SOUTHAMPTON'S under-performing economy would create between 10,000 and 15,000 jobs under the partnership vision.

It wants to see the £4bn local economy growing by an ambitious 3.5 per cent a year by 2026 with employment up 13 per cent.

Raising the city's economic activity so it's on par with the rest of the region would bring an additional 7,000 into work.

The recent announcement of Ikea's bid to move to the city would be a welcome 500 job boost to kick start the strategy in the city which is already ranked 7th in the UK for shopping - something widely appreciated among the young.

Southampton currently has about 7,300 businesses and around 105,000 people in jobs.

Within the 20 years, the partnership predicts retail and office space is set to almost double.

It wants more creative and innovative business, particularly in finance, professional support services and knowledge based manufacturing, such as marine sciences engineering, bio-science, as well as creative and media industries.

However manufacturing is to continue to decline.

The trend will see further loss of production at places such as BAT, which last month closed its doors on cigarette manufacturing after almost 90 years with the loss of 550 jobs.

A "can do" and entrepreneurial spirit should be fostered to promote the growth of local enterprise and smaller business, the partnership says.

While a "dynamic business community" needs to recognise the part it can play in supporting the future of the city.

The partnership is keen on raising skill levels through more training and says more land is needed for business use alongside better infrastructure and more homes.

It forecasts a change in the city's ethnic mix with a rising immigrant workforce leading to more competition for low paid jobs.