THE ECONOMIC BENEFITS FOR NORTH NORTHAMPTONSHIRE
The economic benefits to North Northamptonshire of the development of Kettering Energy Park will be significant and lasting. There are the easily measurable metrics (below), such as the economic uplift from jobs created during the construction and operational phases, business rates and other contributions to GVA uplift. But the long-term stimulus to economic growth, as the park delivers on its promise, may dwarf these significant early gains.
The strategy of attracting innovators in sustainable technology, alongside a mix of high energy users consuming energy in synergy with each other, is a real game changer in employment development. It has the potential to establish Kettering as a green tech cluster just as the need for such technology is accelerating, attracting the investment, talent and businesses that can lock North Northamptonshire into a virtuous spiral of economic growth.*
CONSTRUCTION PHASE
EMPLOYMENT & TRAINING
DURING THE CONSTRUCTION
PHASE
DURING THE CONSTRUCTION
PHASE (DIRECT & INDIRECT)
OPERATIONAL PHASE
ECONOMIC CONTRIBUTION TO THE LOCAL AREA
Directly support circa
5,000 jobs
once the full development is operational (could be higher depending on employment mix)
Add to the supply of high-quality employment land, with potential to create circa
400,000 sq m
of new employment floorspace to add to pipeline
Ongoing investment OF circa
£167 million
per annum into the local economy (from wages once fully operational)
Employment & Training Initiatives from employers at the site
business rates OF CIRCA
£8 million
per annum
(IN TOTAL)
* The figures shown on this page are estimates that have been derived using common industry practice and reference to publications such as the HCA Employment Density Guide, ONS data relating to the construction sector and Business Rate valuations for comparable developments. Where relevant, lower estimates for employment density have been used and potential benefits rounded down so that the figures are robust.