Peel’s Ocean Gateway – £2bn of capital investment to date

The Peel Ocean Gateway Economic Impact Assessment release earlier this month gives an insight to some of the major achievements of this development and regeneration strategy:

1. Capital investment – £2,075 million of capital investment – of which Peel has contributed over £955 million (current or nominal prices);

2. Temporary employment effects – some 12,980 person years (1,300 10-year equivalent) of gross and 15,750 person years (1,575 10-year equivalent) of net additional construction and other temporary employment;

3. Permanent employment – an estimated 11,280 FTE permanent gross and 8,650 FTE permanent net additional jobs within the Ocean Gateway area;

4. Gross Value Added – by 2013 the projects were generating an estimated net additional annual GVA of £466 million. Between 2008 and 2013 cumulative (ten year) net additional GVA of £1,179 million (constant prices) will be generated by these projects; and

5. New homes – the construction of some 1,300 gross housing units.

The full report can be seen here:

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