Our Socio-economic Footprint
Our latest social impact report, True Value of Retail was launched with local stakeholder events in Bristol and Leeds. The findings highlight the sheer scale of the impact that our retail destinations are having on the local economy and community, and their combined significance for the national economy.
Stakeholders from Bristol joined us as we shared key findings for the Hammerson Group, and showcased headline data for the city of Bristol.
Key Findings of the research
Here we share a few of our Group Wide headline impacts. For more please download our True Value of Retail: Our Socio-economic Footprint report.
- 40,000 full-time jobs created across Hammerson’s portfolio of retail destinations, with a combined annual wage bill of £800m
- Local residents secure 82% of retail jobs, with almost half (48%) of those under the age of 25
- £40 million invested annually by retailers in skills and training for employees
- £300 million in taxes and national insurance contributions generated by employment through Hammerson’s portfolio
- Business rates from our UK shopping centres and retail parks currently contribute £250 million to the public purse
- Estimated £7 million of yearly cost savings to Government from reduced unemployment benefits and related costs through job creation
The research reveals location specific data for our assets. For example:
Bristol is home to multiple Hammerson destinations including Cabot Circus. Our assets there have generated an estimated 3900 full time equivalent jobs, 85% going to local people.
Download our True value of Retail: Bristol Footprint for more.
Our investment in Leeds has developed Leeds Victoria as a major retail destination. It is estimated this will attract a further £82m of inward investment over the next ten years.
Download our True Value of Retail: Leeds Footprint for more.
Our Socio-economic film
We also presented the fourth video in our series of short films showcasing Net Positive and activity across the Hammerson group. We hope you enjoy..