Economic sustainability for Crossrail was built on the ethos of contributing to a strong, stable economy that will help provide prosperity and opportunities for all. Our goal was to deliver a sustainable transport choice that would support economic growth in the UK and improve travel quality by easing congestion, shortening journey times and increasing London’s accessibility.
Helping the city grow
The Elizabeth line is part of the UK’s plan to help meet London’s growing population, which is expected to reach 10 million by 2030. It will increase central London’s rail capacity by 10 per cent, the largest single increase in the capital’s transport capacity in over 70 years.
The net economic benefit of the Elizabeth line is substantial. From the jobs created during construction and operation and time saved by improved transport connections to the enhanced accessibility the line brings to millions of people, the Crossrail project is estimated to generate at least £42 billion for the UK economy.
Plans are in place for 12 major developments above and around new Elizabeth line stations and Crossrail infrastructure sites. Together, the development plans cover more than three million square feet of office, retail and residential space spread across the capital between Paddington in the west and Woolwich in the east.
Developments are at different stages of completion. At Farringdon east, the development by Helical is complete and is now home to TikTok UK. At Liverpool Street, the development of One Liverpool Street for Aviva Investors is in the early stages.
In addition, independent forecasts show the project is unlocking or accelerating the supply of homes and commercial office and retail spaces.
Enhancing local communities
Crossrail is the first major infrastructure project in the UK to design the stations, surrounding areas and oversite development opportunities at the same time. This approach and wider master-planning was to help maximise regeneration along the route and create an excellent experience for the travelling public.
Passengers of the Elizabeth line will judge the success of the railway not just by a reliable and punctual train journey, or high-quality station design, but also by their experience of using the spaces outside the stations as they arrive and leave. No other railway project in this country has included a programme of urban realm improvements as extensive as Crossrail’s, which covers over 40 improved spaces outside stations, the equivalent of 19 Leicester Squares.
Crossrail, TfL and local authorities worked in partnership on the design and funding of the urban realm areas.
These improvements include:
- Clutter free public areas, wider pavements and new pedestrianised areas
- Additional traffic calming measures outside stations
- New trees planted, along with new seating areas and meeting places
- Transport interchange improvements including improved connections with buses, taxis, cycle parking, and walking routes with improved signage and wayfinding
These newly regenerated areas will benefit workers, residents and visitors for generations to come.
Benefits across the UK
Suppliers in every region of the UK have helped to deliver the Elizabeth line.
Crossrail actively encouraged procurement from all areas of the UK and 62% of the project’s suppliers were based outside of London. Early in the project, Crossrail held regional roadshows to attract a wide and diverse base of potential bidders for Crossrail work, and to ensure that businesses irrespective of size and location were aware of the opportunities. Working with small and medium sized enterprises was important to enable the best regional spread of benefits, and 62% of Tier 1 suppliers were small and medium sized enterprises.
Rolling stock from Derby, enamel signage from the Isle of Wight, vehicle movement PDAs from Edinburgh, steel from Cardiff and gantry cranes from Co. Down – learn more about our suppliers here.
Economic sustainability in numbers
- At least £42 billion estimated to be generated for the UK economy
- 55,000 jobs supported through the supply chain
- 96% of work awarded to businesses in the UK
- 62% of suppliers based outside London
- 62% of Tier 1 suppliers are small and medium-sized enterprises
- 72% of Tier 2 suppliers are small and medium sized enterprises
- 1.5 million additional people to access central London within 45 minutes when the railway fully opens
- 4.4 million square feet of high quality office, retail and residential space at 12 sites
- More than 1 million square feet of improved public space across 40 sites
- Delivery of 90,000 new homes along the route are predicted