£84 million to boost Plymouth's defence growth plans

• £84 million package, backed by £50 million from government and up to an additional £34 million from industry and local partners, will make Plymouth a national leader in defence maritime autonomy.
• Investment will create nearly 1,000 jobs and support 500 people into work, with a new National Centre for Marine Autonomy.
• Over 400 UK businesses will benefit, alongside new skills and training opportunities for thousands of young people in Plymouth.

Lord Coaker was in Market Hall in Plymouth today where he approved Team Plymouth's strategic business case and announced the delivery of a major package of investment that will strengthen national security, support local businesses and help drive the city's reindustrialisation.

The investment confirms delivery of Plymouth's National Centre for Marine Autonomy, expected to create 120 jobs and attract more than 30 businesses, including start-ups and scale-ups developing advanced maritime technologies.

Alongside the investment in business and innovation, the newly confirmed £1.5 million 'Get Plymouth Working' scheme will help 500 people into jobs in defence, advanced manufacturing, engineering and construction, with a focus on veterans and young people aged 18 to 25. Around 750 people will gain new technical skills and qualifications, while more than 7,000 young people will benefit from STEM training.

More than 400 UK businesses are expected to benefit from the wider programme, including support for firms working in robotics, artificial intelligence and autonomous systems.

Defence Minister Lord Vernon Coaker said:

The £84 million investment will establish Plymouth as a national leader in defence maritime autonomy, creating high-skilled jobs, backing businesses and providing new training opportunities for thousands of local people.

By bringing together Government, industry and local partners, we are creating nearly 1,000 jobs, developing the skills our Armed Forces and defence industry need, and establishing Plymouth as a leading centre for marine autonomy. This is investment that strengthens our national security while backing British jobs, businesses and communities.

Sir Chris Gardner, SRO, Team Plymouth:

Today marks a major milestone for Team Plymouth and the partners who have worked together with a shared ambition to unlock this city and wider region's potential.

The release of the Defence Growth Deal funding will help further establish Plymouth as the UK's National Centre for Marine Autonomy, creating jobs, supporting businesses and investing in the skills needed for the future.

Neal Misell, Babcock CEO, Nuclear, said:

The Plymouth Defence Growth Deal demonstrates what can be achieved when government, industry, education and local partners come together around a shared ambition. As one of the region's largest employers and a founding member of Team Plymouth, Babcock is proud to be at the heart of this partnership.

We are connecting people directly to the needs of industry, and that connection is critical to turning Plymouth's defence strengths into lasting capability, skills, jobs and economic growth for the region.

Plymouth and the South West are already at the heart of UK defence. The MOD spent more than £6.6 billion in the South West in 2024/25, directly supporting 37,300 industry jobs with almost £400 million going to SMEs.

In addition, £7 billion is already being invested in HMNB Devonport as part of the largest naval infrastructure programme since the end of the Cold War.

This latest investment will also support regeneration of the Turnchapel waterfront and the development of new industrial and commercial space across the city, helping growing businesses expand and creating the conditions for long-term economic growth.

Lord Coaker visited HMNB Devonport, City College Plymouth and Babcock International during the visit, meeting local leaders, educators, businesses and students to see how defence investment is already supporting jobs, skills and growth across the city.