policy

The city will actively work to promote Plymouth's position in the global market place, using the Britain's Ocean City brand and building on the strengths that the city already has, particularly in relation to defence and marine sciences and high technology manufacturing as well as its maritime location. The city will encourage business growth and inward investment and assist more businesses to export and access new markets.

Rationale

Plymouth needs to continue to play to its strengths and drive up productivity and prosperity for all. It needs to take account of what makes the city stand out in an increasingly crowded global market place to foster and attract enterprise and investment in high value, productive sectors. The city must help more businesses to start trading internationally and support those currently exporting to exploit new markets as set out in Policy GRO1. Businesses that export tend to experience higher levels of productivity, improved competitiveness in domestic markets and by tapping into global markets, greater incentives to innovate. In order to ensure that Plymouth has international links that provide businesses with access to wider markets for the movement of goods and services and which supports a vibrant visitor economy, it is important to safeguard and support the city's strategic connectivity to global markets as set out in Policy SPT8 of the Joint Local Plan.

The Mayflower 400 celebrations will be a pivotal moment for the city's economy, raising the profile and reputation of Plymouth in global markets through the development of high value international tourism and trade links with US businesses, culminating in a Trade and Investment Expo as part of the celebrations.

There is also a need to build on the successes of the Plymouth and South West Peninsula City Deal and the regeneration of South Yard now branded 'Oceansgate' to drive productivity led growth and exploit the commercial potential of our marine technology, knowledge and natural assets. A key strand will be the development of a Marine Business Technology Centre, providing a jumping off point for businesses wanting to test and commercialise prototypes in open water, linked to a wider initiative developing an in-sea test facility in and around Plymouth Sound. Today many companies and organisations such as Plymouth Marine Laboratories and Plymouth University use the waters in and around Plymouth Sound to monitor and test equipment for scientific and commercial benefit. The new in-sea test facility initiative aims to improve the coordination of current technologies, monitoring and facilities in Plymouth Sound and the western English Channel and to promote and develop this marine environment for the testing and development of marine technologies of the future. With the Technology Centre, it will provide unique facilities attracting both national and international interest and significant commercial investment, helping make Plymouth a global centre for marine research.

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