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Figures Show Economic impact of Crossrail on Jobs and Growth in U.K.

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The stimulus that Crossrail is providing for job creation and growth right around the United Kingdom is revealed by new figures showing that more than half of the project’s supply chain spend is taking place outside London.

The figures, published July 26 by Crossrail, show that in 2012/13:

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  • Throughout its supply chain, the project supported the equivalent of 13,800 full-time jobs right across the U.K.
  • Three out of five of these full-time equivalent jobs (8,310) were outside of London
  • Expenditure in the supply chain was estimated at £865 million ($1.3 billion), of which £460 million ($700 million) – or 53 percent – was spent outside London.

London’s new east-west rail link, which will include the construction of 26 miles of tunnels under the capital, is Europe’s largest infrastructure project and on a scale nearly twice the size of the London 2012 Olympics.

Over the entire course of the project, it is estimated that Crossrail and its supply chain will create at least 75,000 business opportunities and support the equivalent of 55,000 full-time jobs across the U.K. More than three in five (62 percent) businesses currently winning work are based outside London and over half (58 percent) are SMEs.
According to Transport Minister Stephen Hammond: “The Government is taking major steps in getting the economy back on track and the significant impact of Crossrail is further proof that investing in major infrastructure projects is the right thing to do. Not only is Crossrail delivering a world-class transport system and boosting regeneration across London but is also a vital engine for growth for the rest of the country.”

 

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