The following message was received by the Comunity Council from the estate on 3 May, 2024:

 

As part of our ongoing effort to provide information about the Taymouth Estate and what it means to the local community, I am writing to share data from a recently completed economic impact analysis.

Considering the total number of people employed within the local ‘Highland’ ward has decreased by more than 5% since 2016, I am sure you will agree that understanding the impact of the development on jobs, taxes, investment and the economy in the region generally is particularly important.

To conduct this study, we engaged Ekos, Ltd, a respected consultancy firm specializing in economic and social research.  Ekos conducted an analysis based on project specific information provided by the Estate and data from a variety of independent, authoritative and official sources. The study adhered to HM Treasury Green Book best practise guidance for economic appraisal, and the methodology and all projections were performed solely at the discretion of Ekos.

 Among the report’s conclusions:

·  Overall economic impact:  Over 25 years, the Estate is estimated to contribute £390 million gross value added to the Perth and Kinross economy, including £210 million in local wages. The study projects that Taymouth Castle Estate will contribute to an uplift of at least 6% in the number of local jobs within the Highland Ward of Perth and Kinross.  

• Construction jobs and wages:  The project is projected to create 2,620 construction jobs in the region, including £70 million in associated wages and £160 million in GVA.
• Ongoing jobs and wages:  Apart from construction, ongoing operations of the Estate are likely to create an additional 200 jobs and £8 million in annual wages for employees in Perth and Kinross.
• Spending at local businesses.  Spending at restaurants, shops, and other local businesses by those living or staying at the Estate will create 55 jobs in Perth and Kinross and £1.0 million in annual wages.
• Investments in homes by residents: Residents of the Estate are projected to spend £420 million constructing, outfitting, and furnishing their homes.
• Tax receipts:  Over a 25-year period, the Estate is projected to generate £55 million in income tax and national insurance receipts, and £11 million in council tax.

 Among other impacts, the study also highlights a potential benefit to primary education in Perth and Kinross.  Authors of the study note that some workers who move to the area are likely to have children who will enrol in the local schools. This could help address the challenges associated with falling school rolls in the region over the past several years.  

 While important, the economic activity generated by the Estate does not tell the entire story.  Maintaining and enhancing the quality of life in the region also requires a commitment to preserving and protecting the environment, honouring the Scottish tradition of open access, and contributing to the wellbeing of the community in other ways.   We remain equally committed to having a positive impact in these areas, as well.

 As always, thank you for your interest in this project and what it means to the region.  We look forward to continuing our dialogue and providing additional updates in the future.

To access the full report, including sources and methodology, please click here.

Sincerely

DAVID O'DONOGHUE | GENERAL MANAGER