A newlyreleased report undertaken by Oxford Brookes Business School on behalf of Blenheim has revealed that Blenheim is contributing more than £100m annually to the economy.
The figure is a major milestone for the Oxfordshire UNESCO World Heritage Site and represents a 15% increase compared to the previous year.
According to the report Blenheim’s total GVA (Gross Value Added) economic impact was £100.5m. The estate also supported 2,159 jobs, a 12% annual rise.
Commenting on the new report Blenheim CEO Dominic Hare said: “I am delighted our GVA total economic impact did indeed surge in year two by 15% to £100.5 million, with jobs supported rising by 12% to 2,159. This is an outstanding achievement, given that we have only recently embarked on this journey.”
In total, the impact of visitors’ spending outside of Blenheim rose to over £47m, up 14% in the year and over 22% from the start position.
People directly employed by Blenheim also rose 17% to 391 and its direct economic contribution to the local community was £13.8m an increase of 5% on 2017/18.
The estate is now sourcing 44% of all its supplies from within a 20mile radius and is looking at ways to further increase this figure in the coming months and years.
This is the third report undertaken by Oxford Brookes Business School as part of a 10year plan of action by Blenheim to achieve 10 ambitious targets.
These include tripling the Estate’s contribution to the local economy, housing 300 families in high quality affordable housing, completing a £40m restoration programme and becoming a net generator of green energy within a decade.
The plan also includes the training of 100 apprentices, returning key historical artefacts which have been lost from the old collection over generations and a doubling of Blenheim’s total charitable contribution the local community – a goal which has already been achieved just three years in.
“I’m delighted to report that our charitable contributions have not just hit their target of £2.2million, but indeed hit £3.5million in the year,” said Dominic.
“This was in part due to a one-off donation for the Starlight Foundation following Lord Blandford’s heroic charity row across the Atlantic but, even without this, we hit our intended target and plan to set out a more challenging goal in future,” he added.
Property development is a key element to Blenheim’s 10-year plan. Together with its partners, Blenheim invested just over £9m (+75%) in building new houses in several local developments during 2018/19.
For more information visit www.blenheimestate.com