Pumping £2.5 billion into the local economy
Recent analysis by Ulster University Business School indicates that NI Water is benefiting the local economy to the tune of £440 million per year.
Over a six year period to 2021, it is estimated that NI Water will add a staggering £2.5 billion to the local economy, positioning NI Water as a major contributor to Northern Ireland’s Gross Value Added (GVA).
The Ulster University Business School estimates that for every £1 invested by NI Water, the knock-on effect in the local economy is almost double. Dr Mark Bailey, Senior Lecturer in economics within Ulster University Business School, who undertook the analysis, explains:
“All expenditure by organisations (be it on capital projects, day to day operations or staff) produces a “local economic multiplier effect” – which is the creation of local employment opportunities and the retaining of investment within the local and regional economy. In the case of NI Water investment, the ripples don’t just reach their own employees and suppliers. They are felt by a wide range of other businesses from agri-food production, to new house construction, to tourism development.”
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