Representatives from 40 businesses will be at an event to mark the formal launch of Oceansgate, the first exclusively marine Enterprise Zone in the country.
Oceansgate is the new name for South Yard, part of the Devonport Naval Dockyard which covers 35 ha, five times the size of the Royal William Yard.
A marketing campaign gets underway this week to promote Oceansgate to new marine technology businesses.
Around 70 guests from local and national companies are expected at a briefing and tour which is designed to showcase the site and explore the incredible opportunities that could open up. This is the first time businesses have been able to explore the amazing waterfront location. Facilities include docks, jetties and slipways which all have access to deep water.
Property agents Jones Lang Lasalle have been appointed to market the former MOD site at Devonport which is being developed as part of the Plymouth and South West Peninsula City Deal.
Council leader Ian Bowyer said: “This is a huge, long term project that will transform this waterfront location into a thriving site for marine industries.
“While there is a lot of work still to do on site, we need to be talking to businesses and making sure we attract the right companies, with the right prospects to make sure it is a success.”
Over 11 per cent of the city’s workforce is already employed in the marine sector, which means there is a wealth of marine and engineering skills right here. We also have incredible research and development happening in Plymouth.
The site has the potential to bring these two very important sectors together to create more skilled jobs for people in and around Plymouth for years to come, he added.
The project is making good progress with the planning application for the first phase submitted to planners last month. The £7.5m proposal, submitted by Midas Construction are for a front building of offices and two rows of industrial units at the entrance to the site creating 175 jobs.
The facilities are designed to be flexible and easily adaptable so they can include office, design suites, testing labs and training rooms for technology development and prototypes production spaces ad well as workshops for engineering and manufacturing and potentially laboratory space for research.
The design has also taken into account the historic nature of South Yard and reflects the quality of the Plymouth Limestone buildings that exist on the site.
The Enterprise Zone provides tax breaks including business rates discounts and more generous capital allowances as well as super-fast broadband. The Council will be able to reinvest all business rates income in Oceansgate for the next 25 years under the Enterprise Zone designation.
In the latest transfer of land at Oceansgate, 7.5 ha is being handed over to the Council to be redeveloped as a hub for marine related industries as part of the Plymouth and South West Peninsula City Deal, generating up to 25,000m2 of floorspace and creating 1200 jobs This follows an earlier transfer of 7.5ha of South Yard to Princess Yachts in 2010.
A new website devoted to Oceansgate will also go live as part of the launch. Visit www.oceansgateplymouth.com