| Construction and operation of the new tunnel will have an impact on businesses and jobs in the local area and will also have wider economic effects at regional level. At a local level, the scheme will unavoidably require the demolition or relocation of business premises directly affected by the tunnel alignment. It is currently estimated that no more than eight full-time equivalent jobs may be lost as a result of the scheme. The TWPTA has been in consultation with the owners of the affected businesses to agree relocation and compensation arrangements. Operators of heavy goods vehicles will see the toll for HGVs rise to twice that for cars by 2014. For the full tolling regime click here. Under the terms of the concession agreement, it will be a requirement that Tyne Tunnel staff in employment at the start of the concession period are retained. It is estimated that approximately 300 full-time equivalent construction jobs will be created while the tunnel is being built. Construction-related jobs will be safeguarded at off-site support businesses such as the suppliers of materials and services. Economic studies indicate that the new crossing will assist in supporting new employment opportunities in the local region through improving access to markets - a key site selection criterion for company relocation.
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