HS2 has been a hugely divisive subject for a number of years and has formed the basis of, almost endless, political debate.
However, much like past impending recessions, investment in government infrastructure projects can help plug the hole in a faltering economy.
As of September HS2 has moved into the formal construction phase. Having read around some of the employment figures this colossal project will create over the coming 20 years, not only through direct labour, but via the complete supply chain, the figures make for some highly impactful reading. To summarise:
- To date, investment has already supported 9,000 jobs
- Over the course of the 20 year project lifecycle, HS2 anticipates 30,000 roles will be created, to include 2,000 apprenticeships
- This new phase will create and support 22,000 workers and a further 400,000 throughout the supply chain (clearly great news for those struggling within the built environment, to include building material manufacturers, consultants and tier two contractors)
- 10,000 roles alone will be created by the tier one partners in London to HS2. This includes joint venture partnerships Mace Dragados and Align JV
- Aside from London, the joint venture between Balfour Beatty and Vinci, BBV JV, is set to create 7,000 new roles in the West Midlands, making them one of the biggest recruiters in the region
Some of these numbers are big but, importantly, many will be sustainable, long term opportunities. Great news for the industry.
Understandably, the debate of why the investment will rumble on, with many arguing the money would be better utilised upgrading existing routes, but the above is just the news our industry needs right now.
Work on HS2 has officially started - as the controversial high-speed rail project begins with a "shovel in the ground" moment. The rail scheme, which will go through Birmingham and the West Midlands, has formally begun today (Friday September 4).