 Portsmouth International Port is looking beyond its boundary as it sets out an 'ambitious sustainable future' which is expected to generate £739m in ten years.
Global engineering and project management consultants Royal HaskoningDHV undertook detailed market analysis and extensive stakeholder engagement to forecast changes in the trade and travel industry. Central to the plans is a focus on green recovery, as the port outlines its commitments to sustainability in a bid to become one of the UK's most environmental ports.
As a result the port has developed a Masterplan that will focus on:
- - expansion of port land to cater for increase in unaccompanied freight
- - extension of berth to cater for ships up to 300m
- - customs zone for the Solent Freeport
- - customs site operator for the Solent Freeport
- - smart technology to manage cargo and passenger flow
- - sustainable infrastructure to manage alternative power demands
- - net zero by 2030
- - facilitate a new hybrid LNG/electric ferry service
- - upgrade facilities at international cargo terminal Portico
- - new Border Control Post
The developments are expected to generate approximately £800m for the national economy by 2042 and secure over 11,000 jobs following a £92m investment.
 Three Portsmouth economic development projects, that received funding of just under £1.6M from the UK Government through the UK Community Renewal Fund, are now underway. Portsmouth City Council was the only council in the Solent to successfully bid for this fund.
The City of Portsmouth College (formally Highbury College) was awarded £324,500 for its Decarbonisation skills support scheme aimed at the construction industry. The University of Portsmouth was awarded £616,427 for its Enabling XR Enterprise (eXRe) project to create skills, boost communities and benefit the visitor and cultural economy. YTKO has been awarded £619,496 for its Portsmouth Start and Grow, a business start-up service.
The UK Community Renewal Fund supports local areas to trial imaginative new approaches and prepares them to take full advantage of the UK Shared Prosperity Fund which is due to go live in the Spring this year. The UK Shared Prosperity Fund was recently announced by the government as part of the Levelling Up White Paper. This will provide large amounts of funding for councils such as Portsmouth City Council to fund economic development projects over the next few years.
 Portsmouth City Council is proud to be a sponsor for The News Business Excellence Awards 2022.
Cllr Ben Dowling, Cabinet Member for Culture, Leisure & Economic Development at Portsmouth City Council said:
‘Portsmouth City Council have been sponsoring the awards since 2017 because to be championing the very best of our amazing businesses in the city, is fantastic. This year we wanted to sponsor a new award to honour our brilliant creative and cultural businesses in our city.
Now in its 20th year, The News Business Awards have raised the profile of many of our businesses which has supported their growth and development and subsequently made Portsmouth a great place to invest, learn, live, work and visit.
The cultural, creative, digital and visitor economy is the largest employer in Portsmouth supporting in excess of 12,000 jobs. The creative industries have also seen the largest growth in employment of all sectors over the last decade.
We want to continue our work to support Portsmouth's cultural led regeneration in order to make Portsmouth the best place in the UK for business to start, grow and relocate. "
Applications close 28th February
 The application window for the Omicron Additional Restrictions Grant (Omi ARG) and the Omicron Hospitality and Leisure Grant (OHLG) has been extended and will now close at noon on Friday 18 March 2022 and not the 18th February as previously advised.
The Omi ARG grant will support businesses from all sectors that have been severely impacted by the Omicron variant, including those outside of the business rates system. The Omi ARG is a one-of grant of between £400 and £6000 for eligible businesses. Grants will be awarded based on the fixed costs of the business and according to a scale which relates to the extent of the business's reduction in income in December 2021.
The OHLG grant is a one-off grant that has been designed for hospitality and leisure businesses in Portsmouth who have been impacted by the Omicron variant. Eligible businesses can apply for the one-off grant of between £2667 up to £6,000.
Applications must now be submitted by noon on Friday 18th March 2022. If you require assistance to apply please call our Business Helpline on 023 9284 1641.
 The legal agreement giving Dunsbury Park business park special tax status through the Solent Freeport is set to be submitted to the government.
Described as 'the first stage of the freeport', which is expected to attract billions of pounds' worth of investment to the region, the site-specific agreement sets out arrangements for the tax site - one of three tax sites with a total of 10 site owners approved through the bid.
A cabinet report says the agreement 'does complicate matters in creating significant levels of uncertainty in governance, financial and market impact and legal obligations', but adds: 'This may well be an acceptable sacrifice given the wider benefits of freeport status across the region.'
Formal tax status for the business park will be awarded by the end of March following a statutory instrument to be laid before Parliament for 21 days.
The Solent Freeport as a whole will create up to 53,000 jobs over 25 years and it is forecast to bring between £1.5bn and £2.2bn in economic benefits to the region, a 6% increase in GVA.
 Pupis from Cumberland Infant School, a Crowdfund CIL Transformation Fund project
An "open morning" has been set up for any business or community organisation interested in learning about crowdfunding on Tuesday 8 March at Portsmouth Enterprise Centre.
Portsmouth City Council and Shaping Portsmouth have teamed up with Crowdfunder to help make great ideas happen through a combination of match funding, expert crowdfunding coaching and events.
There are currently two funds available with match funding of up to £5000. They are
- Portsmouth Small Business Fund - aimed at business start-ups and existing SMEs looking to grow
- Portsmouth CIL Transformation Fund - which supports community projects that will benefit our wider communities in Portsmouth.
8 March at Portsmouth Enterprise Centre
 It's no secret that there are lots of barriers to growth for the SMEs, and access to finance is one of the most common. The GetSet Solent Growth Grant has been designed to help local SME's unlock growth potential and support new investments to help businesses reach their goals.
Grant Eligibility Requirements
- Businesses need to be located within the Solent LEP Region
- Grants available only to independent or autonomous SMEs
- Grant can be used for capital and revenue investments
- Grant value of 25% of the total investment available for a minimum of £1k and maximum of £25k
- Eligible sectors apply
- 3-month window to purchase project investments after receiving our offer letter
Plus FREE online GRANT SUCCESS WORKSHOPS 23 February & 2 March
This two part workshop is aimed at providing support and guidance for businesses applying for a GetSet Solent grant or any other type of investment
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