Retail park in Exeter may boost the economy

April 5, 2018 by  

The east of Exeter could gain from the development of a proposed retail park.

A recent report suggested that the potential retail park would attract investment and create local jobs. Unemployment is perceived as a problem in parts of Exeter. The city might gain 680 posts if the initiative obtains the green light. Print shops within Exeter may benefit if business growth gathers pace.

Martin Ridgway, a managing director for the CPG Group, told Devon Live:

“This scheme, if approved, will be a very significant boost for East of Exeter. The city’s unemployment currently stands at 2,800, 88 per cent of whom live within five kilometres of the site with the youth unemployment rate standing at 16.6 per cent.”

He explained that the retail sector is traditionally effective at producing jobs for young workers. Across the country, just over a quarter of retail posts are filled by young employees.

The report has estimated the local impact of getting the retail park completed. Its workers may add to local expenditure by £9 million in total. On an annual basis, the shops could have the capacity to boost business rate collection by £1.1 million.

In the past, planners from Exeter have seemed somewhat slow to grasp the potential of the scheme. The worry has been that the retail outlets would have the power to disrupt the dynamic economy of the core city.