Poole, Bournemouth, Christchurch, Wimborne and Ferndown form an economic conurbation in south eastern Dorset, with over 62% of the County's population, or some 435,000 residents. It forms the South West region's second largest urban area bordering the South East region, within easy reach of London and continental Europe. It is the largest non-industrial conurbation in Europe.
The strength of the conurbation's economy lies in the diverse mix of sectors and balance of service and manufacturing businesses. At the same time, there are sectoral concentrations in different parts of the conurbation which are likely to see further growth. In particular, a strong marine sector in Poole is regionally significant and is reflected in the decision to establish a Marine Skills Centre in the town. Sunseeker International alone accounts for around 5% of the UK's marine industry in terms of employment and contributes £164 million a year to the local economy. Bournemouth, with companies such as Portman Building Society and JP Morgan, have a concentration of financial and business services which are worth nearly £3 billion GVA a year to the conurbation. At the eastern end of the conurbation, Christchurch and East Dorset are strong in aviation and aerospace with BAE Systems (British Aerospace) and Cobham plc and Bournemouth Airport's Aviation Park, a centre of aviation excellence. An important emerging sector is the creative industries, supported by Bournemouth University and the Arts Institute at Bournemouth with its newly-created Enterprise Pavilion accommodating fledgling media and creative businesses.
Employers in the conurbation have access to a skilled, well-qualified, stable workforce, with labour rates below the national average. There is a strong culture of enterprise and innovation and employment in higher skilled occupations is increasing. This area is in a strong position to see major growth of the knowledge economy.
With an impressive countryside and heritage coast - 53% of Dorset is designated as an Area of Outstanding Natural Beauty - the local environment will continue to be a key attractor to businesses and their employees.
The local authorities, University and other educational establishments and business support organisations have a track record of working together to support and develop a strong and forward-looking economy. Specific services offered are detailed in the section on Business Support.
The town is justly proud of its strong Financial Services sector. Many global financial services companies have a presence including JP Morgan, Portman Building Society, currently the UK's third largest society, Unisys, RIAS, Teachers Assurance and many more. Key factors attracting firms to the conurbation are the lower commercial property rents, the availability of a skilled local workforce and lower wage levels relative to national levels, easy access via road, rail, sea and air and the superb quality of life.
As an internationally renowned tourist resort and conference centre, Bournemouth attracts over five million visitors each year, generating over £500 to tourism related businesses. Business tourism helps to sustain Bournemouth's all-year-round appeal by attracting in excess of 300,000 delegates and visitors each year.
Following the recent £22 million investment, the Bournemouth International Centre will now be able to maintain its position as one of the UK's most successful venues for conferences, exhibitions and entertainment. Conferences alone are expected to contribute over £70 million per annum to the local economy.
Within the ten key sectors identified by the South West Regional Development Agency, Banking, Finance and Insurance, Retail, ICT, Tourism and Leisure and Creative Industries contribute the majority of the town's total employment (52.46%) Banking, Finance and Insurance remains the largest employer with 23.8% of total employment followed by Retail with 21%. Bournemouth has a thriving youth culture, boosted by students at the local college and university and overseas students. It is the UK's largest centre for learning English as a foreign language outside London. The town centre is vibrant and cosmopolitan with superb shopping, excellent cafes and restaurants, clubs, bars, cinemas and casinos.
New developments include Bournemouth's Village Hotel and Leisure Club which has recently located on the Wessex Business Park with 116 bedrooms. The hotel employs over 220 full and part-time staff, the majority recruited from the Bournemouth and Christchurch area. Oxford Road has seen the expansion of its site with two blocks of student accommodation and offices for university use. St Paul's Square has recently received planning permission for a mixed use development including a significant new office block. The town centre has seen the completion of a new retail development in Commercial Road that has been let to Zara, H&M, Ann Summers and Republic.
Poole is best known for its beautiful harbour, World Heritage coastline and award-winning sandy beaches. Local people and visitors alike appreciate the superb quality of life offered by the town, a key factor in the significant population and employment growth of recent years. The extensive waters of Poole Harbour, one of the world's largest natural harbours, provide a magnificent haven for recreational sailing and water sports as well as a prosperous, medium-sized commercial port. Brittany Ferries and Condor Ferries operate passenger and freight services to Cherbourg, France, including a fast catamaran service carrying up to 732 passengers and 185 cars across the Channel in just 2 hours 15 minutes. Cargoes include continental RO-RO, conventional cargoes, offshore/onshore oil support for BP Exploration and bulk cargoes such as steel, sand, gravel and fuel. Boatbuilding is also a major harbour activity, with Sunseeker International, the world's largest privately owned boat company, employing over 1800 staff in the production of their range of luxury boats.
Not surprisingly, tourism still plays a major role in the vitality and prosperity of Poole, generating up to £150m income each year into the local economy and supporting around 5,000 jobs. Hotel room occupancy rates are envied by most resorts around the UK. Even following significant recent investment in new hotel stock in the town, 2005 (latest) recorded annual average occupancy rates of 68%. Today, Poole has a diverse and strong economic base with many world class companies including Sunseeker International, Barclays Bank plc (2,000 work in Poole at their national payment processing and HR, finance and IT support centre), American Express, Siemens Traffic Controls Ltd, Newsquest Media Group, Poole Pottery, Lush Manufacturing Ltd, Wilts and Dorset Bus Company, Ryvita, Sealed Air Ltd (food packaging), Kerry Foods Ltd, Hamworthy Combustion Engineering Ltd, and Liverpool Victoria (the UK's largest friendly society) to name but a few.
Since receiving Government approval in October 2006, preparations are well advanced for Poole's second harbour crossing, the 'Twin Sails' bridge, which is set to become an icon for the town and will unlock one of the South West's largest urban regeneration projects on and around the waterfront. Plans include over 36,000 sq m of new business and employment floorspace, 2 new hotels, 1,900 new flats and houses, 1,200 metres of new public waterfront and an estimated 5000 new jobs . There is an air of confidence in Poole at the moment with much development either happening or planned around the port and on other sites around the town. A new waterside residential and restaurant development on the Asda site is due to finish by the summer 2007. The Pitwines and Seldown residential schemes (Poole Quarter) are nearing completion. Many more development projects are expected to be launched over the next year that will maintain Poole as a desirable place to live, work and visit.
Christchurch may be one of the smallest boroughs in the country but it is also a place of great diversity. It contains an ancient but thriving market town, unspoilt coastline with views overlooking the Isle of Wight and Purbeck Hills; a beautiful harbour; two river valleys and attractive countryside. Christchurch town centre, with its Priory and waterside setting is familiar to many visitors who come to the town. The Borough has a strong employment base having over 1,300 national and international businesses, with particular strengths in manufacturing, aerospace, tourism and retail. BAE Systems occupy a major site to the east of the town adjacent to a number of thriving industrial estates. Other major employers include electronics firm Penny & Giles, steel fabrications exporter John Reid & Sons, castors manufacturer Revvo and aircraft spares manufacturer Beagle Aircraft.
Bournemouth Airport is situated in the Borough of Christchurch and, in addition to being one of the fastest growing regional airports in Europe, contains the largest employment site in Dorset. Aviation Park extends to 80 hectares (200 acres) and is both a centre of aviation excellence and a location for high-tech and general industry. Some 200 businesses, employing approximately 5,000 people, are already located at the park, including an impressive number of major companies such as FR Aviation, Bournemouth Airport Services, AIM Group, European Aviation, Honeywell, Channel Express, The College of Air Traffic Control, VT Aerospace, Hobbycraft, VAI Siemens and Lester Aldridge. Aviation Park has enjoyed virtually full occupancy during the last five years, but opportunities exist for new commercial development which are outlined in the section Development Opportunities in the Conurbation.
East Dorset forms the eastern section of the county adjoining Hampshire to the east and Wiltshire to the north. Although there have been significant recent increases in employment in the service sector, manufacturing still provides the largest number of jobs in East Dorset. The area retains its reputation as a favoured location for advanced engineering businesses. Wimborne is the home of Cobham plc and Meggitt plc, two of the largest advanced engineering companies in the South West of England. An increasing number of foreign-owned businesses have found East Dorset to be an ideal location to base their UK operation. Notable amongst these is Key Industrial Equipment Limited who have recently built their headquarters on the Ebblake Industrial Estate, Verwood. Farrow and Ball, the internationally-known manufacturers of quality paints and wallpapers is a major employer on the Uddens Estate, Ferndown.
New industrial land has been brought forward for development at Cobham Gate. This 8.5 ha (21 acres) site forms an extension to the largest industrial estate in Dorset. It is intended to be a mixed development with Office and Industrial units with opportunities for freehold ownership. For more information see Development Opportunities in the Conurbation.
