The UK Port of Barrow’s annual contribution to the UK economy could be set to grow by £30m in the next decade, taking its total annual contribution to £137m.
That’s according to new research by Edge Economics, who also found that the port’s job growth could be 40% - equivalent to 1,700 roles.
Currently, the port contributes £107m to the UK economy, including £89m to the town of Barrow-in-Furness, and economic activity there supports 1,200 jobs across the UK.
A recently-completed Strategic Port Masterplan by Associated British Ports (ABP), which owns and operates the facility, will also ensure that it is well-positioned to continue to play a vital link in the Cumbrian supply chain as one of the most important ports in the region.
A group of Cumbrian business and political leaders gathered in the House of Commons to celebrate the launch of the new study to mark the port’s 150th anniversary.
Commenting on the port, John Woodcock, MP for Barrow and Furness, said: “With the investment set to flow into the shipyard in the years ahead, we can look forward to a very bright future for the whole town, and the port is critical to that success.”
Andrew Harston, ABP’s Short Sea Ports director, said: “The findings of this new independent study have revealed the true extent of the port’s contribution to the local and national economy and opportunities for growth in the years ahead.
“We hope that thanks to its unique position at the heart of the UK Energy Coast and increased economic activity serving the energy industry in the Irish Sea, the Port of Barrow will see its role increase in the decade ahead.”
