I am writing in response to a letter published in the Pontefract and Castleford Express on Thursday 31 July regarding Five Towns Park.
Your correspondent has asked that Lateral Property Group be ‘compelled’ to provide details of how the estimate of around 2,000 (or 1,950 to be more precise) new jobs at Five Towns Park has been calculated.
Far from needing to be compelled, we have already commissioned a detailed report which considers the socio economic impacts of our development. That report, by an independent company Regeneris Consulting, was provided as part of the planning application and is available on the Council’s website (Planning Reference 14/01440/OUT).
Setting aside the circa 100 jobs associated with the stadium, this document suggests that the vast majority of the estimated remaining 1,850 retail and leisure jobs on the site could be taken by local people.
Indeed it is calculated that up to 75 per cent of the jobs could be taken by people within the district of Wakefield.
The Regeneris report also considers the economic impact of the construction period. It is estimated that during construction 1,100 jobs could be supported per annum for two years. Up to 60 per cent could be taken by residents in the Wakefield district.
And Lateral will work with local agencies to ensure that local people, especially from the Five Towns, really do benefit from the jobs created.
It is also important to note that unlike the figures which are often quoted, our estimates are allbased on full-time equivalent jobs, therefore the actual number of posts created on site will be higher.
There is a further element to the Regeneris report which makes interesting reading for the community. The wage income for the Five Towns area from our development is estimated at £13.7 million each year. Local people are currently spending large sums of money outside the area.
By keeping Five Towns spending local, our development would help to keep the Five Towns pound in the Five Towns area.
The analysis undertaken by Regeneris also identifies that as a result of this money now being spent locally, there will be other spin-off benefits to local businesses.
I would urge your readers to review our planning application to see for themselves what benefits it could bring to the area.
A new community stadium for Castleford Tigers is only one element.
Lateral Property Group