The practice of lightweighting introduces a range of new lightweight, high-strength metal and non-metal materials (such as carbon fibre), which then require new manufacturing technologies (ie pressing, forming, machining and joining) and engineering and design skills. The potential cost and weight reductions are clearly a key motivator for many firms to explore the potential of lightweighting. The overall project represents a total investment of £68.4m, with a proposed Sheffield City Region investment of £25m from devolution deal funding.
The net direct, indirect and wider economic impacts were assessed and expressed in terms of employment growth (jobs created and maintained) and GVA. The direct and indirect construction impacts of the facilities were also calculated. The wider benefits identified included infrastructural benefits (including land remediated/developed or new floor space), productivity and supply-chain impacts, environmental benefits, skills, inward investment and Enterprise Zone benefits as a result of the improved attractiveness of the area, R&D and technology benefits.
“We identified 1,232 net new jobs in the SCR comprised of 812 operational net jobs and 429 net construction jobs as well as an NPV of £288m (GVA) in the SCR comprised of: £170m operational benefits, £16m from construction and a £101m productivity uplift ”
~ Karl Dalgleish, Impact Assessment Lead, 2016