Meadowhall’s economic contribution to Sheffield City Region revealed by PwC

Meadowhall Shopping Centre in Sheffield supports one job in every 100 in the area, contributes 1p in every £1 in the local economy, and accounts for 18% of the business rates collected in Sheffield, according to a review by professional services firm PwC published today.

Commissioned by British Land, joint owner of Meadowhall, to evaluate the impact of Meadowhall on the Sheffield City Region since opening 25 years ago, the report reveals for the first time the entire contribution the centre makes to the the wider city region.

According to the review, Meadowhall provides direct employment for up to 8,500 people at peak times annually, and has supported over 660 apprentices over the past five years. Combined with the additional jobs created in the supply chain, one job in every 100 in the Sheffield City Region is supported through Meadowhall’s activities.

In 2003, in partnership with Sheffield City Council, British Land set up The Source at Meadowhall, a National Skills Academy for Retail and the only Centre of Vocational Excellence for Retail in South Yorkshire. According to PwC, The Source generated a social return on investment of £53.4m in 10 years, three times greater than the total invested.

The focus of The Source is providing recruitment and training opportunities for people living in the Sheffield City Region, in particular those aged between 18 and 24. The Source helps to build careers in retail and, through the provision of apprenticeships, offer alternatives to further education.

Chris Grigg, British Land’s chief executive, said: “For the first time, Meadowhall’s positive impact and contribution have been independently quantified and the results are significant. Arguably the most important finding of the report is the exceptional role Meadowhall plays in creating not just employment, but careers in retail and leisure for thousands of people in the Sheffield City Region.

“We are very proud of the contribution Meadowhall has made and will maintain this position as Sheffield grows, with Meadowhall playing a key role in the Council’s exciting plans to ensure the city takes its rightful place at the heart of the Northern Powerhouse.”

Ann Cadman OBE, director of The Source Skills Academy, added: “It was clear from the start that Meadowhall would be a huge success and had the potential to change the lives of many local people for the better. 25 years later, just look at what Meadowhall contributes to our Sheffield City Region – one job in every 100 is supported by the centre, 1p in every £1 can be traced back to Meadowhall, and the team has built a strong reputation for working to make a positive local difference. As the findings of this report highlight, Meadowhall creates prosperity and opportunity for the Sheffield City Region, and its significance to Sheffield’s future generations should not be underestimated.”

The findings of the independent review also found that Meadowhall has contributed £4.4bn gross value added (GVA) to the Sheffield City Region over the past 25 years. Furthermore, the report identified that 18% of all business rates collected in Sheffield City Council come from Meadowhall, accounting for £176m over the last five years, with total UK tax contributions of £303m.