Herefordshire County Council and local partners were keen to secure a new higher education institution in the area and to base it on a new model of learning. They required economic and financial advice to secure the upfront investment needed to establish this innovative new learning facility.
Regeneris was commissioned to establish the economic and financial cases for the New Model in Technology & Engineering (NMiTE) facility. This involved calculating the economic value of a boost to the supply of highly-employable engineers. Our team used in-house modelling expertise to articulate impacts and benefit-cost ratios and sector-based financial and policy experience to review of NMiTE’s financial base.
Our work contributed to a business case which demonstrated a compelling return for public sector investment, addresses engineering skill shortages and offers improved access to higher education in Herefordshire. The proposal was submitted to government for scrutiny as part of the 2016 Autumn Statement and was well-received by civil servants and ministers. More information on NMiTE can be found here.
We commissioned Regeneris to establish the economic impact of NMiTE with input on the financial case put to the DfE and HM Treasury.
Regeneris developed an economic model which quantified the benefits associated with NMiTE, as well as providing comments on the project’s financial assumptions. They subsequently produced the economic case as part of the Five Case submission to Government.
Regeneris were professional throughout and produced high quality outputs. They also offered a flexible and pragmatic approach, which was required given the nature of the commission and allowed us to make best use of their expertise.
The work was critical to the submission of an overall Business Case, needed to secure funding from Government. The project continues to progress and NMiTE is anticipating to open its doors to engineering students in the near future.
We would happily recommend Regeneris based on our experiences, the quality of their outputs and the impact these make.
Receive our latest thinking on economic and social impacts on people, places and economies.
GET IN TOUCH
