Building the Bypass will have a significant effect on employment and growth in Lombardy and Italy as a whole. The initial investment of €1.6 billion net of any interest expense will be multiplied by 3.37 and produce additional wealth in the region of €5.6 billion. This means TEEM is truly a counter-cyclical infrastructure in a period of recession. It has been estimated that it will add 0.3% to national GDP, 1.4% to Lombardy’s GDP and 2.8% to the GDP of Milan.
Most of the economic benefits of the project will be felt in the areas directly involved. The benefit for related business will be €2.3 billion, for the services sectors, €911 million and for industry, €770 million. In essence, it is an engine able to drive a recovery by creating jobs (18,000 jobs simply for the construction and 10,000 in other sectors) and other benefits derived from the improved infrastructure. It will also improve the environment and quality of life.
When TEEM is up and running, average vehicle speed will increase by 34%, cutting travel time by 8 million hours annually, meaning an overall saving of €150 million.