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The Isle of Wight economy has grown significantly in the last ten years with employment growth in excess of the UK and South East averages.

Our success has been based on our key sectors: aerospace and defence, marine and advanced engineering, and of course renewable energy. All of these are supported in their contribution to the economy by tourism, retailing, agriculture and horticulture, health and education.
Key Island businesses include BAE Systems, GKN Aerospace, Vestas, Gurit and South Boats. Their commitment to the Island reflects:
  • a skilled, loyal and experienced Island workforce, plus the ability to attract specialist workers from the neighbouring hightechnology south Hampshire micro-economy, and from further afield
  • an impressive record of innovation and technological development, backed by proximity to universities, notably Southampton, one of the UK’s top 15 research universities with its recently launched National Centre for Marine Sciences
  • available land and premises, ranging from managed office space to green field sites and from R&D facilities to logistics opportunities
  • lower overheads – more affordable labour costs, business rates, and property costs compared to much of the South East
  • a marine transport infrastructure, allowing easy transport on and off the Island of both bulk and high value-added items.

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Page last updated on: 22/11/2010