20,000 jobs a year during the construction period could be created and 20,000 or more jobs on a permanent basis from increased economic activity.
With the focus being on Morecambe Bay and the Duddon, North West Energy Squared estimates that 10,000 above averagely paid jobs will be created during the construction period, covering a wide range of activities from basic construction to engineering.
It should be noted that these jobs will be created in an area with higher than UK average levels of unemployment and lower than average household income.
The numbers would to some extent depend on the speed with which the project is attacked, but it will be appreciated that there are four or five entry points in Lancashire and Cumbria, and much of the engineering work will be carried out away from the immediate area, in the North East, East Lancashire and Yorkshire.
From a monetary point of view the reductions in welfare costs and increased tax revenues with an assumed multiplier impact of two could well produce for the Exchequer a net increase in revenue over £700 million a year.
In addition there would be 100 permanent onsite operational jobs plus potentially 3,000 jobs on a permanent basis arising from increased economic activity, and approximately 1,200 jobs arising from increased tourism.