A major independent report has revealed that the construction project to expand Nottingham Express Transit boosted the local economy by more than £100m. The report also says that the project helped hundreds of local people to benefit from jobs and training.
The scheme enabled construction and civil engineering employment in the area to stabilise and provided continuity in local employment during the aftermath of the recession and in the run up to what is now a pipeline of local and regional construction projects. The report concluded that Phase Two:
* Created around 2,900 years of employment in the local economy and a further 1,600 years of employment in the regional economy
* Generated a boost to the local and regional economy of around £108m and £61m respectively
* Recorded supply chain expenditure which generated around £140m of activity in the local economy and a further £77m in the regional economy
* Introduced a targeted approach to procurement, particularly in the explicit attempts to focus on local unemployed people and delivering local employment and training benefits which can be considered as an example of best practice
Cllr Nick McDonald, Nottingham City Council’s Portfolio Holder for Business, Growth and Transport, said: “We’ve been clear that as well as the obvious transport improvements the expanded tram network brings, there are wider economic benefits from its development. ‘m pleased that this report provides independent recognition and analysis of this and highlights the innovative ways in which we ensured local people gained employment, skills and training on the project.”
* The full report can be viewed at http://www.thetram.net/UserFiles/PDFs/NET%20Phase%20Two%20Local%20Economic%20Evaluation%20-%20Final%20Report.pdf.