16. Economic Statement
What is it?
Policies EC1, EC2, EC3, EC5, EC6 and EC7 relate to proposals that have economic development impacts. Economic impacts of a proposal, such as investment, job creation and contribution to rates, are a material planning consideration relevant to the assessment of applications.
An Economic Statement sets out the economic impacts of new development on the area, whether specific to the neighbourhood in which the proposal would be located, city-wide, regional or international.
When is it required?
An Economic Statement should be submitted with all applications for Major development.
What should be included?
An Economic Statement should include:
- the level of economic investment;
- GDV impact on the local and, where relevant, regional economy;
- the number and type of jobs to be created both during the construction phase and on occupation, specifying whether the jobs are part time or full time;
- impact on rates;
- any commitments to employability and skills and inclusive growth (also see section 17, Employability and Skills Profile);
- whether the proposal is speculative or if there is a specific end user;
- the timeframe for delivery of the development;
- any wider benefits of the proposal to the economy.
Guidance
Further guidance is provided in Chapter 9 of the Council’s Developer Contributions Framework.
