A tenth of the city's workforce works at
Portsmouth Naval Dockyard, which is directly linked to the city's biggest
industry, defence, with the headquarters of BAE Systems Surface Ships located
in the city. BAE's Portsmouth Shipyard has been awarded a share of the
construction work on the two new Queen Elizabeth class aircraft carriers. This
will create 3000 new jobs in the city. There is also a major ferry port which
deals with both passengers and cargo. The city is also host to the European
headquarters of IBM, and the UK headquarters of Zurich Financial Services, and
of Northrop Grumman.
