Nottingham’s tram extension project has helped to boost the local economy by more than £100m according to an independent report.
Nottingham Business School found that the project also helped to provide successful job and training opportunities during the £570m NET Phase Two development scheme.
Authors of the report said that the project should be used as a model example of other major infrastructure schemes such as the development of HS2.
Main findings
- Local economy boosted by £108m
- Regional economy boosted by £169m
- Generated 2,900 years worth of employment in the local economy
- Generated 4,500 years worth of employment in the regional economy
One of the authors Will Rossiter, who is also the head of the Economic Strategy Research Bureau at Nottingham Business School, said: “The creative way in which local social and economic benefits were delivered provides an excellent example to other authorities.
“The targeted approach to generating local employment was particularly valuable because it occurred at a time when Nottingham’s economy had been affected by recession.
“There are real lessons that can be drawn from this project about how major transport infrastructure projects can be used to deliver wider benefits for local communities.”
I’m pleased this report provided recognition
Nottingham City Council’s Portfolio Holder for Jobs, Growth and Transport Councillor Nick McDonald was delighted with the findings of the report.
He 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.
“I’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.”
