Local Value Suppliers
Employment Skills, knowledge, and employment are fundamental to the successful delivery of activities and are central to the organisation’s growth and development. Thirty-six skilled North West people are employed by IN4 Group, with five living in Salford and a further 21 within Greater Manchester. A review of salaries and the corresponding home location provides a valuable insight into the potential local economic benefit. Adopting household expenditure profile data from ONS data and the principles of Local Multiplier. It is possible to forecast the retained economic benefit per area, this is the forecasted expenditure a person makes within the local economy in which they live. 45.2% of the retained economic benefit is centred on Salford, with a combined total of £684,840 being retained within 35 miles of Salford. Retained Economic Benefit Location Retained Economic Benefit Cumbria £12,480.00 Liverpool £16,640.00 Greater Manchester £63,440.00 Cheshire £88,400.00 Manchester £309,920.00 Lancashire £90,480.00 Salford £103,480.00 Total £684,840.00
An analysis of supplier expenditure demonstrates a wealth of engagement and value being generated and retained within Salford. 62% or £379,368 of expenditure within 2021 was spent within the postcode area of Salford and a further £93,275 within Greater Manchester and a total of £611,355 spent within England. When applied to a recognised economic multiplier of .0751, the expenditure can be converted into local economic value, creating an additional £231,987.00 to the Salford economy in total and £459,127.61 in total to the English economy.
Professional Development
A review of the training provided during 2021 commits to focusing on professional training and staff development. £17,317.36 (567 hours) of direct value is created through nine training events: CyberFirst Training, Lunch and Learn events, and first aid. This equates to a direct value of £444.03 per staff member.
Social and Local Value 2022 | 17
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