Summary & Conclusion

This Statement sets out the potential economic benefits which could be attributed to a 100-unit residential scheme in Chester City Centre. It concludes that such a scheme has the potential to generate the following:

The potential to support up to 100 FTE construction jobs;

The potential creation of 150 indirect employment opportunities;

Additional spend in the local economy from new residents with an average disposable income of £52,200 per household;

Additional spend in the local economy from construction workers;

Approximately generate between £609,173.52 and £957,271.54 in New Homes Bonus over 4 years; and

Approximately generate between £152,905 and £240,279 in Council Tax Revenues per year.

These benefits are not insignificant in nature and will contribute significantly to the income of the local authority and the local economy. Consequently, they should be seen as a key benefit of delivering residential development in Chester City Centre.