Comment on BAE systems job losses
Wednesday, 06 November 2013
Commenting on the recent announcement by BAE systems, Hampshire Country Council's, Executive Member for Economy, Transport and Environment, Councillor Seán Woodward said: "Whilst the announcement today is a major blow for the region, we are relieved to see that BAE have confirmed their long term commitment to Portsmouth. BAE Systems' operations are a critical component of the Portsmouth economy, and Hampshire County Council will support any efforts to retain shipbuilding in the City, to ensure that Portsmouth continues to play a key role in the Navy's operations into the future. At the same time, we need to ensure that the supply chain associated with ship building in the area has the appropriate support to successfully diversify its client base, and where possible, to access markets beyond the UK. The marine and maritime sector is a dominant element of the Solent region's economic profile and one which differentiates the region's contribution to the UK economy. Hampshire County Council is working closely with partners including the Solent LEP, Southampton City Council, Portsmouth City Council, Marine South East, UKTI and others to create the business environment in which this sector can continue to grow and sustain significant employment opportunities."
A recent report on the socio-economic impact assessment of Portsmouth Naval Base by University of Portsmouth for the Partnership for Urban South Hampshire and the Solent Local Enterprise Partnership highlighted the importance of the Portsmouth Naval Base as a whole to the local economy with their activities producing more than £1.68bn of economic output. Every £1m directly generated by the base stimulates another £750,000 of spending in other sectors in the surrounding economy and for every 100FTE jobs at the naval base 66 jobs are stimulated elsewhere.