Press release

March 22nd 2016

FALMOUTH – THE place to live!

Marine and renewable sectors help make Falmouth one of the best places to live in the UK, according to The Sunday Times

Thriving marine and renewables businesses have ensured Falmouth in Cornwall has taken the top spot in the Sunday Times 'Best Places to Live' in the South West.

The burgeoning marine and renewables sectors were highlighted as a key part of the town's success, with the sector 'attracting younger families in search of a perfect work/life balance' in what the newspaper called the 'finest blend of rural and urban in the West Country'.

The town is home to a raft of marine businesses, from the award winning custom build and refit superyacht yard, Pendennis, and the specialist ship repair at A&P Falmouth, to an array of specialist boat builders and companies servicing the marine sector.

Specialist ship repair is now the single largest activity in the Falmouth Docks with a turnover of £45 million. This activity employs an average of 450 employees with a payroll of £14 million and a supply chain benefiting from £18 million worth of orders for supplies and services, a significant portion of which goes back into the local economy. The port is also home to the FaBTest nursery site, and the closest deep-water port to Wave Hub, making it an ideal location for monitoring and maintaining deployed equipment and for large scale fabrication and engineering of wave devices.

The Falmouth marine industry has also diversified over the years to include oil bunkering and cargo servicing.

The town is also home to some of the best sailing waters in the UK, with a large marina popular with sailors from across the globe and is a key stop for many of the major cruise ship companies.

The Sunday Times chose Falmouth as the best in the South West based on the best quality of life to the widest number of people, with positive community spirit, diversity of business and services, and attractive outdoor spaces playing a big part in the town taking the crown.

The town's exciting creative and food and drink sectors were also flagged up as a success story driving Falmouth's future.

The annual in-depth lists also combine data and statistics such as house prices, crime rates and school performance, aligned with the local knowledge and expertise of Sunday Times journalists to compile the definitive top locations in the UK. 

An old saying in the town is that, 'the sea made trade and trade made Falmouth' and that is certainly the case today. Based on a recent survey, the total amount of gross value added to the UK economy (GVA) from the Docks equals to £75 million.

The GVA per job at the Falmouth Docks is £53,570, considerably higher than the South West average of £44,350 per FTE job.  Based on the GVA per job at the Docks, the net total GVA was £82 million in 2009. This economic value has encouraged inward investment and has helped a diverse mix of high-tech, creative and artisan businesses thrive in Falmouth.

The Sunday Times report said: 'There's a salty buzz about Falmouth that shows no sign of abating, so it's on our Best Places list — again. The sea views, beaches, marinas and open countryside are a constant, but at the same time, thriving new industries — creative and digital, marine and renewable — are attracting younger families in search of a perfect work/life balance. And that life is the finest blend of rural and urban in the West Country.”

The report also celebrated the lifestyle Falmouth residents are lucky enough to enjoy, saying: “There's a young, lively feel, thanks to the ever-growing university presence and the harbourside development of shops and restaurants.”

Richard Wilcox from Falmouth Business Improvement District (BID), which acts to improve trading in Falmouth, said that the marine industry makes a vital contribution to the local and regional economy.

He said: “The range of specialist sea-based businesses in Falmouth provide approximately 50% of the local marine related economic income valued at £250 million per annum. This key industry provides some 5,000 local jobs.”

 “It is clear that the marine sector, along with Falmouth's thriving education, creative and tourism sectors, forms one of the pillars of our local economy and contributes to the unique proposition we are lucky enough to have in Falmouth.”

“It is our job as the BID to ensure that this proposition is effectively communicated to drive not just visitors, but also business investment, and new residents, to the town.”

The Mayor of Falmouth, Cllr John Body added: “I am immensely proud of my town. Falmouth truly is a wonderful and vibrant place to live and work. Our environment and townscape is recognised nationally of being of high quality and we receive accolades for the way in which the Town Council engages with its residents and consults with them. There is a tangible sense of community spirit here.