Plymouth is an important economic contributor to the whole of the South West, with GVA of £5.2 billion. The city provides 105,100 jobs to its residents, with an additional 100,000 living in commutable distance. Plymouth has an employment rate of 74.6%, and businesses can take advantage of the low wages compared to other cities in the South West.
Already a thriving city, the council has plans to boost growth in the near future. This includes building 26,700 new homes by 2034, growing the population to 300,000 by 2034, and the approval of £266 million capital investment. Tourism is an increasingly strong sector for the city, generating £316 million annually and keeping 7,500 people employed.
Plymouth has a wide range of thriving industries. To see which of the city's companies are currently the most successful, take a look at the following list. We've compiled it using our Plymouth business data, and it provides an interesting snapshot into the city's economy.
MoreOne of the biggest industries in Plymouth is marine manufacturing. It currently generates over £408 million in GVA, accounting for 21% of the total output from the sector in the UK. The city also has a thriving business services sector, with 7,605 companies across a range of subsectors from accounting to recruitment. The sector generates around £1.2 billion in total GVA.
Life sciences has become another of the city's most important industries. Both new and established businesses are based in the city's expanding life sciences cluster, providing over £577 million in GVA and supporting 22,500 jobs. The creative industries also have a strong presence in Plymouth, working across advertising, TV, marketing, publishing and more, contributing £51 million in GVA.
