News Release

£4,500,000 spending boost for Maidstone

Maidstone’s High Street regeneration project will stimulate extra spending in Maidstone totalling £4,500,000 a year and about 100 new jobs.

The figures are contained in an independent economic impact assessment by leading transport planning, planning, urban design and economics consultancy, Colin Buchanan and Partners.

The practice, founded by Sir Colin Buchanan in 1964, offers impartial and objective advice and excellent design solutions to a wide variety of clients.  Recently it received a joint special award for an outstanding work in design development for the redesign of Parliament Square, London W1.

The Maidstone report looks at the existing and improved pedestrian environments to calculate the likely increase in footfall, visitor expenditure, increases in rental and property value and employment.

In the conclusions to the report it states that the project will dramatically transform the pedestrian environment within Maidstone town centre and that the high quality granite paving will bring a new sense of unity to the High Street.

Cabinet Member for regeneration, Malcolm Greer, says: “The new public spaces will create key focal points within the town centre with feature lighting, soft landscaping, seating, and informal events spaces.  There will be more trees and three meeting spaces where people will be able to chat and enjoy the new surroundings.”

Director Paul Buchanan of Colin Buchanan and Partners said: “The report indicates that Maidstone should be well placed when the country recovers from economic recession.  Investment of this type generates significant returns.  The jobs it creates could bring into the local economy up to £1,000,000 a year in wages, in addition to the £4,500,000 a year from extra spending by visitors.

Date:
June 25, 2010

Ref:
RJA/100606