Newport ranks 7th out of 100 UK cities for robust economic growth to 2020 in the Experian Global Economic Forecasting Report and also ranks 3rd in Lambert Smith Hampton’s (opens new website) study of office locations outside London.
The LSH Performance Index provides an indication of performance of 28 centres around the UK using key location criteria and weighting them according to their importance to occupiers. Newport scored particularly well on competitive property costs, property availability, wage levels and the low level of hard to fill vacancies.
There are six junctions on the M4 motorway serving Newport’s major business parks.
Newport is 2 hours from Heathrow Airport, 35 minutes from Cardiff and 55 minutes from Bristol International Airport. The city has a port that handles ships up to 40,000 tonnes and the Newport Transporter Bridge is one of only six transporter bridges in the world.
Newport is being transformed into a “Super-connected city” with a multi-million pound investment in its broadband. Newport is one of twelve cities across the UK to be awarded a share of £50 million from the second wave of the Government’s Super-Connected Cities Programme fund. This will help provide businesses with superfast broadband (greater than 24Mbps ) and ultrafast broadband where possible (at least 80-100Mbps) by 2015.
In Newport Unlimited (opens new website) the city has Wales’ first and only Urban Regeneration Company, with a remit to deliver and implement a major redevelopment strategy for the city.
Since it was set up, Newport Unlimited has helped to secure £230 million of private sector investment into the city. As a result, more than 1,300 new jobs have been created, 72,000 sq m of commercial and retail floor-space has been delivered and planning applications have been submitted to construct more than 10,000 new homes. Almost nine hectares of derelict land has been reclaimed and more than 7,000 sq m of public open space has been created.
Newport Unlimited’s 11-year tenure of city-wide regeneration comes to an end in March 2014.
Labour, employment and education
Newport has a labour catchment of 479,000 within a 30 minute drive time and 1.6 million within a one-hour drive.
Average gross weekly pay for employees is around 94% of the GB average.
Newport is a university city, home to two campuses of one of the UK’s biggest universities – the University of South Wales.
The annual output of first-degree graduates from the five universities within 30 miles of the city is over 17,000.
- is also home to the Alacrity Foundation – a unique initiative to help the UK’s brightest graduates set up a new generation of high-tech companies in Wales.
Property and sites
The average price for a residential property in Newport is approximately 70% of the average for England and Wales.
Business loans and grants
Grants of up to £500 are available for start ups and new businesses less than 12 months old from Newport City Council / UK Steel Enterprise
Newport is a major conference centre with a range of quality venues in and around the city, complemented by the availability of over 3,000 hotel bed spaces.
Newport – host city for The 2010 Ryder Cup – has 27 golf courses in the immediate vicinity of the city, including the Twenty Ten course at the Celtic Manor Resort.