Retail development: evaluating the social and economic benefits National Retail Planning Forum
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1 Retail development: evaluating the social and economic benefits National Retail Planning Forum 7 November 2012
2 Socio-Economic Impact Sustainable development is about positive growth making economic, environmental and social progress for this and future generations Rt Hon Greg Clark MP Minister for Planning Ministerial Forward, NPPF March 2012 The concept of a Carbon or Ecological Footprint is now well understood. What is less well understood, although immediately recognisable, are comparable impacts on social and economic issues.
3 Community Footprint... the impact you have by being there and how you choose to run your business
4 Context Policy-basis: Joining Up Planning, Economic Development & Neighbourhood Renewal Encourage investment to regenerate deprived areas, creating employment and an improved physical environment
5 Background Each Stage had it s own Strategy
6 Background Provide Competitive Offering Attract Additional Investment Increase Consumer Traffic Increase Disposable Income Increase Consumer Demand Increase local business sales Increase Security Increase Local Jobs Increase Local Spending
7 Background
8 Investment Framework What s its Purpose? Assess the positive and negative impacts of a past or proposed investment against the framework to determine its strengths and weaknesses in providing socio-economic benefits; Manage the ongoing socio-economic impacts of an investment Organise existing information from CSR, planning, and community investment Communicate wide range of impact in overview format Not a prescriptive reporting index; qualitative and quantitative
9 People Economy INVESTMENT BENEFIT Place Community Footprint Retail Investment Framework
10 Investment in People - Investment in The Individual (social mobility) - Investment in Key Stakeholder Groups (social capital & inclusion) - Investment in The Wider Community (community well being) Investment in Economy - Contribution to Local Economy - Investment in Employment - Investment in Enterprise Investment in Place - Investment in The Site (place making) - Investment in The Area (vitality) - Investment in Civic Pride (quality of life & identity) Investment Benefits
11 Investment Framework Case Study
12 Investment Framework Investment in the Individual Opportunity (skills & training, employability) Personal growth (education) Social well-being (health, culture) Investment in Stakeholders Engagement & consultation (development and ongoing) Social Inclusion (groups w/o traditional access) Strategic Partnerships (LA, local business, training) Investment in Community Cash, In Kind, Volunteering Issue areas People - The Individual (social mobility) - Key Stakeholder Groups (social capital & inclusion) - The Wider Community (community well being)
13
14 Investment Framework Investment in Local Economy Income/Expenditure Market share/leakage Linked shopping/footfall Local money circulation Indirect impacts Return to UK plc Investment in Jobs Number (net) Impact on local market Investment in Enterprise Local business (opportunities, displacement) Business development (supply chain, tenancy) Adjacent High Street (small shops, independents) Economy - Local Economy - Employment - Enterprise
15
16 Investment Framework Investment in the Site Physical regeneration Infrastructure, community facilities Alignment with local strategies Design (character, public realm, access and connectivity) Investment in the Area Mix of uses Diversity of choice Vacancies/churn Impact on town Investment in Civic Pride Opportunity to dwell Sense of place Civic pride & Image Place - The Site (place making) - The Area (vitality) - Civic Pride (quality of life & identity)
17 Investment Framework How is it used? Assess the positive and negative benefits of a past development that has already been built; Assess the positive and negative benefits of a proposed development, based on area context and past investor experience. Assess a proposed development proposal against the framework to determine its strengths and weaknesses in providing socio-economic benefits;
18 Investment Framework
19 Investment Framework Lessons from Case Studies Users Communications (retailers); Planning team (supermarket); Executive team (mid-size developer); Asset Development & Management teams (large developer), Community/CSR team (large developer) Existing business imperative to use (upcoming planning application, communication of benefits brief; existing asset analysis, potential extension, framework for asset management) Benefits of engaging local authority Transparency: Good and Bad Balance of information detail, resources (both time and ) and use of proxies
20 Socio-economic Impact
21 What s Next What would most help the industry have more informed discussions about socioeconomic impact? Series of workshops in 2013 to set a research agenda of what s most useful? Collaboration with practitioners and academics
22 Next Steps - Guidance
23 Investment Framework Case Study
24 Transforming business transforming communities
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