Winston Economics.
High quality research
Developers, planners, and EIA/ES project managers
The importance of a socio-economic chapter with an economic impact assessment at an appropriate level of detail cannot be underestimated in these times of uncertainty. Expectations of planning authorities about economic impact assessments within EIA/ES or planning application documents have been rising for some time. This is partly driven by increased public involvement and scrutiny and need for accountability and partly by growing awareness amongst planning practitioners.
Socio-economic chapters of EIA/ES
We undertake bespoke socio-economic analysis and economic impact assessment for each project or development. Winston Economics team has experience of working in many sectors and dealing with nationally significant infrastructure projects (including overhead transmission lines), commercial, residential, cultural and entertainment, tourism, and education projects.
Each study methodology is developed taking into account unique features and circumstances of a project and unique economic conditions and natural environment in surrounding local communities. We usually use a blend of quantitative and qualitative techniques.
We can prepare standalone economic impact assessment reports that do not follow the specific EIA/ES approach to analysing the significance of impacts. This can be appropriate in situations when a lot of public scrutiny is expected or for other business purposes.
Economic impact assessments are also useful for publicly funded projects and for Masterplans where a consideration of several options is required to arrive at a preferred option that delivers most benefits at least social and environmental costs.
We assess all project or business impacts: direct impacts, indirect impacts, induced impacts, and wider (catalytic) impacts in other sectors of the economy.
Masterplans
Socio-economic analysis is what underpins any good Masterplan helping shape the ideas of the design team to be responsive to local economic conditions and main business assets, as well as social factors. We can also provide economic appraisal (impact assessment) of masterplan options to help arrive at an option that delivers most benefits for the local community. The team can develop a masterplan delivery framework / plan identifying financial resources and vehicles for its implementation.
WE. Viability Assessments help developers to arrive at the most efficient proportion of affordable housing on their site or sites. Our reports enable comprehensive understanding of a development's profitability depending on a range of scenarios.
Viability Assessments respond to specific requirements of developers or planning consultants providing an independent verification of each site's viability.
Other economics research
Large scale developments are dependent on local spatial planning policies, which sometimes may be outdated or controversial. In this cases we can assist developers with economics research of employment and housing markets with statistical analysis, forecasting and qualitative research to support their projects, masterplanning process, and planning applications or appeals.