WSP’s economics team has supported Cornwall Council on submission of an outline business case for a comprehensive flood and coastal flood defence system (FDS) in the coastal town of Looe, south-east Cornwall. The economic study quantified the key characteristics and socio-economic profile of Looe, before examining the wider socio-economic benefits of securing the town’s long-term safety and security. This has entailed economic modelling and analysis into how an FDS would enable the town to regenerate and raise its socio-economic profile, with benefits to – among others – Looe’s employment and commercial base, visitor economy, and local population. Ultimately, the study highlights how an FDS would provide the basis for long-term, inclusive economic growth, enabling Looe’s economy to realise its full potential.

WSP’s economics team has undertaken a major socio-economic baseline study into four Business Improvement Districts (BIDs) in the City of London. The influential study has helped shape the investment priorities of stakeholders over the coming years, ultimately ensuring that the four BIDs and their partnerships are able to compete effectively with other locations across London for high value-added investment. The assignment involved detailed demand and supply side economic modelling, socio-economic profiling, and a review of key macroeconomic trends which will shape the opportunities and challenges for each BID area. These trends included, among others, an assessment of both the economic and societal impact of Covid-19, the UK’s departure from the European Union, and the drive to a net zero economy.

This multidisciplinary assignment for the West Midlands Combined Authority provided a detailed strategy and road map for the region to reach net zero carbon emissions by 2041. The study involved assessing all net zero and low carbon initiatives across the regional economy and quantifying their contribution to carbon reduction, as well as economic transformation. We identified gaps in activity and delivery and designed new initiatives for implementation. A major strand of the work has involved assessing the industry, labour market and skills implications of the net zero strategy and re-shaping delivery of education, skills development and organisational capacities across the region’s communities, businesses and public agencies.

Alongside our partners PA Consulting, WSP has acted as a key advisor to the UK Government’s Department for Levelling Up, Housing and Communities on the development and set-up of the UK freeports programme. Announced in early 2021, freeports seek to address embedded issues of sub-regional economic underperformance, while boosting the UK’s international trade and providing a platform for industrial innovation, especially in renewable and future energy systems. Our team has provided advice and analysis across a wide range of topics, including industry sector prioritisation, business case, economic impact assessment, implementing tax incentives and measuring tax benefits, as well as planning policy and complex site development. The work has required ongoing interaction with both national government and individual freeports.