Nuclear South West’s role in powering the regional economy has been highlighted as new figures showed the Hinkley Point C power station project has been worth almost £1.7 billion to the area.
The Heart of the South West Local Enterprise Partnership referred to Nuclear South West as new figures released in the project’s latest Socio-Economic impact report shows that it has boosted 1,100 businesses across the region.
Somerset has benefited to the tune of £368 million of the spend, whilst the Bristol area has seen £448 million spent with £147 million spent in Gloucestershire and £59 million in Devon.
The report also shows that:
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644 apprentices have now been recruited so far, from steel fixing and crane operations to commercial management and hospitality
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More than 10,000 jobs have been created to support the project so far and it is on track to hit a target of 25,000 by the end of construction
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11,000 people have been trained and assessed in Somerset at the Construction Skills Centre. New facilities such as a Welding Centre of Excellence are being established to help to overcome nationally significant skills gaps
The report shows the project has smashed an initial target of £1.5 billion spending across the South West, set during the planning of the new nuclear power station in 2012 and was reached early thanks to a continued focus on using local suppliers.
Hinkley Point C has worked with organisations like the Somerset Chamber of Commerce, SWMAS and Local Enterprise Partnerships to bring a variety of businesses into the supply chain. Firms range from catering and hospitality suppliers to steel fabrication, electrical engineering and logistics specialists.
Commenting on the report, Karl Tucker, Chair of the Heart of the South West Local Enterprise Partnership, said:
“We welcome the news that the regional investment target for Hinkley Point C has already been beaten.
“The LEP invested some £30m into training, skills and workforce development to maximise on its economic benefits through projects such as the National College for Nuclear, the Institute of Technology, the Welding Centre of Excellence and road and rail infrastructure and innovation.
“With our partners at the West of England LEP we invested £1m in the Hinkley Supply Chain which enables local businesses to secure contracts from its development and operations.
“We’re also one of the major stakeholders in shaping and growing the regional nuclear cluster through Nuclear South West – a partnership between three LEPs, academic sector and nuclear industry network – which generates the on-going legacy that Hinkley Point C brings to the wider community.
“We look forward to continuing to work with these partners in the post-COVID-19 climate; in which clean energy will play a significant role in boosting the national economy.”
Hinkley Point C Managing Director, Stuart Crooks said:
“This report charts another year of success for Hinkley Point C in delivering on our ambitious targets for social, economic and environmental benefits. As the country and our region emerge from the current crisis, we will serve as a catalyst for national recovery – both through this project and the follow-on project at Sizewell C.”
Stephen Henagulph, Chief Executive of Somerset Chamber of Commerce, said:
“We’re extremely proud to be playing our part in this hugely important infrastructure project and to help secure a legacy for Somerset’s highly-skilled and diverse business community through collaborative working with EDF.
“To have Hinkley Point C on our doorstep is a huge opportunity and to be able to ensure local businesses can prepare for and win contracts for the project has been hugely rewarding for the Hinkley Supply Chain team, which is overseen by Somerset Chamber.”
Councillor David Hall, Cabinet Member for Economic Development, Planning and Community Infrastructure at Somerset County Council, said:
“This is a much-needed financial boost to our region at what has turned out to be difficult and unprecedented times. I am incredibly proud and impressed at how Somerset businesses have seized the opportunities the HPC construction project has presented – the economic and skills boost to the region is vast and will undoubtedly create an industrial legacy for the region.
“It is extremely promising to see this target being exceeded in such a short time and shows the power and potential of the construction project. I have said it before, but it really is the biggest boost to the economy of the region for a generation and looks set to get even bigger in the years to come.”
The full EDF report can be read here.
