Construction
The story so far...
The Construction sector in Basingstoke is one that has experienced continual growth. With an industry GVA that made up 9.67% of the boroughs total GVA in 2019, the construction industry is of significant importance to the Basingstoke and Deane economy. While not considered a priority sector, the industry has had a significant role in helping to deliver the towns local plan in regards to housing fulfilments but also helping to redevelop the borough in several projects.
Using the ONS Nomis labour market profile for Basingstoke and Deane, the construction sector employs the joint fifth most in the borough, at 5,000 people. While this is a rounded figure, it is a clear indicator that the construction industry has strong roots in the borough and is a significant employer for the residents of the borough. In the five years leading up to COVID-19, the sector had experienced 27.5% job growth but has since declined 16.5% to levels seen in 2015 before a boom in the industry within the borough. The cause for slight concern in regards to the construction industry can be compounded further with a net loss of 67 jobs in 2022 so far with -1.4% job growth lagging behind both the South East and national trends which have 2.1% and 0.4% job growth respectively.
Where are we now?
- 981 companies in the sector based in the borough (Q2, 2022)
- 4,832 jobs (2021)
- 5% borough workers are employed in the sector
Harnessing our talent
For many companies, the talent pool is an important factor in their choice of location. Basingstoke is a place where great ideas are shaping things to come. Developing firms of all sizes in the industry and the entrepreneurs of today and tomorrow can locate themselves within a borough that has the construction industry at the heart of its economy.
Our competitive advantage:
- A healthy mix of home-grown businesses and multinationals, from property development to building services, firms are already here, employing 4,832 people.
- Supporting the development of construction firms – providing support that allows the construction sector to thrive in uncertain economic conditions.
- A 1.9% growth in new construction work demonstrates the continual need for skilled workers within this sector moving forward.
- Access to talent at trainee, graduate and post-graduate level, for student placements, work experience, projects, R&D and recruitment.
How we can help
The Economic Development team can save your business time, money and effort by utilising our expert knowledge of the area. We can help you with:
- your property search
- recruitment and training
- making introductions to the business community
- connecting your business to growth support
- co-ordinating with our internal teams to make your move as smooth as possible
- promotion following your move to Basingstoke.
Get in touch via business@lovebasingstoke.co.uk