Partner Article

£25m boost to economy from Castleford housing development

David Wilson Homes’ Yorkshire West Fellows Place development, which is now fully occupied by new homeowners, has delivered just under £25 million to Castleford in economic output over the duration of its five and a half years on site.

The boost to the economy, which saw a £4.5 million output for every year the site was open in the area, has played a key role in the regeneration of Castleford, which has seen many new businesses open in recent times.

In addition to this, Fellows Place has also directly supported a total of 489 jobs over the duration of its build. These jobs, which have provided employment opportunities within David Wilson Homes and its local subcontractors within the region, were comprised of 451 construction jobs at the site, along with a further 38 apprentice roles.

An additional 124 indirect and induced jobs were supported elsewhere in the economy for each of David Wilson Homes’ five and a half years on site, bringing the total amount of new employment opportunities in Castleford and the surrounding areas to 1,171.

Further boosts to the economy came as a result of ‘one off expenditure’, whereby new property owners spent a total of £1.5 million on the likes of furnishing and decorating their new homes, while an additional £5.7 million of expenditure in the local area continues to be generated by residents of the development each year.

Jacquie Speight, Ward Councillor for Altofts and Whitwood, commented: “It’s great to see the delivery of much needed local homes. House-building also brings additional benefits to the local economy through the creation of local jobs, new consumer spending, investment in schools and other community infrastructure.”

David Coe, Development Director at Barratt Homes Yorkshire West, commented: “Since we got a spade in the ground at Fellows Place, we have endeavoured to contribute positively to the local economy, which is reflected in these figures. The area has also benefited from David Wilson Homes’ Section 106 contributions to education services, public transport and public spaces in the local area. We’re thrilled to have seen the positive impact of Fellows Place and look forward to seeing the Castleford area continuing to develop long now that we’ve left the site.”

For more information David Wilson Homes please visit www.dwh.co.uk

This was posted in Bdaily's Members' News section by Richard Savage .