IED Annual Awards 2018: AECOM wins Greatest Economic Impact award
AECOM has picked up the Greatest Economic Impact award from the Institute of Economic Development (IED), the UK’s leading independent professional body representing economic development and regeneration practitioners, for its Crossrail 2 Development Impact Model.
The consultancy’s economic development team was commissioned by Transport for London (TfL) to support the development of the Crossrail 2 business case, which has been submitted to the Secretary of State for Transport providing a strong strategic, financial and economic case for the project. A key element of the ‘case’ for the project was to demonstrate the development impacts enabled by the scheme.
Since 2015, AECOM has provided extensive economic, planning, master planning and urban design services to demonstrate how the Crossrail 2 scheme could unlock housing and employment development opportunities across Greater London and its surrounding areas, and enable the delivery of 200,000 additional homes and jobs. AECOM produced a comprehensive development impact model to assess the potential development and economic impacts of the scheme across 2,400 sites.
Dave Widger, AECOM Regional Director for Economic Development who leads on the company’s Crossrail 2 work, said: “The Crossrail 2 Development Impact Model furthers our understanding of how a large transport scheme could generate new housing and employment impacts. The model’s success is how accessibility and capacity improvements influence demand and how this manifests itself spatially, and through the application of its innovative approaches. Two particular innovative approaches were central to the model’s success. Firstly, recognising that development opportunities vary by location and by property markets, and capturing their scale and timing. Secondly, assessing the potential impact of policy change. It is absolutely fantastic to receive recognition for our work from the IED.”
IED Chair Bev Hurley said: “We would like to congratulate AECOM on winning our Greatest Economic Impact award for 2018. AECOM has developed a large-scale economic model to test a very large number of economic output variables against a number of potential Crossrail 2 route scenarios and make the case for how Crossrail 2 can support future development. Our judging panel was particularly impressed by the scale and detail of the work undertaken by AECOM in making the case to government.”
AECOM’s success was announced at the IED Annual Awards 2018, staged as part of the IED Annual Conference in London, on 6th December.
Contact: Phil Smith, Institute of Economic Development PR consultant, 01778 218180 / 07866 436159 / firstname.lastname@example.org.
Notes to editors:
The Institute of Economic Development (IED) is the UK’s leading independent professional body representing economic development and regeneration practitioners. Established over 30 years ago, the IED's key objective is to represent the interests of economic development practitioners and ensure their views are widely expressed and noted. The IED is committed to demonstrating the value of economic development work for local and regional communities; the pursuit of best practice in economic development and the attainment of the highest standards of professional conduct and competence.