Scarborough’s economy is set to rocket to boom town levels if plans to build a multi-billion pound potash mine in the region get the go-ahead.
Excitement is growing as the project to build a mine between Scarborough and Whitby gathers pace ahead of an expected planning application submission at the end of the year.
Jim Dillon, chief executive of Scarborough Council, said: “We will be the envy of every borough in the country.
“I am fairly confident that the initial projection of 5,000 jobs is likely to be a reality.
“We have done our own research which shows that over three to five years there will be 4,000 construction jobs alone. That is absolutely massive.
“It opens up a whole list of things that will be able to transform the look of the place and the facilities for people, whether they are visitors or residents.”
A community fund, linked directly to the mine, will plough 0.5 per cent of revenue annually into local projects, it has been revealed. And with that figure set to stand at £9 million a year when the mine is in full production, the realisation of the billions of pounds the mine will be turning over under owners York Potash is causing a stir in the town.
As well as the cash injection the local economy will also benefit from around 5,000 jobs, including 1,200 employed directly at the mine. Chris Fraser, managing director of Sirius Minerals, which owns York Potash, said: “The project has the ability to be transformational for the local economy and will represent an unrivalled level of investment for the borough.
“It will create jobs, help improve skills and contribute to people’s prosperity for generations to come.”