A new economic impact assessment predicts significant long-term financial benefits from the UK’s prototype fusion energy power plant, STEP, set to be built in West Burton, Nottinghamshire. The project, led by UK Industrial Fusion Solutions Ltd (UKIFS), part of the UK Atomic Energy Authority (UKAEA), is expected to be operational by 2040 and drive economic growth through job creation and investment.
The report forecasts that the construction phase will generate over 1,000 jobs annually in Nottinghamshire, adding £86 million annually to the local economy. Once operational, the facility is expected to create 2,760 jobs annually, contributing £210 million per year. Across the East Midlands, the total impact is estimated at nearly 3,000 construction jobs and over 6,400 operational roles, boosting the regional economy by £725 million annually.
The project also includes plans for a skills centre and business park, further supporting economic growth. Local councils, including Nottinghamshire County Council and Bassetlaw District Council, partnered with UKIFS to commission the study, which Amion Consulting conducted.
The STEP programme is expected to provide substantial opportunities for regional businesses, infrastructure development, and supply chain contracts, with economic benefits projected well beyond 2065.
