Aster’s Local Economic Impact. Economic Impact Employer Landlord Developer Provider of services A business.

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Presentation transcript:

Aster’s Local Economic Impact

Economic Impact Employer Landlord Developer Provider of services A business

Employer 1200 employees Over 20 trainees and apprentices Payroll of £32.5m Take home pay £20m

Landlord Aster rents c15,000 properties on social rents 50% on Housing Benefit average rent £40 below market level (30% full, 20% part) If housing provided in private rented sector housing benefit bill at least £12m pa higher

Developer Development Programme 500 homes per annum –Each home creates 1.5 jobs (HBF) Aster Programme supports 750 jobs Each home increases council tax and new homes bonus income for local authorities

Services (1) Benefit advice increased resident income by over £800k £130k voluntary sector grants Actively promote credit unions & re-use projects Run one re-use project, opening second Housemark social impact tool, currently only on ‘social’ activities

Services (2) Home care & extra care both been demonstrated to reduce hospital bed use’ reducing cost pressures on local NHS Trusts Social Enterprise Development service to –develop new services, –assist existing –support customers set up local businesses

Business Tax contribution –Employers NI - £2.5m –Employees NI & PAYE - £5m –VAT and other £1m

Procurement Total annual value - £60m No impact yet of 2012 Social Value Act (will be enacted in 2013) Operate within 2006 regulations - consolidated and offered through EU procedure, Understanding that HCA meaning of VFM is low cost Seek to support local SMEs in bidding skills, provision of policies etc Over 200 local suppliers on approved lists

Conclusions We pay more tax to Government than they pay to us in subsidy Provide and support significant number of jobs Nervousness around procurement/VFM Limited data to drive local economic performance Desire to do more