Understanding the links between economic development and flood risk investment

This project will undertake research on how flood risk management and water environment improvement projects can impact local/national economic growth.

It will develop a theory of change and methodology to include local and possibly national economic growth in Environment Agency business cases.

This project will collate evidence and produce methodologies to enable robust and consistent presentation of economic growth impacts from flood risk management and water environment improvement projects.

The intention is to include this in business case guidance for future capital projects.

The objectives are to: - Create a methodology to measure the impact of flood and coastal erosion risk and water environments on existing businesses. - Create and compile evidence on impact of flood risk management and water environment improvement projects on local growth and national growth. - Produce a proportionate, 2020 Green Book compliant methodology for use in project business cases to quantify and present local growth benefits and, if appropriate, national economic benefits.

This requires understanding of substitution, displacement and leakage.