The Economic Case for the Development Sample Clauses

The Economic Case for the Development. The promotion of the site at St Athan for a Defence Technical College and Aerospace Business park has resulted from the opportunity that exists to build upon the skilled workforce that already exists in the area. The defence Training Review has led to an approach of rationalising elements of Ministry of Defence training to a single modern site, and the successful bid to the defence training Review Rationalisation programme was developed and progressed alongside WAGs own proposals for an Aerospace Business Park, to attract new companies and jobs to St Athan. WAG sees this as complementing existing opportunities at Talbot Green, Nantgarw and Cardiff Airport. As part of the application, the applicant has submitted an ‘Economic Impact Assessment’ drawn up following the undertaking of a study to provide information into the potential economic effects of the proposed Defence Technical College and an Aerospace Business Park. The study has quantified the economic effects of the development proposal and where this has not been possible a qualitative assessment has been provided. The Economic Impact Assessment identifies that all the economic impacts identified are positive and are considered to be nationally important and will lead to long term benefits. The underlying study also highlights that a significant portion of these effects may be felt at the local level and that this is likely to be especially important in the context of the current financial crisis. Key findings include an estimate of 5,065 to 6,190 jobs (total net additional employment and includes trainees) as a result of operational activities within the local travel to work area and would represent 2 to 3 per cent of its economically active population (estimated to be 230,500 in 2007). In addition, gross value added within Wales as a result of operational activities is estimated to be £433m to £530m this being significant compared with Welsh gross value added of £44.3 billion in 2007. In terms of construction employment, the Economic Impact Assessment identifies that the direct employment opportunities created during the construction period will cause indirect or multiplier effects as a result of increased spending in the local area and this will in turn generate further job opportunities. The construction programme for DTC is estimated to stand at £830.5 million over the 4 year construction programme. Wider economic effects identified and described qualitatively in the study include: • Positive eff...
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