Extending Nottingham’s tram system which serves Bulwell and Hucknall has boosted the region’s economy by more than £100 million according to a new report.
The Nottingham Business School study say the extension has helped create jobs, supply chain contracts and training opportunities.
It also predicts a range of longer0term benefits, including inward investment, the development of sites served by the network, a potential rise in land and property values and reduced congestion.
The Nottingham Express Transit tram system originally opened in 2004, linking Bulwell and Hucknall with Nottingham city centre.
It has recently been extended to serve Nottingham University, Queen’s Medical Centre, Clifton and Toton.
Councillor Nick McDonald, Nottingham City Council portfolio holder for business, growth and transport, said: “We’ve been clear that, as well as the obvious transport improvements the expanded tram network brings, there are wider economic benefits from its development.
“I’m pleased this report provides independent recognition and analysis of this and highlights the innovative ways in which we ensured local people gained employment, skills and training on the project.”
The document reveals the £570 million expansion scheme enabled construction and civil engineering employment in the area to stabilise and provided continuity in employment during the aftermath of recession.
Will Rossiter, head of the economic strategy research bureau at Nottingham Business School and one of the report authors, said: “There are real lessons that can be drawn from this project about how major transport infrastructure projects can be used to deliver wider benefits for the communities that they affect.”