UKREIIF 2023 in Leeds generated £2.25m in social impact, says report

The three-day event saw more than 7,500 people descent on Leeds Dock to hear from more than 500 expert speakers across more than 20 stages.

Intended to connect people, places and businesses to accelerate and unlock sustainable, inclusive and transformational investment across the country, UKREiiF brought together the public sector alongside government, investors, funders, developers, housebuilders and more.

The forum’s operations – both in the lead up to and during the event – were closely analysed by social value economists at Loop, covering a range of social, environment and economic measurements to help the organisers demonstrate the true impact the event creates. The report has now been released, showing that the 2023 outing of UKREiiF generated £2,259,358 in social value.

Ethan Campbell, social value economist at Loop, said: “Where possible, the impacts in our analysis have been monetised with proxy values in order to demonstrate the scale of impact the event has had in more relatable terms.

"Our measurement framework is able to incorporate more than 800 different types of metrics – 90 per cent of which can be monetised – covering the five key areas of employment, training and skills, supply chain, community and charity, and environmental.

“Monetising social value is the process of attaching a proxy financial value to an outcome. That value does not show an actual financial return but represents the relative importance of that change to those impacted. The results speak for themselves when it comes to the significant impact UKREiiF has.

“Not only is the event bringing together the parties who will together make a difference to the future of the built environment and economy, it’s creating positive impact for the Leeds area and its communities now.”

Loop’s analysis uses the National Social Value Standard (SVS), which is a measurement framework designed specifically for the appraisal of social value.

The organisation created a similar report on the inaugural UKREiiF event in 2022, which showed social value generation of just above £1m.

Nathan Spencer, director at UKREiiF, said: “Since the outset of creating UKREiiF, we were clear that it was intended to be a platform for change. Its aim it to facilitate positive regeneration and development across the whole country, aligning with the government’s levelling up agenda – but crucially doing this in a way that maintains a focus on sustainability and generating positive impact for communities.”