Economic Impact Report

We are thrilled to be able to share our first economic impact report for the Devonshire Group. This report highlights the impact of the Devonshire Group on the UK economy over the last three years. Our baseline year was 2019/20 before the impact of Covid-19 hit us in 2020/21. In 2019 we launched our Ten Goals for Ten Years to be ambitious targets to define the way forward for the Devonshire Group. One of those goals is to double the benefit to local economies from our activities. Our challenge was to come up with a rigorous way of measuring our economic impact. We sought advice from the University of Derby and agreed that the best way to achieve the objective that we had set was with a Knowledge Transfer Partnership – a three way partnership between the Devonshire Group, the University of Derby and Innovate UK.

Our economic impact both within and beyond our own boundaries as a result of our activities is significant (£224m in the financial year to 31 March 2022) with the largest impact being generated by the activities of our tenants, followed next by the operational activities of the group. This vital piece of work enables us to track and report our performance our goal of doubling the benefit to local economies from our activities, and it gives us a firm foundation on which to continue measuring and challenging ourselves to improve in the years ahead.