Manchester United on Monday released a plan to regenerate Trafford Park, including the iconic Old Trafford to a new 100,000-seater stadium, which could boost the United Kingdom economy by an additional £7.3 billion per year.

As per Oxford Economics, one of the world’s foremost independent global advisory firms, an initial estimate has suggested that the project will contribute huge growth to the UK economy, including the creation of 92,000 new jobs, more than 17,000 new homes as well as driving an additional 1.8 million visitors per year.

The initial findings are based on a range of potential development opportunities in the Old Trafford area, including a 100,000-seater world-class stadium, plus new mixed-use developments around the stadium and in the adjacent Trafford Wharfside area, which will benefit the local community, attract new residents, increase job provision, and make it a vibrant destination for visitors from Manchester, the UK and all around the world.

Foster + Partners, lead architects on the Stadium District, has helped to shape the proposals for how best to utilise the land around the stadium to regenerate the area into a powerful driver of sustainable growth centered around sports, residential, entertainment, business, and education campus.

In addition to these positive impacts, there will be opportunities to unlock further significant economic impact associated with potential changes to the rail infrastructure around Old Trafford.

Once the plan is finalised, this work will also inform the final recommendations of the Old Trafford Regeneration Task Force.