University of Cambridge: "Uplace will lead to 3.249 new jobs"
Renowned British University starts long term research project to assess the socio-economic and cultural impact of the Uplace project on the broader region
- Job creation of Uplace after opening is calculated on 3.249 new jobs, making Uplace one of the biggest employers in the region, after Brussels Airport
- 5.627 jobs will be created during the construction phase, direct and indirect
- Each year Uplace will deliver an annual tax backflow to the authorities of € 170 million euro
- Uplace and the University of Cambridge start a long term research project to assess the socio-economic and cultural impact on the broader region
1. Uplace becomes one of the biggest employers in the region
Uplace will lead to 3.249 new jobs after opening, making it one of the biggest employers in the region, after Brussels Airport. The University of Cambrigde came to this conclusion when calculating the socio-economic impact of Uplace on the reconversion area Vilvoorde-Machelen. The study was conducted as part of a long term research project of the renowned British university and Uplace. The mayor of Machelen, Jean-Pierre De Groef, is very satisfied with this news: "The 3.249 new jobs will be a blessing for the region Halle-Vilvoorde that now counts almost 19.000 unemployed citizens, an increase of 17% relative to 2011."
There will be a diverse mix of job openings for the grab due to the variety of activities offered at Uplace, from maintenance personnel to management functions: the offices at Uplace will attract start-ups and young entrepreneurs, the shopping- and leisure facilities will be looking for retail and food & beverage professionals and the hotel, concert hall and cinema will also create new jobs. For the maintenance of the buildings, squares, green roofs, … there will be a demand for technical personnel.
2. New jobs will be created
In the report, the University of Cambridge highlights that it concerns net job creation. Nick Mansley, Executive Director of the Cambridge Real Estate Research Centre: "Due to the population growth rate and the private consumption expenditure growth, there will be a substantial growth in the demand for retail- and leisure facilities in the surrounding cities and communities for the coming years, resulting in a real creation of new jobs."
Construction sector welcomes 5.627 jobs
During the two years’ construction phase Uplace will become an even bigger employer. A total of 5.627 people will be direct or indirect employed. Marc Dillen, Director-General of the Flemish Confederation of Construction is satisfied with these numbers: "The building sector encountered a loss of 17.000 jobs during the last three years. As a sector, we are really need investments that will result in new jobs. Especially in road construction, there was a big loss due to the decline of government projects. Private projects such as Uplace are a perfect alternative. A complex project like Uplace offers jobs for low and high educated people, from execution to more technical professionals such as planning and developing."
3. Investment and job creation result in important government tax income
The investment of developing Uplace, the exploitation and the creation of new jobs during construction phase and after opening, also mean extra tax income for the government. The University of Cambridge calculated the tax backflow to the authorities by the development of Uplace. In total, Uplace will invest €660 million euro in the development of the project; clean-up the soiled industrial grounds, building investment, background research, … The tax revenues from this investment phase is estimated at a one-off tax backflow of €223 million euro during the construction phase and an annual tax backflow to the authorities of €170 million euro during the operational phase (social security, value added tax, corporate income taxes, property taxes, municipal taxes, …).
4. University of Cambridge and Uplace starts long term research project to assess impact on the region
The University of Cambridge Real Estate Center specialises in research to environmental impact of real estate developments in the region. Starting from this field of expertise, the center assessed the impact of the reconversion project Uplace Machelen. The influence of Uplace, as a motor of the reconversion area, on a more socio-economic and cultural level will be research in a following phase. It is the intention that the research will continue also after the grand opening of Uplace.