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Home Europa Press

The Visocan Housing Plan has the capacity to generate more than 25,000 jobs in three years in the Canary Islands

January 28, 2023
in Europa Press
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The Visocan Housing Plan has the capacity to generate more than 25,000 jobs in three years in the Canary Islands
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SANTA CRUZ DE TENERIFE, 27 Jan. (EUROPA PRESS) –

The public company Visocan reports this Friday that the 2020-23 Housing Plan, which will allow the rehabilitation of some 5,700 homes out of the more than 6,000 public homes that make up the park, together with the construction of new buildings, has the capacity to create 25,816 jobs. direct, indirect and induced work.

Between 2021 and 2022 alone, rehabilitation and repair actions have been carried out in 3,178 homes, which represents more than half of the public company’s housing stock, in an action in which more than 5.7 million euros have already been invested. euros.

In general, the number of jobs generated for each rehabilitated dwelling amounts to 0.19.

The 2020-2023 Plan provides for the rehabilitation of 5,700 properties, which would allow the generation of 1,083 direct jobs in these tasks, which would mean that, for every million euros invested, 36 jobs are generated in the rehabilitation line.

Added to these actions is the construction of new properties and the completion of unfinished developments.

According to the VAb (Gross Value Added), it is estimated that every million euros of investment in the construction sector generates 19.22 direct jobs on average in the Canary Islands, the company details in a note.

If it is taken into account that the budget allocated to the Visocan Plan during the period 2020-2023 amounts to 461 million euros –including the 107 million of private investment–, with this action 9,365 direct jobs will be created.

The induced employment generated by the plan should be added to the previous calculation, due to the increase in demand that will be produced by the increase in wealth and capital.

Thus, taking as a reference the data from the State Housing and Rehabilitation Plan 2009-2012, which estimates that for every million euros of investment, more than 56 jobs are created in total (between direct, indirect and induced), the investment of 461 million euros would generate a total of 25,816 jobs, of which 9,365 would be direct, 14,047 indirect and 2,404 induced jobs.



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