Two North East shopping centres worth £601.8m to local economy
Shopping centres intu Eldon Square and intu Metrocentre contributed £601.8m to the local economy last year according to the owner’s own study.
Nearly 20,000 jobs were also provided by the centres, representing 12 per cent of all jobs in the local area.
intu owns many of the UK’s largest shopping centres. The research by planning and development consultancy Lichfields measured each centre’s economic contribution to their local areas.
It found that including intu’s employees, people working in retail and in areas linked to running its centres, such as delivery and maintenance, intu supported a total of 132,950 jobs and contributed £4.8bn to the UK economy last year. This is an increase on 128,490 jobs and an economic contribution of £4.6bn in 2017.
The number of people employed in retail at intu centres also grew by more than 4%, from 96,350 in 2017 to 100,652 in 2018.
Matthew Roberts, intu chief executive, said: “Retail is a sector that Britain can really be proud of. The best shopping centres employ people in a wide variety of jobs across the length and breadth of the country and are catalysts that create economic and social value.
“intu supports more than 130,000 jobs and contributes billions to the prosperity and wellbeing of communities around the country. Flagship centres such as intu Eldon Square and intu Metrocentre play an important role in the lives of communities across the UK, not only in terms of the jobs we create but also the taxes we generate as well as the causes we support to improve the lives and wellbeing of people in our neighbourhoods.”