Recent Release | 24 Jul 2022
The Economic Impact of Drax Group in the U.K., U.S. and Canada
Economic Consulting Team
Oxford Economics
Drax Group (Drax) is the global leader in the production, generation, and supply of renewable power from sustainably sourced biomass, and a pioneer in carbon removal technology. Its purpose is to enable a zero carbon, lower cost energy future.
Our new report, commissioned by Drax, evaluates the contribution of the company’s own global operations, the economic activity supported by its procurement spending and the impact of the wage payments to employees. Our analysis shows that Drax‘s operations in the U.K., U.S., and Canada generated £3.1 billion in GDP in 2021 and supported over 35,000 jobs across these three markets. We also find that the activity generated by Drax’s power stations, pellet plants, and corporate offices, is also having a positive impact on local communities across the U.K., the U.S. and Canada.
About the team
Our Economic Consulting team are world leaders in quantitative economic analysis, working with clients around the globe and across sectors to build models, forecast markets and evaluate interventions using state-of-the art techniques. Lead consultants on this project were:
Stephen Foreman
Associate Director, Economic Impact
James Bedford
Senior Economist, Economic Impact
You might be interested in
Global Trade Education: The role of private philanthropy
Global trade can amplify economic development and poverty alleviation. Capable leaders are required to put in place enabling conditions for trade, but currently these skills are underprovided in developing countries. For philanthropists, investing in trade leadership talent through graduate-level scholarships is an opportunity to make meaningful contributions that can multiply and sustain global economic development.
Find Out More
Mapping the Plastics Value Chain: A framework to understand the socio-economic impacts of a production cap on virgin plastics
The International Council of Chemical Associations (ICCA) commissioned Oxford Economics to undertake a research program to explore the socio-economic and environmental implications of policy interventions that could be used to reduce plastic pollution, with a focus on a global production cap on primary plastic polymers.
Find Out More
The Economic Contribution of Mexico’s Audiovisual Industry
This report demonstrates the integral role that the AV industry plays in Mexico's economy by estimating the industry’s domestic economic footprint. The analysis comprises all aspects of the audiovisual industry, including film production, distribution, and exhibition; the production, distribution, and broadcast of television content on free-to-air and pay TV channels; and online video platforms. Our estimates provide a recent snapshot of the audiovisual industry, including impacts at the broader industry level and broken out by sub-sector.
Find Out More
The socio-economic impact of TikTok in Australia
This report provides the results of our economic modelling of TikTok’s economic contribution to the Australian economy, as well as the findings of survey research into TikTok’s users and Australian businesses. It looks at the real world impacts users report as well as the diversity of TikTok’s online communities.
Find Out More