Intu shopping centres contributed nearly £5 billion to the UK economy last year, providing up to one in 10 jobs in their local areas.
According to a new report from Lichfields, in which 14 key UK retail destinations were studied to determine the impact of stores on their local area, Intu grew its economic contribution by 16.6 per cent to £4.9 billion in 2016.
The total number of jobs Intu supported across the country also jumped 14 per cent last year, accounting for 137,000 jobs and a total wage bill of £1.9 billion.
This number is expected to rise further of the next decade, adding another 31,000 jobs and contributing another £1.95 billion to the economy through employment, regional investment and business rates paid.
“This research demonstrates that prime regional shopping centres are significantly boosting the UK‘s economy, both on a local and national level,” Intu chief executive David Fischel said.
“Creating retail and leisure destinations that customers want to visit helps businesses flourish across the country, drives up investment in towns and cities and establishes real local prosperity.
“The jobs they create cater for a wide range of skills and abilities and deliver more entry-level and flexible routes into employment.”