SCOTTISH Water creates £4.5 billion in value to Scotland’s economy and supports more than 21,000 jobs annually, a new report has revealed.
4-consulting, a multi-disciplinary consultancy, found that for every £1 invested by Scottish Water, £3 in value is generated for the Scottish economy, reflecting strong economic returns on infrastructure spending.
The report, by independent economists 4-consulting, found that for every £1 invested by Scottish Water, £3 in value is generated for the Scottish economy, reflecting strong economic returns on infrastructure spending.
Each direct job Scottish Water creates is said to support four jobs in Scotland – meaning water investment has a bigger multiplier effect on the Scottish economy than oil, gas and power sectors. Furthermore, almost 90% of Scottish Water’s direct supply chain spending is with companies operating in Scotland.
The report’s author, economist Richard Marsh, said, “There is no doubt the economic benefits of Scottish Water’s work reach well beyond simply supplying vital drinking and waste water services. As a major infrastructure investor its focus on creating dependable local jobs and supporting local businesses means it has a major impact on the Scottish economy.
“Scottish Water runs thousands of assets which generate significant positive impacts, and its diverse supply chain helps support a number of industries, notably construction, engineering and technology. Its work to design and deliver innovative engineering solutions is creating jobs not only in cities and towns but in more remote and rural communities, often in areas of the highest deprivation.”
Alex Plant, chief executive of Scottish Water, added, “This report shows that Scottish Water is not only investing in Scotland but for Scotland. As the country prepares for a massive increase in infrastructure investment across a number of industries, we are showing how this can be done in a way that delivers a social return on investment, creating real benefits for customers and communities across Scotland.”
Scottish Water continues to invest at record levels, with £1.09 billion spent delivering its capital investment programme in the last financial year.
To read the report, visit: https://www.scottishwater.co.uk/Help-and-Resources/Document-Hub/Key-Publications/Reports
