London borough of newham creating jobs and enterprise
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London Borough of Newham Creating Jobs and Enterprise. Jane Sherwood, Head of Economic Regeneration, London Borough of Newham London Employment and Skills Convention – 23 May 2011. Newham’s Vision. A Place to Live, Work and Stay A New Part of London A Strong and Innovative Economy

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London borough of newham creating jobs and enterprise

London Borough of NewhamCreating Jobs and Enterprise

Jane Sherwood, Head of Economic Regeneration, London Borough of Newham

London Employment and Skills Convention – 23 May 2011


Newham s vision

Newham’s Vision

  • A Place to Live, Work and Stay

  • A New Part of London

  • A Strong and Innovative Economy

  • Building Personal and Economic Capacity


Strategic location

Strategic location


Newham s unique strengths

Newham’s Unique Strengths

Scale

Connectivity

Energy

History


The challenges

The Challenges

  • Newham’s business base is too small

  • Local economy is not aligned with key growth sectors

  • Existing town centres are operating below their full potential


Residents trapped in low skill economy

Residents trapped in low skill economy

No qualifications

London 12%

Newham 20%

Worklessness

London 30%

Newham 44%

NVQ 3/A’s

London 55%

Newham 40%

NVQ Level 4/degree

London 40%

Newham 26%

Weekly Earnings

London £629

Newham £453


The economic development strategy

The Economic Development Strategy

Three Key Goals

  • Investment in the New Economy

  • A Stronger Business Base

  • More People into Work

    Enterprise Zone supports achievement of all three goals


Strategic priorities

Strategic Priorities

  • Creating the conditions for investment

  • Developing the Newham offer for inward investors

  • Achieving local benefit


Strategic priorities1

Strategic Priorities

  • Maximising the impact of employability services

  • Extending the reach of employability support and targeting the economically inactive

  • Supporting parents into work to tackle child poverty

  • Preparing young people better for the future

  • Upskilling adults to enter and progress in work


Current investment plan and programmes

Current Investment Plan and Programmes

  • The Olympics and

    Paralympic Games

  • Metropolitan Stratford

  • Canning Town and

    Custom House

  • The Royal Docks –

    Enterprise Zone


Building the new newham economy

Business and Financial Services

The Knowledge Economy

Retail

Visitor Economy & Creative Industries

High-tech, Pharma, Green, Manufacturing

Construction

Education

Building the new Newham Economy


Enterprise zone incentives

Enterprise zoneincentives

  • 100% business rate discount worth up to £275,000 over a five year period for businesses

  • A simplified planning processes

  • Potential to negotiate additional tax breaks


Challenges to overcome

Challenges to overcome

  • We need to ensure revenues collected in the zone are reinvested back in Newham via negotiation with the Mayor of London and the Greater London Authority

  • Ensure any additional institutional architecture does not increase bureaucracy

  • Ensure that jobs created are accessible to local residents


One solution workplace model

One solution - Workplace model

  • Multi Agency Seamless Service (one stop shop)

  • Partnership Model

  • Employer Led, Rapid Response

  • High Volume, Target Driven Environment

  • High Quality, “high street”


Offer to employers

Offer to employers

  • Free recruitment service

  • Bespoke employer led

  • Vibrant, aspiring and diverse applicants

  • Matching and screening to employer specifications

  • Support with interview arrangements & venues

  • Ongoing support post recruitment


Questions

Questions?

Contact details

Jane Sherwood,

Head of Economic Regeneration,

Regeneration, Planning and Property

London Borough of Newham

Newham Dockside, 1000 Dockside Road, London  E16 2QU

[email protected]


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