intu Braehead boosts local economy by £334.9m

intu Braehead boosts local economy by £334.9m

Shopping centre intu Braehead contributed £334.9m to the local economy last year, according to a new report by its owner intu.

A total of 8,226 local jobs were also supported by intu Braehead in 2016, representing 10% of all jobs in the area. 

intu owns many of the UK’s largest and most popular shopping centres and the research from planning consultants Lichfields measured the economic impact of each centre to reveal how much retail destinations and physical stores are worth to their local areas as a result of employment, regional investment and business rates paid.

It found the total contribution by intu shopping centres grew by £70m in 2016, from £4.2bn in 2015. The number of jobs they supported across the country increased by 14% to more than 137,000, with a total wage bill of £1.9bn.

intu's development pipeline is expected to generate an additional 31,000 jobs and a further £1.95 billion for the economy over the next ten years.

Regional centre director with responsibility for intu Braehead, Peter Beagley, said: “Creating and managing retail and leisure destinations that customers want to visit helps businesses flourish across the country, drives up investment in towns and cities and establishes real local prosperity.

"The jobs they create cater for a wide range of skills and abilities and deliver more entry-level and flexible routes into employment.”

Alexander Nicoll, corporate responsibility director at intu, added: “We invest millions in our centres and their local communities every year.

"This allows us to create long-lasting and positive change by delivering skills, employment and health and wellbeing.”