The rise of the tech sector, alongside buoyant consumer spending, further expansion of the maritime industries and inward investment, are responsible for the recent strong economic growth of the markets around the M27. Oxford Economics figures demonstrate this, showing that the seven local authorities of the M27 corridor (Southampton, Portsmouth, Winchester, Eastleigh, Fareham, Havant and Gosport) saw economic growth reach 13.7 per cent over the past five years, which is above the UK average of 10.9 per cent.

Traditionally this has been a maritime hub, but technology is among the fastest growth sectors in the M27 corridor, increasing by 32.9 per cent over the last five years according to Oxford Economics. The area is well known for its universities, and it is the students attending these institutions that are the driving force behind the area’s emergence as a tech hub. One of the ways of ensuring the sector continues to grow is increasing the retention of talented students in the region after they have graduated. This can be done through the creation of interesting and inspiring places of work and the M27 corridor has seen a spate of office refurbishments. Within these offices there is plenty of scope to create innovative and exciting fit-outs that appeal to this demographic.

The University of Southampton Science Park has helped provide work space, advice and support for small digital science and tech businesses. Portsmouth and Southampton Solent universities also specialise in engineering, sciences and the creative industries.

However, the current lack of supply in the office market needs to be addressed in order to allow the tech industries to continue to flourish. Creating smaller clusters on the M27 corridor through new development, both residential and commercial, in cities such as Portsmouth, Southampton and the surrounding area will help significantly.

Further information

Read more: 'The M27 corridor needs more homes and office space to support strengthening economy' or 'The Future of the M27 Corridor'