Braehead’s £335m boost to economy

Shopping centre intu Braehead contributed £334.9 million to the local economy last year, according to a new report.

A total of 8,226 local jobs were also supported by the Renfrew centre in 2016, representing 10 per cent of all jobs in the area.

intu owns many of the UK’s largest and most popular shopping centres and the research from planning consultants Lichfields measured the economic impact of each centre to reveal how much retail destinations and physical stores are worth to their local areas.

This takes into account employment, regional investment and business rates paid.

It found the total contribution by intu shopping centres grew by £700 million in 2016, from £4.2 billion in 2015.

The number of jobs they supported across the country increased by 14 per cent to more than 137,000, with a total wage bill of £1.9 billion.

intu’s development pipeline is expected to generate an additional 31,000 jobs and a further £1.95 billion for the economy over the next 10 years.

Peter Beagley, regional centre director with responsibility for intu Braehead, said:“Creating and managing retail and leisure destinations that customers want to visit helps businesses flourish across the country, drives up investment in towns and cities and establishes real local prosperity.”

Alexander Nicoll, corporate responsibility director at intu, added: “We invest millions in our centres and their local communities every year.

“This allows us to create long-lasting and positive change.”