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
Potential consequences of the NLRB joint employer rule
The International Franchise Association (IFA) commissioned Oxford Economics to assess the potential impacts of the National Labor Relations Board (NLRB)’s proposed revisions to the joint employer rule on franchising. Oxford Economics found that potential consequences include increased business model uncertainty, increased costs, and decreased access to small business ownership through franchising.
Find Out More
Sustainability Voices: Businesses should think small to act big on greenhouse gas emissions
Luke Pate, Economist at Oxford Economics, discusses how SMEs and large businesses tackle reducing greenhouse gas (GHG) emissions.
Find Out More
Independent: UK private investment ‘needs to rise by two-thirds to reach net zero by 2050’
Oxford Economic researchers have forecast how different scenarios for reaching net zero will benefit or negatively impact the economy in the long term.
Find Out More
Cresting the wave: businesses must navigate a course towards sustainability
Amid intensifying pressure from consumers, employees, regulators, and investors, businesses are steadily progressing from the early stages of sustainability target-setting to the complex and expensive work of implementation.
Find Out More