Construction and operation will provide significant employment opportunities
North Wales Tidal Energy’s proposed tidal lagoon will provide significant employment opportunities in direct and indirect industries throughout the region.
Decades of service and support thereafter will support the long-term economy and employment in the region too.
Within the proposed lagoon, there will be game-changing opportunities for the development of safe and attractive activity tourism. New centres of activity such as aquaculture (fish and shellfish farming), sailing and windsurfing, canoeing and swimming can be established and provide jobs. So too, the providers of services to residents and tourists - cafe and hotel owners, restaurants and many others will benefit.
An effective integrated coastal protection scheme will impact property development in threatened areas along the coast: reducing the risk of flooding will significantly increase the availability and affordability of property and building insurance - liberating many communities from development blight and potentially facilitating substantially increased residential and industrial development.
Economic Impact Assessment
An initial Economic Impact Assessment (EIA) carried out by the North Wales Business School (NWBS) at Glyndwr University provided an indication of the benefits that could accrue from the construction and operation of NWTE’s initial design.
Of the various approaches for implementing EIA, NWBS selected simple input:output analysis (IOA) including the use of Type 1 and Type 2 multipliers to calculate the overall employment creation and economic impacts of the proposed project. (The Type 1 multiplier captures the direct and indirect effects of the project’s spend, while the Type 2 captures the broad effects of these plus the induced effects).
the project would generate at least 20,000 jobs
The EIA’s conclusions, based on NWTE’s initial cost projections for each phase (design and approval, construction and operation), showed that the project would generate at least 20,000 jobs.
Safe and attractive activity tourism can be created. New centres of activity such as aquaculture, sailing, windsurfing, canoeing and swimming can be established and provide jobs