Business & Economy
Sunderland regeneration schemes add £12.4 million to local economy
July 24, 2020
New figures released by North East contractor, Esh Construction, reveal that seven regeneration schemes have pumped £12.4 million into Sunderland’s economy.
The projects include Sunderland Strategic Transport Corridor, the International Advanced Manufacturing Park (IAMP), Port of Sunderland, Greenwells Quay and Sunderland’s new football hubs at Potter’s Hill and the Minster Quarter.
The economic impact of the council-led projects has been calculated on the basis of money spent with local suppliers and sub-contractors who have supported Esh.
Sunderland residents make up 15 per cent of Esh’s workforce and the contractor recently opened an office in the city.
Councillor Graeme Miller, leader of Sunderland City Council, which has worked with Esh on projects worth an estimated £75 million since 2018, said that the community would feel the benefits of the council’s investments for years to come.
He said: “Community wealth building through commissioning that delivers opportunities for local people and businesses is something we committed to some time ago, and we’ve been absolutely steadfast in that commitment.
“Working with partners like Esh, who share a commitment to sourcing locally wherever they can, has allowed us to maximise the local impact of our investment projects and their work with our communities, including a schools programme that will demonstrate to our young people the range of careers available to them in the city, will do much to raise aspirations in Sunderland too. It’s a very fruitful partnership.”
Esh was appointed to deliver the SSTC3 project – a £35 million contract as part of a £70.8 million programme to improve connectivity in the city – which is due to complete in Autumn 2021.
Ross Markwell, director of business development at Esh Construction, said: “The importance of protecting the ‘local pound’ is paramount in the current climate – as a local contractor we strive to deliver economic benefit for our clients and their communities.
“Across these seven regeneration schemes, we have re-invested 16.5 per cent of the total project spend back into Sunderland’s economy through responsibly procuring local suppliers and sub-contractors.”