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Worthing bounces back with higher net company growth

October 2012

suggesting that the economy of the town is recovering after a difficult period of job loss.

In 2008, Norwich Union announced that all 660 employees at its Worthing office would be made redundant, and in 2009 GlaxoSmithKline confirmed that 250 employees in Worthing would lose their jobs. This news was a major blow to the town, but recent regeneration projects have been helping to counteract the loss of employment.

One of the most significant regeneration schemes is the redevelopment of the Teville Gate shopping area. The project features a nine-screen cinema, restaurants, office space and a health and fitness centre. Two residential towers, containing 229 apartments, are also proposed along with 31 other apartments and parking for almost 1,000 cars.

Managing Director of Duport.co.uk, Peter Valaitis said:

"Not only will this new development attract visitors to the town, it will also create a significant amount of jobs, both during and after construction."

"The rise in net company growth seen in our latest report indicates that business confidence is once again growing in Worthing."

The Duport Business Confidence Report for Worthing provides a valuable overview of the local economy, with statistics on everything from company formation to average director age.

Duport Business Confidence Reports are generated and released by Duport Associates Ltd. The data contained in these reports is assimilated and analysed by Duport using public record data from sources including Companies House, Office for National Statistics and Ordnance Survey. Duport Associates Ltd is a leading UK company formation agent, established in 1997 and registering around 10,000 new companies each year through its Companies House approved software.

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