SOUTH Hams is set to benefit from the historic city deal for Plymouth and the South West Peninsula, which could see £296m pumped into the region over the next 15 years.

South Hams Council leader, Cllr John Tucker, was among a host of partners who signed the historic deal on Friday, January 17 at Princess Yachts in South Yard.

Through the deal, approved by the cabinet office last Friday, local businesses in the district will benefit from extra support, and young people from the South Hams will be helped along the path from learner to earner.

The flagship proposal of the deal seeks to unlock land at South Yard in Devonport for a marine industries production campus allowing the region to play to its strengths in the field of marine technology and research. 

 Cllr John Tucker said: 'This is brilliant news for the whole of the region and I'm delighted it has come to fruition after so much hard work by all those involved.

'Our district has much expertise in the marine industry, as you might expect from an area with such a stunning coastline, and we are well placed to provide specialist support for this sector.

'But the city deal goes much further with funding and support for businesses in general and a host of initiatives to help them grow and develop.

'I'm particularly pleased that the city deal is also offering help to young people particularly those finding it hard to get a job.

'It has come at just the right time and our challenge now is to maximise the benefit for our district.

Noss-on-Dart Marina at Kingswear is one of the sites in the South Hams that could benefit as part of the investment in marine technologies sector. 

Langage Energy Park, in Plympton, is also included in the city deal as a major strategic employment development site and one of those likely to benefit from supply chain development opportunities for marine businesses that are not dependent on being right next to the waterfront.

However, the deal could benefit other development sites in the district, as well as many businesses through the provision of business support and help for young people to access future job opportunities.

Following the signing of this deal, Plymouth City Council and the Heart of the South West Local Enterprise will begin detailed discussions with the Ministry of Defence over potentially releasing land at South Yard,.

This could provide a prime location for the marine industry, due to its close proximity to other companies in the sector and has access to deep water which is needed for marine research, development, and testing.

In return, the peninsula partners will fund the development and infrastructure needed to clear the way for up to £60m of private sector investment.

Business growth support will be supercharged to the tune of £24m of private and public sector money to help existing businesses flourish here as well as attract new investors.

This will include an array of practical initiatives which fill recognised gaps of support for the area's 25,000 businesses to ensure their products and services reach the right markets, that companies maximise export opportunities and enjoy tailored support.

In addition, the plan is to expand the GAIN network using £5.8m of regional growth funding to encourage businesses of all sizes to tap into local expertise and existing support programmes. Crucially, it offers support from the UKTI to encourage businesses to develop export potential.

There are also plans to help over 1,500 young people into work, thanks to a package of initiatives that aim to give the next generation skills.   

The deal will see the biggest wage progression project in the country, with career coaches and intensive support for young people to graduate from learner to earner, tackling the region's higher than average percentage of young unemployed.