UK shopping centres like intu Trafford Centre, intu Lakeside and intu Watford helped owner intu contribute £4.9 billion to their local economies in 2016 according to its latest ‘Contributing’ report.
Research from planning consultants Lichfields measured the economic impact of 14 leading retail destinations to reveal how much shopping centres and physical stores are worth to their local areas as a result of employment, regional investment and business rates paid.
Overall, the 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% to more than 137,000, with a total wage bill of £1.9 billion.
intu owns many of the UK’s largest and most popular shopping centres and they were found by the study to be among the biggest employers in their regions, providing as many as one in 10 local jobs in some areas.
David Fischel, intu chief executive, said: “This research demonstrates that prime regional shopping centres are significantly boosting the UK’s economy, both on a local and national level. Creating 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. The jobs they create cater for a wide range of skills and abilities and deliver more entry-level and flexible routes into employment.”
Top five intu centres by contribution to UK economy in 2016:
| intu centre | 2016 economic contribution |
| intu Trafford Centre | £488.9 million |
| intu Watford | £417.4 million |
| intu Merry Hill | £399.3 million |
| intu Braehead | £334.9 million |
| intu Lakeside | £322.8 million |
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. It will extend intu Lakeside in Essex by 175,000 sq ft and transform UK towns and cities including Watford, Milton Keynes and Nottingham by creating new retail and leisure facilities.
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 by delivering skills, employment and health and wellbeing.”