12 July 2005

Economic Impact of Devonport Royal Dockyard and Naval Base

Devonport Management Ltd (DML) and Devonport Naval Base have today issued a report of a study conducted by the South West Economy Centre on the Economic Impact of the Devonport Dockyard and Naval Base site. The report updates an earlier version issued in 1999.

The study concludes that the Dockyard and Naval Base complex continues to play a significant role in the economy of the South West region. It is estimated to contribute £383m to regional income and generate almost 10,000 regional jobs. The complex provides an important source of demand for local suppliers with more than 420 local firms receiving some business from the complex. Retail and other consumer-related services also benefit from the expenditure of those employed by the complex. Thus, the Dockyard and Naval Base have an importance in the local economy that goes well beyond their direct contribution to income and employment.