18th August 2010

DORCHESTER: Poundbury�s �830 million legacy for local economy

by Paul Crompton

INCREASED housing, jobs and a £330million boost to the area’s economy is Poundbury’s legacy to date, as the pioneering development passed its half way stage a report has shown.

The legacy of the development could even see a further £500million brought into Dorchester’s sub-region economy through demand for goods and services by the time it is completed.

To date 930 new houses have been built with an estimated 1,535 dwellings set to be created, a percentage of which have been earmarked as affordable housing.

The Duchy of Cornwall commissioned report by Dorset County Council also showed Poundbury will be supporting 430 full time jobs and 121 new businesses before its completion in 2025.

The report highlights the ripple effect on the area as money flooded into Dorchester’s urban extension with the increase of households, businesses and tourists drawn to the principles on urban development expounded by the Prince of Wales.

Simon Conibear, Poundbury Development Manager said: “We have always been aware that Poundbury has been a major source of employment and economic activity, for Dorchester particularly, but it is interesting to have this quantified.

“The important thing is the legacy we leave, and it is encouraging that even after construction activity ceases in 15 years time, there will be a continuing major economic benefit to the Dorset sub-region.”

As the development continues to expand it is thought around £40million per annum will be generated - a net equivalent of about £20million per annum added to the local economy.

These figures could grow as development starts on Queen Mother Square and the final two phases of the development.

The report underlines the importance of the urban extension to Dorchester’s growth prospects over the next 15 years and was careful only to look at the net economic benefits of the project, eliminating figures which would have been supported elsewhere in the sub-region.

The report also showed the invaluable legacy following the developments completion as homes, facilities, infrastructure and businesses cannot be measured in an economic survey.

Anne Gray of DCC’s research and development team said: “The benefit of this report is it gives evidence, people can be critical of the development, but this means we have now got evidence it provides benefits for the local area.

“I think it’s really obvious its significant impact on the local area, particularly at the moment when we are coming out of a tough economic period, it shows the value of a long term project in the area.

“So by having a long lived project within Dorchester you provide housing and employment, both short term and long term, and also you have a lot of businesses relocating from the Dorset sub-region to find suitable premises.”

DORCHESTER: Poundbury�s �830 million legacy for local economy

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