Crossrail: building London, building BritainJuly 26, 2013
New figures published today by Crossrail reveals the stimulus a large infrastructure project in London has on jobs across the UK.
Figures shows that throughout its supply chain, the Crossrail project supported the equivalent of 13,800 full time jobs across the UK, with three out of five of these full time equivalent jobs outside London. Expenditure in the supply chain was estimated at £865m, of which £460m (53%) was spent outside London.
London First recently produced a report with PwC examining the economic impact of central London office construction. The report found that construction work in central London generates twice the economic benefits – and supports almost twice as many jobs – outside London as it does in the capital. A copy of the report can be found here.
In February 2013 London First published the findings of its Crossrail 2 task force, chaired by former Transport Secretary, Lord Adonis, recommending a major new rail link connecting south-west and north-east London, via a tunnel beneath central London. A copy of the report can be found here.
London First set up the London Business Network for the Games and within that “Compete For”. This website enabled smaller companies to bid for Olympic and Paralympic contracts. The system has been used by Crossrail and we urge all boroughs and major projects in London to use this system to stimulate small business activity.