summary of the report (PDF, 1MB) - My Future's in Falkirk

ECONOMIC IMPACTThe economic outputs for the project, both in short-term construction terms and long-termsustainable terms are significant. These are anticipated being achieved over the 25 years ofthe initiative and assume completion of the developments planned. The estimates havebeen informed by the development and sectoral mix identified in the Upper ForthDevelopment Framework. They reinforce the ambition of the project and its capacity toachieve tangible benefits for the national economy.Figure 7: Comparison of economic outputs for each investment programmeMetricOutputConstruction outputsConstruction jobs (fte) 5,805Construction GVA (£000) 290,605Longer term economic outputsBusiness space (sq m) 409,666Hotel bedrooms 60Net Scottish job impact (fte) 5,984Net local job impact (fte) 8,304Annual GVA (£000) 414,809Source: Ernst & YoungDelivery of the TIF will secure additional economic benefits. It will aid the attraction oftourists to the area (including 300,000 visitors expected annually at the Helix) and will aidtown centre regeneration. In addition, the inclusion of the Council’s long-standingcommunity benefits clauses in the construction contracts will secure training places foryoung people and other outcomes throughout the life of the initiative.Total investment anticipatedas a consequence of theTIF is over£400mDecember 2012 / Falkirk TIF Summary 13