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Aster’s Local Economic Impact

Aster’s Local Economic Impact. Economic Impact. Employer Landlord Developer Provider of services A business. Employer. 1200 employees Over 20 trainees and apprentices Payroll of £32.5m Take home pay £20m. Landlord. Aster rents c15,000 properties on social rents

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Aster’s Local Economic Impact

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  1. Aster’s Local Economic Impact

  2. Economic Impact • Employer • Landlord • Developer • Provider of services • A business

  3. Employer • 1200 employees • Over 20 trainees and apprentices • Payroll of £32.5m • Take home pay £20m

  4. Landlord • Aster rents c15,000 properties on social rents • 50% on Housing Benefit average rent £40 below market level (30% full, 20% part) • If housing provided in private rented sector housing benefit bill at least £12m pa higher

  5. Developer • Development Programme • 500 homes per annum • Each home creates 1.5 jobs (HBF) • Aster Programme supports 750 jobs • Each home increases council tax and new homes bonus income for local authorities

  6. Services (1) • Benefit advice increased resident income by over £800k • £130k voluntary sector grants • Actively promote credit unions & re-use projects • Run one re-use project, opening second • Housemark social impact tool, currently only on ‘social’ activities

  7. Services (2) • Home care & extra care both been demonstrated to reduce hospital bed use’ reducing cost pressures on local NHS Trusts • Social Enterprise Development service to • develop new services, • assist existing • support customers set up local businesses

  8. Business • Tax contribution • Employers NI - £2.5m • Employees NI & PAYE - £5m • VAT and other £1m

  9. Procurement • Total annual value - £60m • No impact yet of 2012 Social Value Act (will be enacted in 2013) • Operate within 2006 regulations - consolidated and offered through EU procedure, Understanding that HCA meaning of VFM is low cost • Seek to support local SMEs in bidding skills, provision of policies etc • Over 200 local suppliers on approved lists

  10. Conclusions • We pay more tax to Government than they pay to us in subsidy • Provide and support significant number of jobs • Nervousness around procurement/VFM • Limited data to drive local economic performance • Desire to do more

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