NnG is a £2bn capital project that will have a major positive impact on jobs and the economy as a whole. A study, carried out by the Fraser of Allander Institute at the University of Strathclyde in August 2017, has estimated that over the lifetime of the project it will generate an economic impact equivalent to 0.6% of Scotland’s Gross Domestic Product (GDP).
NnG is one of Scotland’s next major infrastructure projects.
Further findings of the study are:
- Some £382m of additional activity will be generated in Scotland’s construction industries, with a further £440m in the services sector.
- 13,900 person years of employment will be supported by NnG over the course of its lifetime.
- 8,000 person years during its four-year construction phase.
- 5,900 person years during its 25-year operational phase.
The project will have a major role in carbon emissions abatement and play a key part in meeting the emission reduction targets of both the Scottish and UK governments. It will displace some 450,000 tonnes of CO2 every year and provide enough power for a city the size of Edinburgh.
If the UK fails to decarbonise its power sector it will not meet the statutory climate reduction goals in the Climate Change Act, and will not meet its other global commitments to greenhouse gas emissions reduction. NnG is an integral part of that decarbonisation strategy. There are no other comparable projects at NnG’s state of readiness.