PBA awarded ‘Most Sustainable Outcome’ by the Institute of Economic Development

PBA awarded ‘Most Sustainable Outcome’ by the Institute of Economic Development

28 November 2017

LONDON – PBA has been presented with the ‘Most Sustainable Outcome’ award at the Institute of Economic Development (IED) 2017 awards.

The award was in recognition of PBA’s innovative project to develop, implement and manage a framework to establish the economic and social effects of investment in Scotland’s canal network and the areas it passes through.

Having been commissioned by what is now Scottish Canals to create the framework, the PBA team continues to monitor canal corridor economic and development activity on an annual basis. Reporting has been designed to show the social and economic impacts achieved and forecast through unlocking the economic development potential of Scotland’s canal corridors.

PBA picked up their prize at the IED Annual Awards 2017, held during the IED Annual Conference in London on 23rd November.

PBA Equity Director Nick Skelton commented:

“We are absolutely thrilled to be recognised by the IED for our long-standing commitment to this project – it’s a fantastic achievement. At the time of our commission in 2003, Scotland’s Lowland canal network had been restored through a £78 million Millennium Commission award and a framework needed to be established to show how its economic development targets – including creation of over 4,000 jobs – were being delivered.

“It was also recognised that such a framework would be needed to help the development of Scotland’s canals as a tourism resource, as blue-green connecting infrastructure connecting communities, and in providing waterside regeneration opportunities often in disadvantaged communities. Local authorities, economic development agencies and others required evidence that canal investment was demonstrably meeting such wider objectives to enable the canal network to access related funding. We can point to many different indicators of impact on the back of it.”

IED Chair Bev Hurley said:

“PBA are worthy winners of our ‘Most Sustainable Outcome’ award. Their entry demonstrated a comprehensive example of planning, implementing, forecasting and reporting in an area of economic and social value and as such is an exemplar for sustainability projects in the future. What is particularly interesting is that whilst the findings feed into Scottish Canals Annual Report, it also provides the organisation with the data necessary to demonstrate performance against Scottish Government and other funding objectives, while also providing a valuable tool for effective planning and allocation of the resources it has to support economic development.”