 Building CERN's Future Circular Collider. An Estimation of Its Impact on Value Added and Employmentin WIFO Studies from WIFO Abstract: CERN, the European Organization for Nuclear Research, is hosting an international collaboration that develops scenarios for a new circular particle-collider based research infrastructure, the Future Circular Collider (FCC). Such a research infrastructure can also contribute to scientific and technological progress in many other areas that will be needed to construct and operate such a facility. Apart from science-changing insights and technological developments, there are direct economic benefits likely to arise from this project: the opportunities for firms to contribute to the installation and operation of this machine and the jobs that go along with these opportunities. The estimation of such effects is the purpose of this paper. The FCC is estimated to cost 12.1 billion CHF to construct and another 8.5 billion CHF to operate over its initial 15-year period. Using the economic model ADAGIO, we estimate that this will be associated with a cumulated 50 billion CHF of (world-wide) value added, in an average year securing around 26,000 jobs. Apart from the economic effects linked directly to the FCC itself, the host region will benefit from the cost-of-living expenditures of up to 11,000 FCC-related personnel as well as around 300,000 annual tourists expected to visit the largest machine ever built. Date: 2023 Written 2022-11-17 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:wfo:wstudy:69927 Access Statistics for this book More books in WIFO Studies from WIFO Contact information at EDIRC. |
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