Economic Development - Weymouth & Portland
A brief overview of the Weymouth & Portland economy.
Weymouth and Portland has developed strengths in several business areas:
- Marine
- Defence
- Commercial
- Industrial
- Engineering & technology
- Tourism sectors
By exploiting its industries that have grown up as a result of natural advantages of sheltered natural deep water harbour, the high quality building stone reserves and attractive seaside environment. These business sectors are supported by robust sector activity in retail, services, education, and public administration.
In addition to having an active business culture, Weymouth and Portland remains an attractive area to start, grow or implant a business because of the enduring features that in the 21st Century have heightened relevance to personal wellbeing and that offers our borough a further opportunity to promote our Good Quality of Life and World Class Natural Environment.
Weymouth and Portland Borough Council views the local economy as an important driver to achieve sustainable communities and has made it the number one Corporate Priority (Corporate Plan for 2008 - 2013).
The council has confirmed its ambitions by reorganising its service to be based on the needs of the local community, addressing areas of deprivation, building the marine economy and making the most of the Olympic legacy.
The value of the economy is estimated to be around £708 million in Weymouth & Portland with tourism contributing about £105.5 million to the local economy. There are approximately 2,180 firms excluding the self-employed, most firms are small, but 43% of the workforce works in firms with fifty or more employees. The business survival rates are above the national average.
The pursuit of structured development and growth as a business location for Weymouth and Portland can only be achieved through partnerships with public and private partners at local, county, regional and national levels. Weymouth and Portland is recognised by its partners as an important economic hub for Dorset outside the major conurbation of Poole and Bournemouth. Future developments must embrace sustainability to ensure the borough, and Dorset, retains its quality of life as this is a key unique selling point for visitors and businesses as well as a driver for the social well-being of our communities.
Much of Dorset is designated an Area of Outstanding Natural Beauty so developments must recognise the importance of the natural environment. To this extent, the Economic and Tourism Development service works in conjunction with the Weymouth and Portland Coast and Country Ranger to improve awareness of our environment, planned recreational management and sustainable tourism initiatives.
