12 Oct intu Lakeside makes £322.8 million impact on local economy
Shopping centre intu Lakeside contributed £322.8 million to the local economy last year according to a new report by owner intu.
6,235 local jobs were also supported by intu Lakeside in 2016, representing 8.2 per cent of all jobs in the area.
intu owns many of the UK’s largest and most popular shopping centres and the research from planning consultants Lichfields measured the economic impact of each centre to reveal how much retail destinations and physical stores are worth to their local areas as a result of employment, regional investment and business rates paid.
It found the total contribution by intu shopping centres grew by £700 million in 2016, from £4.2 billion in 2015. The number of jobs they supported across the country increased by 14 per cent to more than 137,000, with a total wage bill of £1.9 billion.
intu’s development pipeline is expected to generate an additional 31,000 jobs and a further £1.95 billion for the economy over the next 10 years.