Housebuilder brings £24m investment to local area

Five star housebuilder Barratt Developments, which has a number of new developments in Plymouth, has built 520 homes in the south west during the past year and brought around £24 million to communities where it is constructing new developments.

The figures form part of the company’s socio-economic footprint, and reveal just how the local economy has benefitted from the new housing.

The Exeter-based division - which also includes David Wilson Homes - has made more than £15 million in contributions to councils, as well as for infrastructure and affordable housing for local people. And it says the local economy has benefited from an additional £8 million of additional spending in shops and services from the residents of its new homes across the region. This spending alone supports more than 80 retail and service-related jobs.

Paul Moran, managing director of Barratt Developments’ Exeter division said: “It is well-known that Barratt creates and supports a significant number of jobs in areas where we are creating new homes. But we also bring additional investment to the communities surrounding our developments - as well as an extra boost to local economies.

“We feel it is particularly important to make our mark in a very positive way - leaving a lasting legacy within the new communities we are helping to create. And we do this in a number of ways - from job creation and introducing new facilities to the area, to protecting the environment. It is with great pride that we are bringing extra growth to the region, and we will be looking to continue our efforts throughout the coming year.”

Included within the company’s socio-economic footprint are key figures relating to the company’s support for the housebuilding supply chain, local communities, environment, public services and employment. The report also showed Barratt Developments:

• Supported 1,500 jobs directly and through its contractors and suppliers
• Directly employed seven new graduates, trainees and apprentices
• 90% of components used in the construction process were manufactured in the UK
• Planted or retained 24,870 trees or shrubs on its developments
• 17.6 hectares of green space created though public open space and private gardens
• Generated £12.1m in tax to support public services

The report on Barratt’s Socio-Economic Footprint in 2017 was carried out by planning consultant, Nathaniel Lichfield & Partners (NLP).