Councillor Evans OBE (Leader of the Council) introduced the item and discussed:

 

 

a) The update being delivered live from Oceanology International, a biennial global event held at ExCeL London, attracting approximately 15,000 attendees from 90 countries and bringing together leaders in oceanology, marine autonomy and defence related technologies;

 

 

b) Plymouth City Council’s partnership with Team Plymouth, the university sector and the Ministry of Defence to establish a significant presence at the event, showcasing the National Centre of Marine Autonomy and Plymouth’s role in defence led, dual-use innovation;

 

 

c) The value of attendance at international trade events such as Oceanology International and UK REiiF in enabling Plymouth to take its investment proposition directly to developers and companies unlikely to visit the city;

 

 

d) These events providing opportunities for direct engagement, leading to high value discussions and inward investment activity;

 

 

e) Plymouth Freeport was continuing to gain momentum as the UK’s only Defence Industrial Strategy Zone, acting as a magnet for defence, manufacturing and marine autonomy investment;

 

 

f) Babcock’s confirmation of its intention to establish both an Integrated Logistics Hub and an Advanced Manufacturing Facility within the Freeport;

 

 

g) This commitment representeda significant step forward in strengthening regional defence and manufacturing capability;

 

 

h) The securing of significant foreign direct investment, including Helsing’s decision to locate its first UK resilience factory at Langage;

 

 

i) Helsing’s facility producing advanced AI-enabled marine autonomous systems to monitor subsea threats globally;

 

 

j) Proactive action by the Council to ensure the property pipeline was ready to meet rising demand;

 

 

k) The final phase of Oceansgate delivering approximately 14,000 sq ft of high-quality near-water manufacturing and office space within the next 12–18 months;

 

 

l) Council investment at Langage Energy Park having already delivered nearly 50,000 sq ft of premium employment space;

 

 

m) This investment igniting further private sector interest across the wider energy park.

 

 

Richard May (CEO, Plymouth and South Devon Freeport (PASDF)) added:

 

 

n) Plymouth’s delivery of a 60 sq metre stand at Oceanology International, funded through sponsorship from 26 organisations;

 

 

o) Many of these organisations were actively considering investment opportunities within Plymouth;

 

 

p) Sponsors including companies from the United States, Canada, Germany and other international markets, demonstrating Plymouth’s growing global profile;

 

 

q) Plymouth and the National Centre of Marine Autonomy was now leading sovereign capability in marine autonomy;

 

 

r) This leadership was being supported by strong partnerships across industry, research institutions and national catapult organisations;

 

 

s) Early and strategic planning enabling Plymouth to effectively own the uncrewed vessel theme at the event;

 

 

t) Delivery of multiple panel sessions moderated by organisations including the Ministry of Defence, the National Shipbuilding Office, and Plymouth based research bodies;

 

 

u) Live in-water demonstrations taking place, with content streamed directly back to the Plymouth stand;

 

 

v) An 80-page investment brochure promoting Plymouth being shared with all delegates;

 

i) The brochure already receiving over 20,000 online views, significantly raising Plymouth’s international profile;

 

 

w) The formal launch of the National Centre of Marine Autonomy scheduled to take place during the event with national political and civic representation;

 

 

x) Developers attending events such as UK REiiF showing increased willingness to progress schemes within the Freeport due to clear evidence of demand.

 

 

Ian Cooper (Operations Director, PASDF)) reported:

 

 

y) The Freeport bringing forward a strategic portfolio of land and property across designated tax sites;

 

 

z) Council led development playing a central role in unlocking these opportunities;

 

 

aa) The final phase of Oceansgate delivering approximately 14.5 sq ft of prime near waterside office and manufacturing space across eight units;

 

 

bb) An ambition to secure pre-lets on all units ahead of completion;

 

 

cc) Beaumont Way being delivered ahead of programme and within budget;

 

 

dd) The largest unit at Beaumont Way already being let to a defence prime contractor, with further announcements expected;

 

 

ee) Council seed funding and direct development proving critical in accelerating delivery and building private sector confidence;

 

 

ff) Work nearing completion on a development joint venture at Langage Energy Park with an internationally recognised developer;

 

 

gg) The emerging masterplan demonstrating capacity for units ranging from 20,000 sq ft to approximately 400,000 sq ft;

 

 

hh) This scale of development opportunity not being available elsewhere in the region outside Bristol;

 

 

ii) Plymouth increasingly being recognised as the location of choice for defence led growth, supported by placemaking and infrastructure investment;

 

 

jj) Long-term engagement at UK REiiF maturing into tangible development commitments.

 

 

In response to questions, Cabinet discussed:

 

 

kk) The importance of Council led development in addressing market failure and ensuring the availability of suitable employment space;

 

 

ll) The economic rationale for Council investment, particularly in relation to jobs, prosperity and long-term resilience;

 

 

mm) The significance of Plymouth securing Freeport status during the COVID-19 period;

 

 

nn) Plymouth Freeport being announced in 2021 and becoming fully operational in December 2022;

 

 

oo) Plymouth’s strong reputation with central government and its ability to deliver complex national programmes.

 

 

Cabinet agreed:

 

1.     To note the progress made in promoting Plymouth and the Freeport at Oceanology International and other investment events;

 

2.      To recognise the strategic importance of Council led property development in enabling economic growth and inward investment;

 

3.      To support continued engagement through Team Plymouth to secure further defence, marine autonomy and advanced manufacturing investment.