Economy
Hull is a great city with a proud industrial and commercial heritage. Today there are around 5,000 VAT registered businesses within the city’s boundaries and thousands more in close proximity in neighbouring areas.
The Humber estuary is a key asset for the region and the port of Hull is handling ever increasing amounts of trade. Hull retains a strong and increasingly advanced manufacturing base providing more than 20% of jobs. The city is home to world class companies, small and large, in sectors such as food, health, pharmaceuticals, chemicals, communications and the caravan industry.
Despite these strengths, the city’s economic transformation since the decline of traditional industries such as fishing has yet to be completed. This has led to lower than average employment bringing with it a range of socio-economic consequences.
It has been estimated that the city needs to create another 1,600 businesses and 15,000 quality jobs over the next decade to fulfil its economic potential.
The challenge for the city to regenerate is clear. The Forum is committed to working with partners in the city to deliver the stronger economy, improved education and better transport links which will make Hull a more prosperous place for its businesses and residents.
Further economic reports are available in our downloads section