Economic Outcomes

PUSH's vision, rooted in our research on economic drivers and growth, is firmly based on achieving an upward step change in South Hampshire's economy. The long-term aspirations in the currently adopted Economic Development Strategy are:

	2006-2011	2011-2016	2016-2021	2021-2026
GVA growth rate	2.75%	3.0%	3.25%	3.5%
Productivity growth rate	2.0%	2.4%	2.6%	2.7%
Employment	+18,000	+14,000	+13,000	+14,000

The detailed economic outcomes we are seeking through the currently adopted Economic Development Strategyare:

Economic Outcomes 2006-2026
Raise the annual growth rate in the sub-regional GVA (Gross Value Added) from 2.75% pa to 3.5% pa including closing the gap between those areas which are lagging behind the sub regional average growth rate and those areas performing more strongly.
Create 59,000 net new jobs, particularly in key knowledge based sectors
Provide 2 million square metres of new employment space fit for modern business needs, including a new location at Eastleigh Riverside
Increase innovation and business start ups, provide effective support to growing companies and support improved productivity more generally
Improve skills levels throughout the workforce particularly in those sectors where skills deficits are most acute
Increase economic activity by improving the skills and employability of people currently outside the labour market
Increased inward investment from both domestic and international companies
A stronger support sector to underpin the attractiveness of the sub-region to new and expanding businesses

These targets will be reviewed and the overall strategy updated in the light of the outcomes from the review of the underpinning economic evidence based currently underway.

To exceed historic economic performance and achieve these headline aspirations, the activity undertaken to promote economic growth will need sustained transformation. Just continuing what has historically been done or doing it slightly better will not achieve the stepchange in economic growth that is needed.