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Bexley Economic Plan Consultation Draft 2014

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The Bexley Economic Plan is about supporting people through promoting enterprise, learning, skills and businesses by working to improve the context in which they operate. Most of all it’s about demonstrating aspiration. The Economic Plan is a key element of Bexley’s manifesto for change. It will communicate to our partners, businesses and inward investors that Bexley is open for business and has a clear vision of where it wants to be.
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Delivering Growth An Economic Plan for Bexley CONSULTATION DRAFT REPORT
Transcript
Page 1: Bexley Economic Plan Consultation Draft 2014

Delivering Growth

An Economic Plan for Bexley

CONSULTATION DRAFT REPORT

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The London Borough of Bexley

Delivering Growth: An Economic Plan for Bexley

September 2014

Regeneris Consulting Ltd www.regeneris.co.uk

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Contents Page

1. Introduction 2

Our Objectives 4

Summary 4

2. A 2030 Economic Vision for Bexley 6

What this Means for Bexley’s Places 7

3. THEME 1: Improving Places and Infrastructure 12

Recognising Our Challenges 12

Opportunities to Support Growth and Nurturing Talent 13

Actions 13

Measures of Success 14

4. THEME 2: Employment, Education, Skills and Participation 16

Recognising Our Challenges 16

Opportunities to Support Growth and Talent 17

Actions 17

Measures of Success 18

5. THEME 3: Supporting Business Growth 20

Recognising Our Challenges 20

Opportunities to Support Growth and Talent 20

Actions 21

Measures of Success 22

6. THEME 4: Selling Bexley 24

Current position and Challenges 24

Opportunities to Support Growth and Talent 24

Action 24

Measures of Success 25

7. How this will be Delivered? 28

The Delivery Plan 28

Leadership and Resourcing 28

Guiding Principles for Delivery 28

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1. Introduction

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1. Introduction

1.1 London Borough of Bexley, along with its partners is committed to securing more jobs and sustainable economic growth over the next 15 years and beyond. Having considered the recent performance of our economy and the opportunities that exist in London and the South East, we have recognised that we need a new approach to supporting the positive evolution of our growth agenda.

1.2 This document is the foundation of this. It will underpin the policies and activities which we believe will transform Bexley’s economy, making the borough a more prosperous and dynamic place.

The Opportunity

1.3 Our estimates suggest that thousands of jobs and multiple £billions of investment could be secured in Bexley by 2030. We also realise that to achieve this, we (along with our partners) need to think differently about our approach to growth. While we have some excellent businesses and highly resourceful, skilled residents, our economy has not been performing as well as it could. Employment, job numbers, business formation, levels of inward investment and skills achievement are not currently meeting our aspirations.

1.4 By recognising the challenges we face and embracing the opportunities that would come from planning effectively for growth,, we believe we will be better placed to support local people and businesses and ultimately ensure Bexley is a more prosperous and popular place to live, work and visit. To capitalise upon this, we have developed this new economic strategy

Delivering Growth

1.5 This document underpins a new focus on growth. We want to support Bexley’s evolution as one of London’s most dynamic boroughs; a location that welcomes new residents and businesses and benefits from increasing economic activity and prosperity.

1.6 In the past, economic development activities has focussed on ensuring that Bexley’s population and business base develop their skills and take advantage of local opportunities. Whilst this is an important component of our plans, it needs to be balanced by capitalising upon our position in a growing global city; by encouraging new investment; by lobbying for and supporting the delivery of new infrastructure and by us welcoming new people and businesses into the borough. It is this focus which is new and arguably different from our previous economic strategies.

1.7 Bexley is increasingly operating within a more competitive environment where both public and private investment is increasingly scarce. We recognise that a more outward focus on growth, building upon the borough’s strengths, is the most effective way to generate prosperity for Bexley residents and businesses.

We recognise that a more outward focus on growth, building upon the borough’s strengths is the most effective way to generate prosperity and support the borough’s broader aspirations

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Nurturing Talent

1.8 We want Bexley to be a place where talented people live and work. As well as supporting our existing residents and businesses to achieve their potential, we also want the best and the brightest London residents to come and live in the borough, boosting our talent base even further. We believe that by growing the proportion of young professionals who chose to make Bexley their base in London, we will develop stronger foundations for longer term growth and prosperity.

1.9 To achieve this ambition, we recognise that we will have to change perceptions of Bexley; further improve our town centres facilities and amenities and provide an aspirational housing offer to match the quality of life which is already strong in the borough. In addition to this, we need to enable a new range of spaces for existing and new residents to develop and grow their businesses and develop their skills further.

1.10 Bexley schools perform well and have an even greater role to play in terms of supporting progression to Higher Education. We want to ensure that, along with our local Further and Higher Education Colleges, these strong educational foundations are developed so all our students have the aspiration and support they need to be active, successful members of our population and economy in the future.

Maximising Opportunities

1.11 There is plenty for Bexley to be optimistic about. In developing this plan we have talked to our partners and share a view that:

Bexley is an important part of London’s future and partners are committed to playing an active role in ensuring that the borough is a key component of a growing global city

Bexley already has specialisms which will be important to the future of London. Food Production/Processing, Construction and Energy will all be crucial to the city’s future

Bexley has the land and space to accommodate new commercial and residential development and the capacity for significant future growth. With relative affordability and improving connectivity, Bexley is well placed to benefit from future investment

Bexley’s unique position as a gateway to London and to the South East means that it is positioned to accommodate businesses who need to bridge these markets as well as trade with Europe

With a good education offer, amenities and green spaces, Bexley is a great place to live and, with further investment in key infrastructure, can accommodate London’s growing workforce

Bexley already has some unique and successful economic assets. This includes major international companies such as Coca Cola, award winning and innovative SMEs and internationally significant cultural education provision at Rose Bruford and Bird Colleges.

1.12 Fundamental to the success of the Bexley Economic Plan will be the articulation of these and other positive messages. They will underpin our objectives as well as provide a clear, consistent position and message for investors, both public and private sector.

…we want the best and the brightest London residents to come and live in the

borough

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Our Objectives

1.13 We have built our economic strategy around the following objectives:

1) Theme 1: Improving Places and Infrastructure

2) Theme 2: Employment, Education, Skills and Participation

3) Theme 3: Supporting Business Growth

4) Theme 4: Selling Bexley

Summary

1.14 The diagram below summarises our economic strategy outlining our vision, themes, priorities and the guiding principles for delivering upon our long term aspirations:

1.15 The remainder of the document sets this out in more detail, starting with our phased vision.

By 2030 Bexley…• Is on of London’s fastest

growing boroughs. • Has sector specialisms of

London wide significance

• Has a larger, more skilled, economically active population

• Has a bigger more diverse businesses base

• Has stronger physical and strategic connections to London

• Has more diverse and popular town centres

• Supports clear career pathways for all

THEME 1:Improving Places and Infrastructure• Detailed planning for

population and economic growth

• Securing Crossrailextension and other new transport connections

• Diversifying the town centre offer

SUP

PO

RTI

NG

GR

OW

TH A

ND

NU

RTU

RIN

G T

ALE

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THEME 2:Employment, Education, Skills and Participation• Sub-regional

collaboration on employment brokerage and skills

• Direct support for those furthest from the labour market

• Attract new HE provision to Bexley

THEME 3:Modernistaiton and Diversification of the Business Base• Specialisation and

diversification within growth sectors

• Re-launch the Thames Innovation Centre

• One to one support for start-up and proven growth companies

THEME 4: Selling Bexley• Change external

perceptions of Bexley• Communicating a

compelling value proposition for markets

• Celebrating our successes

Guiding Principles of Delivery

Prioritisation: We recognise that wecannot do everything; tough andrisky decisions will need to be made

Flexibility: This is a long termopportunity. Things will change;flexibility is crucial

Communication and cooperation:Commit to new relationships withresidents, businesses and investors.

Mobility: Support our existingpopulation to access employmentand business opportunities acrossLondon

Quality: The higher the quality ofthe borough’s offer, the highergrowth can be achieved

Evidence: Give partners access tothe best available information ontheir local and borough economies.

Investment: Make long terminvestments in the borough’s future,beyond electoral cycles

Partnership: Commit to work withanyone who shares our ambitionsfor Bexley.

VisionAction & Priorities Principles

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2. A 2030 Economic Vision for Bexley

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2. A 2030 Economic Vision for Bexley

2.1 The evolution and growth of our economy will be a long term, iterative process. There is no fixed end point, but to guide the process we have set a vision for 2030:

2030 Vision

Bexley will have one of the highest rates of economic growth in London. The borough will have developed specialisms that not only support the growth of the local economy but also the ongoing evolution and competitiveness of London and the wider South East.

Bexley residents will have the necessary skills and qualifications to ensure that they are able to participate in the opportunities the borough’s evolution presents. This will be underpinned by a new spirit of entrepreneurialism, innovation, the knowledge that residents can stay living in the borough and have successful, rewarding careers.

The borough will be better connected, providing the impetus for Bexley town centres, residential and industrial areas to become even more popular and competitive places. People will come to Bexley to benefit from improved infrastructure and to capitalise upon the borough’s excellent quality of life.

2.2 To help guide our interventions and the actions of our partners, we will introduce new mechanisms to monitor our progress. In doing this, we will aim to track our successes over 2, 5 and 10 year periods:

2 Year Vision – Making Our Case

2.3 By 2017 the groundwork and partnerships will be in place to support our ambitions. Locations within Bexley will increasingly be seen as important components of London’s future growth and external investment from public and private sources will have been secured to help us deliver our plans. Bexley’s growth ambitions will be clear and understood by all.

2.4 New projects will have been developed to support our businesses and residents to participate in opportunities locally and in markets throughout London and the South East. Early changes in perception of Bexley will also have stimulated the interest of inward investors and developers.

5 Year Vision – Delivering Growth

2.5 By 2020 the impact of new investment, development and focus will be becoming evident.

2.6 Physically, new development within borough will create improved living and working environments and will ensure that more people want to come to live and work in Bexley. As a result, the borough’s business and resident population will have become more economically diverse, with clear evidence of new specialisms.

2.7 Our town centres will have seen an increase in footfall which will support their development and bring new operators and uses to each of them. In addition, there will be clarity on long term transport and infrastructure investments in Bexley, further stimulating investor interest in the borough.

2.8 Local people will be supported to capitalise upon their ambitions, with both business formation and participation in higher education increasing.

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10 Year Vision – Consolidation

2.9 By 2025 Bexley will have become one of London’s fastest growing boroughs both in terms of Gross Value Added and full time resident employment.

2.10 Ambitious growth plans in the north of our borough will be well into the delivery phase, with communities being created that include new homes, schools, leisure facilities, infrastructure and jobs. There will be an increased, accessible and high quality higher education presence in Bexley, providing a high quality education continuum from primary school onwards.

2.11 The borough will have a more highly skilled population and will consistently be a key location for business formation. Importantly, incomes across all groups of the population will have increased, with the borough becoming more prosperous and inclusive.

What this Means for Bexley’s Places

2.12 We cannot of course, expect Bexley to change without thinking about how the places within our borough will also evolve.

2.13 Our aim is to support the whole borough to become more competitive and prosperous. However, we, and our partners, will need to make choices about where to invest time and resource. To that end we have identified specific locations where we believe investment can bring about the biggest possible change. These are the Northern Growth Zones and Target Town Centres.

Supporting the Northern Growth Areas

2.14 In developing this strategy, we have identified four locations within the borough which we feel can accommodate significant residential, business and employment growth. A fundamental component of our activity in the coming years will be to undertake detailed planning of these places and develop new ways to support their evolution.

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Thamesmead and Abbey Wood

2.15 The arrival of Crossrail by 2019 will provide a significant stimulus to develop new communities on the western borders of the borough. As well as new housing development attracting new residents into the borough, Abbey Wood town centre will grow into an important node for South East London. New social and community infrastructure as well as cultural and leisure facilities will broaden to the offer to local and incoming residents as well as creating additional employment in the borough.

Erith and Slade Green

2.16 Erith and Slade Green together form a major growth opportunity area, with a number of sites in desirable locations for both commercial and residential development. Erith needs to make more of its modern retail units, riverside location, historic buildings and the recent relocation of Bexley College to enhance its potential for residential and leisure development. The potential for a Crossrail extension to Ebbsfleet, via north Bexley stations, stopping at Slade Green, Belvedere and Erith, will create significant opportunities to develop communities and employment in this part of the borough by 2030.

Crayford

2.17 Crayford is already one of Bexley’s more successful manufacturing areas, it is critical that this activity is supported and businesses are helped to diversify and become more innovative. The town centre is also expanding although we recognise the need to support a more rounded leisure and cultural offer to match the strong food retail provision. Sites exist for residential development which will help the area’s development as a genuinely sustainable community where new and existing residents can live, work and play.

Belvedere

2.18 With significant land availability, and vast potential to improve road and rail links, Belvedere has the opportunity to evolve to accommodate large scale residential and employment development. The delivery of a new Thames crossing at Belvedere and a potential extension to Crossrail, offer a significant stimulus for the area in the next decade. By creating a higher quality, contemporary environment for employers, Belvedere can become a lynchpin of our inward investment proposition, as well as providing land to help develop new communities. Belvedere also has the potential to accommodate additional education, skills and potentially higher education provision.

Improving Existing Town Centres

2.19 As Bexley grows and is recognised as a more prominent part of the London economy, our existing town centres will become an increasingly important part of our offer. Good town centres will help capture spend of Bexley residents and employees, providing physical manifestation of a more prosperous and dynamic borough. To do this we will also have to ensure we respond to increased competition from further expansion of major out of town shopping centres and neighbouring major district centres, ensuring that Bexley centres provide a unique and recognisable offer. In the first instance, we will focus activity on the following three centres:

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Bexleyheath

2.20 Bexleyheath will remain the borough’s main town centre; critical not just to Bexley, but to South East London as whole. In addition to its retail offer, it is recognised that Bexleyheath needs to diversify, offering high quality, mainstream and niche cultural activities as part of an improved night-time offer. As a major hub, Bexleyheath should also accommodate more space for small businesses to start, grow and prosper.

Welling

2.21 Welling is historically one of south-London’s more independent retail high streets. Our short term priority in the area is to support our independent businesses to grow. In the longer term, we need to support new businesses to locate in Welling to attract greater footfall and boost local custom in the centre.

Sidcup

2.22 With significant investment and improvement in recent years, we need to reinforce Sidcup’s role and reputation as an important local centre. It will be particularly important that the town centre capitalises upon the opportunities presented by the presence of a growing higher education student population at Rose Bruford and Bird Colleges.

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3. Theme 1: Improving Places & Infrastructure

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3. THEME 1: Improving Places and Infrastructure

3.1 Bexley is already an attractive place to live; we have good schools, affordable homes and there is plenty of land for development. We believe that this puts us in a unique position to be able to deliver the room for news homes and jobs that London needs. The Centre for Economics and Business Research (CEBR) predicts that London’s economy will grow by 19% in the next five years, the GLA estimates that the population will be almost 10m by 2031. Bexley needs to gear up to shape how it can benefit.

3.2 Successful, dynamic economic places are well connected and well serviced. They not only cater for current demand, but are also able to adapt with changing demands and markets. We want Bexley and its constituent places to be ready for future opportunities and to become a more vibrant part of London; a place where dynamic young Londoners want to live.

3.3 This is not just about building more homes to meet the London’s needs; it is about providing better connected, and better serviced places and communities which give Bexley a genuine comparative advantage over other locations in London and further afield.

Recognising Our Challenges

3.4 We are ambitious and we want to transform Bexley, particularly the north of the borough where there is greater scope for change. However, we also recognise that we need to overcome some challenges to ensure a sustainable response to the growth opportunity in the future

We need to create the conditions for growing companies to locate and flourish in Bexley

and offer a genuine comparative advantage to other locations in London and the South

East

We need to support our residents to ensure their skills match the needs of the local and

regional economy enabling them to compete successfully; we want to be a natural

location for talented Londoners

We need to be a more connected location, with better links to central London and the

South East

We need to actively support and facilitate investors and developers to deliver the

ambitions of this plan, making it easier to come to Bexley

We need to make sure that Bexley can capitalise on the strong pipeline of predicted

demand in London both for our residents and businesses

…it is about providing, better connected, and better serviced places and communities which give Bexley a genuine comparative advantage over other locations in London and beyond

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Opportunities to Support Growth and Talent

3.5 Creating better places with improved infrastructure, services and amenities is crucial to our plans to encourage economic growth and to nurture and retain talent.

3.6 Principally, future investment will provide opportunities for the delivery of new homes, transport, business spaces and social infrastructure; getting this right will be fundamental to attracting talented new residents and new growing businesses.

3.7 In doing this, we need to recognise the great places and interesting activity which is already evident in our economy. The presence of two unique cultural education facilities (Rose Bruford and Bird Colleges), an established food and drink sector and some genuinely innovative SMEs, gives us genuine niches which need to be supported with better services in improved places.

3.8 With availability of land for homes and businesses we believe we can create places that people can come to and achieve their ambitions. By better connecting these places to each other, to London and the greater South East, we can place Bexley at the heart of the wider region’s development.

3.9 We recognise that encouraging more people and more businesses to come to Bexley will not be without it challenges. We will need a broad coalition of partners to work together to ensure that the offer is of the quality that befits our ambitions and serves the needs of local communities as they grow and change. Getting this right however will create activity and demand within our economy which will create demand for our existing businesses, jobs for residents and investment in our town centres.

Actions

Improving and developing places in Bexley, alongside the delivery of new infrastructure, is a long term project which will be delivered beyond the lifespan of this strategy. The emphasis in delivery must be on supporting the delivery of quality, which supports a genuine sustainable transformation in the borough. We have identified the following interventions which will help us do this:

Ensure that investment in infrastructure and growth in Bexley also supports the delivery of the remaining three objectives within this strategy

Establish an interdepartmental growth team to plan and oversee planning and delivery of Bexley’s new growth ambitions, identifying areas with the capacity to accommodate new residents and businesses. This will focus on Belvedere, Crayford, Erith and Abbey Wood and Thamesmead

Establish a business board (including some external developer partners), to represent the needs of existing and incoming businesses, developing closer links between the Council, its partners and the business community

Lobby for the easterly extension of Crossrail with stops at Belvedere, Erith and Slade Green

Collaborate with neighbours including Greenwich and Dartford to actively market the ‘South London Riverside’ area to investors

…we need to recognise the great places and interesting activity which is already evident in our economy.

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Work with developers and investors to develop new, mutually beneficial structures and partnerships to deliver new housing, commercial space and infrastructure across the borough

Support the delivery of new transport infrastructure (including DLR and the Belvedere river crossing and road infrastructure) where this is predicted to deliver economic benefits for Bexley

In supporting new residential development, ensure that green and environmental technologies are embraced and the delivery of new Green Infrastructure and systems are supported.

Support innovation in the delivery of housing tenure and ownership structures

Using the recent Town Centres Assessment as the basis, ensure that our centres (particularly Bexleyheath, Sidcup, Erith, Crayford and Welling as our largest town centres) are ready to capitalise on opportunities as a result of more people and businesses within the borough. Including:

Supporting the development of improved cultural and recreational infrastructure

to improve the appeal of Bexley as a residential location

Supporting more diverse, dynamic and ‘edgy’ cultural activities within town

centres

Where the periphery of town centres remain underutilised (particularly in linear

centres such as Welling and Bexleyheath), consider opportunities to support

mixed use development to further increase the diversity of population in Bexley’s

centres

Build upon the successful Sidcup & Co initiative to support the delivery of flexible,

low cost commercial spaces in Bexley’s town centres

Support community and leisure uses as well as a programme of regular events and

festivals to introduce new residents and visitors to Bexley’s town centres

Improve facilities to capitalise upon student populations in Erith and Sidcup by

supporting a more targeted cultural and leisure offer which captures spend locally

Measures of Success

3.10 There are a range of official data sets that will help us track our success over the next 15 years, including:

Increase in population of working age (particularly aged 20-40)

Increase in public and private sector investment into Bexley

Housing and businesses space delivered

Increase in footfall and spending in Bexley locations town centres

Improvement in transport journey times

Increase in jobs and employment in Bexley

Increase in the size of the borough business base

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4. Theme 2: Employment, Education, Skills & Participation

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4. THEME 2: Employment, Education, Skills and Participation

4.1 We are ambitious about creating more prosperity in Bexley. However, if economic growth and investment does not provide opportunities for all, this strategy will have failed. It is crucial that we use this strategy to increase employment, skills and participation in Bexley and deliver a higher quality education and support for local people.

4.2 Employment, skills and participation are incredibly complex and success will be dependent upon our ability to facilitate positive activity in terms of participation in the employment market. We must also ensure that all new investment and development in Bexley maximises job creation and long term career opportunities.

Recognising Our Challenges

4.3 Section three of our Local Economic Assessment provides detail on skills and employment in Bexley, supporting the case for investment in this area. In Bexley there has traditionally been a relatively high rate of employment and economic activity however

We need to ensure that Bexley residents are able to access the full range of employment opportunities available to them in Bexley, London and the South East

With an ageing population and an increasing number of retirees in Bexley, it is important that we encourage an active young population within our local labour market

We need to clearly understand the barriers and provide positive pathways to higher education, which allow young people to achieve their potential without leaving the borough

We need to ensure that our local young people have the skills and ambitions to succeed at work, particularly when they seek employment in local companies

As we encourage businesses to locate into Bexley we must ensure that companies bring genuine variety and diversity of employment into the borough

We need to ensure that our local residents can access higher level positions whilst living in the borough and talented Londoners, who already have good jobs, want to work here and move to the borough

We must redouble our efforts to engage with and support those Bexley residents who are furthest from the labour market

If economic growth and investment is not inclusive, this strategy will have failed.

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Opportunities to Support Growth and Talent

4.4 Employment, education, skills and participation is all about supporting our talented residents to achieve their potential in Bexley.

4.5 We recognise that our residents are part of the London labour market and as such, have the opportunity work in some of the most interesting and rewarding jobs anywhere in the world. Likewise, the wider economy in the wider South East region is now showing signs of recovery and we will work to ensure that residents can access opportunities there.

4.6 We will support current and future Bexley residents to access jobs across London and the South East, ensuring they have the connections, skills and confidence to engage with opportunities. In particular, we need to make sure that there is strong provision to support skills development in the sectors which will be an important part of London’s future development.

4.7 Our ambitions to support growth through physical development over the next two decades will not only create additional jobs within our construction sector (already one of the strongest in London), but new residents moving into Bexley will create more demand, spending and jobs in the local economy. We will need to make sure that local people and businesses have the skills and capacity to capitalise upon this.

4.8 Finally, and perhaps most importantly, we need to do more to build upon the strong performance of our local schools. As well as working with schools on a day to day basis to involve them in the evolution of our economy, we will ensure that Bexley’s school leavers are able to progress to further and higher education.

Actions

4.9 Supporting employment, education and participation, will need to be iterative, and responsive to opportunities. To a certain extent, the focus of much of our activity will be signposting and ensuing that local people have access to the best information and support to realise their potential. We will need to have strong policies in place to constantly monitor public and private partner activity, to ensure that that we intervene in the most efficient way possible. This could include activity to

Build upon what is already here. Our Resources Plus service has already placed hundreds of Bexley residents into work and our Adult Learning, Skills and Employment Strategy promotes strong systems to ensure that when job opportunities present themselves, we are able to act quickly. As the opportunities become bigger we will need to support the scaling up of provision. To do this, we will support collaboration with our neighbours in Bromley, Greenwich, Lewisham and Dartford to establish stronger systems to link local residents to new jobs

Support engagement with and between front-line providers of employment and skills support, particularly in our communities in the north of the borough to lever new funding into to support their activities

Ensure that Bexley residents are given optimum access to local, sub-regional and London-wide apprenticeship programmes, providing clear communication of the options available for vocational training across London

Support the development of new mechanisms to enable Bexley’s smaller businesses to participate in apprenticeship and work experience programmes, minimising risk and cost to companies

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Engage with new and existing providers to diversify the life-long skills offer in Bexley; in particular, providing pathways and progression to the skills which will be increasing important in London’s economy. Digital skills in particular will be a priority in the lifespan of the strategy

Work with local businesses to promote the benefit of recruiting full time employees and investment in workforce training

Support early intervention to link those residents who are furthest from the labour market to opportunities in sectors where Bexley already has strengths (such as Construction, Food and Logistics)

Support and encourage schools to link their curriculum to the evolution of both the Bexley and London economies

Identify and work with new higher education providers to:

Improve access to degree level education for Bexley residents

Achieve a long term aspiration to deliver increased HE provision and potentially

new campus facilities in the borough

Create centres of excellence for emerging sector specialisms

Through the Adult Learning, Skills and Employment Strategy, support targeted interventions to improve post-18 education access, aspiration and performance by:

Improving links between young people and businesses inside and outside Bexley

Facilitating re-entry to learning and skills for resident who are both in and out of

work; creating a renewed culture of learning in the borough

Using best practice from elsewhere, enhance the enterprise education offer to

provide all Bexley students with an understanding of the challenges and

opportunities associated with running a business.

Providing a more compressive Pre-Apprenticeship programme to make it easier

for businesses to recruit local young people

Measures of Success

4.10 We can access a range of data which will help us track our performance in this area. Much of this is published on a regular basis and can allow us closely monitor employment and engagement in Bexley. These include;

Increase in population of working age (particularly aged 20-40)

Decrease in claimant count amongst Bexley residents

Number of local young people participating in work experience

Increase in equalised income and wages amongst Bexley residents

Decrease in long term unemployment

Increase in progression to Post 18 education amongst Bexley residents

Increase in proportion of residents achieving higher level qualifications

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5. Theme 3: Supporting Business Growth

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5. THEME 3: Supporting Business Growth

5.1 Bexley has a broad business base, which includes major multinational companies and award winning, innovative SMEs. We recognise however, that if our economy is to grow we will need more businesses undertaking a broader range of activities active in the borough. This will mean not only supporting those sectors which are already important to our economy, but also considering how the borough can accommodate other businesses to enable a more diverse base.

5.2 As a council we want to be firmly on the side of our businesses, as well as supporting our residents to pursue their own entrepreneurial ambitions. We also recognise the need to create business environments and support packages that offer a genuine competitive advantage to companies locating in Bexley.

Recognising Our Challenges

As with employment and skills performance, we have a lot of information at our disposal to help us understand the performance of our business base.

We must increase the number of businesses in the borough

We need to support more enterprise amongst the local population, as well as supporting entrepreneurial Londoners to come to Bexley

We need to encourage Bexley businesses to provide permanent, long term opportunities along with good training and career prospects

We need to better understand new communities in Bexley and how their ambitions to develop new businesses can be supported

Where businesses are struggling, we need to work closely with them to ensure they have the best chance to succeed in Bexley

Opportunities to Support Growth and Talent

5.3 As we support the evolution of our business base there will be plenty of opportunities to meet our overarching objectives around growth and talent.

5.4 We already have many talented residents who are keen to start and grow their businesses. Through strong engagement, this strategy will help us to facilitate access to business support which meets their specific needs. As new residents come to Bexley, we will also ensure that space and support exists to enable them to develop their business ideas within the borough.

5.5 Evidence with our local economic assessment shows us that a number of our specialist sectors clearly have growth potential. We believe our strongest sectors will emerge based on our existing specialisms and as a result of new demand in London. Currently, we believe these include:

As a council we want to be firmly on the side of our businesses, as well as supporting our residents to pursue their

own entrepreneurial ambitions

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Our Existing Sector Strengths

Fulfilment, Logistics and Distribution – we already function as a hub for London and the south east. Over the lifespan of this strategy we will continue to support appropriate opportunities that secure higher value activities in the borough offering significant job creation, becoming an exemplar for smart specialisation in the sector

Manufacturing – has previously been the bedrock of Bexley’s economy. We need to build upon this and ensure that we support, higher value advanced manufacturing, fabrication and industrial crafts into the borough

Construction – a strong specialisation exists locally. We need to consolidate this activity, ensuring that our businesses remain the best in London and are at the forefront of delivering new green infrastructure and energy efficient homes in London

Sectors of Citywide Importance

Food Production and Processing – Historically this has been an important part of the Bexley economy and is identified as a priority in London and by our neighbours in Kent. We need to support the re-emergence of our food sector as a leader in the south east economy.

Clean Tech and Low Carbon Activities – A London-wide priority. With available land and some existing activity, we are well placed to support the growth of increasingly fundamental activities in this sector.

5.6 We have underutilised industrial spaces and commercial land which gives us scope to support business growth and activity within our target sectors. The delivery of new infrastructure and better connections over the lifespan of this strategy (See Theme 1) will ensure the more effective use of our assets and create a strong environment to support business growth and higher value jobs.

Actions

5.7 Intervening to support growth and diversification within our business base will involve (principally through the proposed Bexley for Business Board) a broad coalition of partners and potentially a wide range of interventions, spanning all aspects of this strategy. A key element of this will be better linking our businesses to the regional support offered through the London Enterprise Panel and the GLA.

5.8 We acknowledge that success will be dependent upon us maintaining strong communication with our current and future businesses and making it as easy as possible to stay and grow in the borough. In short, we want to be London’s most business friendly borough.

5.9 The interventions that will help us achieve this are set out below:

Better understand all contact the London Borough of Bexley has with the business community and try to understand where this can be enhanced to provide a more effective, higher value service

Target and proactively engage businesses within growth sectors,

We want to make it as easy as possible to stay and grow in the borough. In short, we want to be London’s most business friendly borough.

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providing the conditions to support relocation and clustering within the borough

Support targeted interventions in locations where businesses have seen a decrease in turnover and have lower levels of business satisfaction

Re-launch the Thames Innovation Centre as a hub for innovation and start-up activity with links to other business spaces, schools and higher education

Support the development of a Bexley for Business offer including:

Raise awareness of existing and new support delivered across London

Supporting networking amongst the local business base, targeting specifically,

those companies who have not previously been engaged

Ensure that Bexley businesses have the best information to support them to

access finance

Working with the LEP and UKTI to Support targeted intervention to help Bexley

businesses to get goods to market, be that into London, or exporting to Europe

and the rest of the world

Work more closely with neighbouring authorities to collaborate on business

support projects

Work with other boroughs, regional and national partners, to facilitate growth within target sectors. This could include targeted support for innovation, identification of opportunities for smart specialisation and collaboration in marketing

Promote enterprise education, bridging the gap between schools and business start-up

Support the development and promotion of a network of low cost, flexible space for business start-up in the vicinity of new populations and transport infrastructure

Support the development and promotion of a network of low cost, flexible workshops space to enable the ongoing evolution of Bexley (and London’s) indigenous manufacturing base)

Measures of Success

5.10 Evidence of the successful evolution of Bexley’s will be very visible. We will be able to see our companies grow and new businesses locating in the borough. There are also a range of indicators we can use to track change. These could include:

Increase in the number of business starts

Increase in The number of businesses in the borough

Increase in Business satisfaction.

Increase in number of people employed.

Increase in wages paid by Bexley businesses.

Increase in reported turnover of Bexley businesses.

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5. Theme 4: Selling Bexley

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6. THEME 4: Selling Bexley

6.1 The success of this strategy will largely be dependent upon individuals and businesses outside of the borough, better understanding what is unique about Bexley and why it is a great place to live and work. Selling the borough and its key locations challenging and changing perceptions is critical and it starts right now.

Current position and Challenges

6.2 In developing this plan, we have spoken with our partners inside and outside of the borough to gauge their opinions on Bexley. This and the available relevant data have told us the following:

As connections to Bexley improve, we need to take this opportunity to reintroduce Bexley to London, and the rest of the UK

We need to work more closely with our regional partners to sell Bexley to the world

We need to communicate the merits of locations in the context of the borough, London and the wider south east

We need to build a stronger value proposition to encourage business and investors to come to the borough. We need to be able to differentiate ourselves in relation to other places

We need to identify mutually beneficial opportunities, working with our neighbours to develop a more compelling sub-regional offer

Opportunities to Support Growth and Talent

6.3 To deliver our aspirations, we need to make a more compelling case to external partners and investors, showing that Bexley is a genuinely unique and valuable proposition.

6.4 The positives are very clear; Bexley is in London, the preeminent global city; it is increasingly well connected; and it has space to accommodate growth. By being seen as a more fundamental part of London’s future success, we will share in the challenges and rewards of the city’s growth.

6.5 The excellent living environment, housing and education offer should be more of an attractor for the talented young residents . We need to make more of the great things that are going on Bexley, showing others that we are dynamic and interesting location.

Action

6.6 Many of the actions that will form our response to this theme relate to communication and messaging. Ultimately, this will mean refining processes within the Council and amongst our partners to ensure that perceptions will change. More specifically, this could include:

In the short-term, providing clear messages to strategic stakeholders to help them understand what Bexley has to offer London, providing ongoing information for the intermediaries to better sell Bexley

To deliver our aspirations, we need to make a more compelling case to external partners and investors, showing that Bexley is a genuinely unique and valuable proposition.

6. Theme 4: Selling Bexley

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Development of the Bexley brand identity, focussing upon the needs of key markets (building upon a strong ‘value’ proposition in London):

Potential Residents

Domestic Investors

International Investors

Working with partners to develop a clear prospectus for key sites within Bexley, along

with an appreciation of appropriate visions and vehicles to take these locations to

market. This should include physical marketing like the B4B magazine, as well as web

based material through the Bexley for Business website

Ensuring everyone acts as ‘brand ambassadors’ and proactively promote Bexley on

‘bigger stages’.

Work with relevant businesses and sector representative bodies to directly promote

Bexley to relevant companies across the UK and internationally

Developing mechanisms (utilising traditional and social media) to provide a more

consistent celebration of Bexley’s assets and successes (Rose Bruford and Bird College

alumni, Coca Cola, green infrastructure and proposed new transport infrastructure)

Examining the potential for the creation of a strategic brand for a new, wider riverside

economic area and A2 Corridor (as well as other potential areas of investor interest)

Measures of Success

6.7 Changes in the perception are a precursor for so much within this strategy; if we can change the way people see Bexley in the short term, we can achieve a great deal by 2030. In the longer term, we will measure our success through the following indicators

Increase in positive regional, national and international news stories regarding Bexley and locations in the borough

Increased inward investment (both foreign and domestic)

Increase in developer interest in Bexley

Increase in the size of Bexley’s business base

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7. How will this be Delivered?

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7. How this will be Delivered?

The Delivery Plan

7.1 This document is accompanied by a delivery plan which will underpin the activities we support over the next three years. This outlines the projects introduced within this strategy; detail of partner responsibilities; the rationale for investment (using our evidence drawn from our Local Economic Assessment; and funding sources which will be explored to resource this strategy.

Leadership and Resourcing

7.2 This strategy will be led by London Borough of Bexley, but needs to be owned by a broad range of local and regional partners. This will include core and specialist service providers, educational institutions, civil society organisations, the GLA, London and Partners, developers, investors and politicians, local businesses and Bexley residents. Only with buy-in and involvement from all of these groups will we achieve our ambitions.

7.3 We are realistic about the challenge ahead and understand that our focus on growth and talent will place Bexley within competitive markets. The new approach will be hard work, not least when it comes to resourcing the projects.

7.4 There will be limited grant funding available for at least the next five years. European funds which have traditionally supported economic development projects will also be vastly reduced (and more focussed). With this in mind, we will need to explore innovative approaches to funding in order to stimulate and unlock growth.

7.5 Despite the reduction in mainstream and grant funding, there remains (and will continue to be) a number of funding options available (Regional Growth Fund, ERDF, Growing Place Fund, SLGF amongst others); it is important that these are all given significant thought. We also recognise that we will have an important role in levering funding and resources into the borough. Our role as planning authority, alongside the planned physical growth in the borough, places us in a good position to do this.

Guiding Principles for Delivery

7.6 Our new approach will undoubtedly involve making difficult choices and taking some measured risks. To support this, we have agreed a number of guiding principles that we intend to adopt and will be held accountable to:

Prioritisation: We recognise that we cannot do everything and should intervene where the most significant opportunity for investment-led growth exists. Whilst at times we may focus on specific growth locations, we will make sure that all local people are linked to opportunities.

Ambassadorial: We will relentlessly promote Bexley and celebrate our successes. We will support others to do the same ensuring that Bexley is seen and talked about as genuine location of value.

This strategy will be led by London Borough of Bexley, but needs to be owned by a broad range of local and regional partners

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Flexibility: This is a long term opportunity. We will aim to be flexible, listening to, and working with partners, businesses and residents, to adapt to new opportunities and challenges.

Communication and cooperation: The London Borough of Bexley will not be delivering this strategy alone. We will commit to new relationships with residents, businesses and investors who can support us in facilitating delivery in the borough.

Mobility: We recognise that Bexley is an important part of a growing global city economy, with many opportunities being created across London and in the South East. We will support our existing population to access employment and business opportunities, even if they are outside of the borough.

Quality: The higher the quality of the borough’s offer, the higher growth can be achieved. We will Ensure all strategies and principles align with this approach

Evidence: More so than ever before, evidence and information is critical to making the right economic decisions. We will facilitate decision making, by giving our partners access to the best available information on their local and borough economies.

Investment: We will seek to make long term investments in the borough’s future; partnering with public and private partners not only to develop new economic places, but also to ensure that businesses and residents are given the opportunity to pursue their individual growth ambitions.

Partnership: We commit to work with anyone who shares our ambitions for Bexley.

7.7 Through these principles, and new levels of participation and communication, we will ensure that we collaborate with all partners to make the right decision to support long term growth in Bexley.

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Appendix A - Local Economic Assessment Summary

A.1 Regeneris Consulting was commissioned in summer 2013 to develop a new Economic Plan for the London Borough of Bexley. The Plan will guide the future economic development (and wider) activities of Bexley and its partners and in doing so has a number of broad objectives:

To provide a robust understanding of the borough’s economy

To provide the evidence needed to inform decision making processes

To help unite local stakeholders, politicians and investors

To articulate the Bexley offer to investors and businesses

To help deliver a step change in delivery of services and business support

A.2 Underpinning the Economic Plan (as well as other related activities locally) is a detailed evidence base, drawing together information from a number of quantitative and qualitative sources. This Local Economic Assessment is summarised below:

Who Lives and Works in Bexley?

Key points: Bexley’s workforce and population have been growing slowly by London standards.

Bexley has more families and retired workers than London as a whole; as a result, it has a

relatively low proportion of young graduate-level workers that typifies the city’s labour market.

Bexley is a hardworking borough; residents are more likely to be in work than in London as a

whole although jobs in the borough are relatively low paid/low skilled by London standards. The

schools perform well, but Higher Education participation rates are very low.

A.3 A borough of 234,300 residents. The last census recorded that Bexley has a population broadly comparable to that of Greenwich (260,100) and Havering (239,700).

A.4 Modest rates of population growth. Over the last decade, Bexley’s population grew by 6% (13,700 additional residents) compared to a 14% (approximately 1 million additional residents) increase across London. This is a reflection of its Outer London location and lower levels of house building in recent years. There are signs this is now changing.

A.5 High representation of families and those over working age. Twenty one percent (47,600 residents) of Bexley’s population are age 15 or younger and 8% (18,500 residents) are above the age of 74; this is a generally characteristic of Outer London boroughs.

A.6 Above average rates of economic activity, but relatively slow growth in absolute numbers. Bexley’s economic activity rate (72% or 118,900 people) is in line with that of London and surpasses the East London (70%) and Outer London (71%) averages. However, the number of economically active residents in Bexley only increased by 9% (10,300 people) over the last decade compared to a 22% increase across London.

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A.7 Above average employment rate. Bexley’s current employment rate of all residents aged 16 to 74 is 64% (106,300 people), above that of East London (53%), Outer London (63%) and London (62%). Over the last decade the population in employment increased by 6% (5,800 people) compared to a 20% increase across London.

A.8 Low unemployment. Bexley’s ILO unemployment rate, 4% (7,200 people), is lower than that of East London (6%), Outer London and London (each 5%).

A.9 Larger proportion of young-adult claimants. Although Bexley’s claimant count rate is below the London average; 26% of all Jobseekers Allowance claimants in Bexley are between the ages of 18-24 (equal to 1,020 people), compared to 21% across London.

A.10 Ageing workforce raising the need for future replacement demand. 29% (31,800 people) of Bexley’s working population is above the age of 50, compared to 22% across London.

A.11 Good results at school age and school performance. Bexley benefits from a number of high performing schools. In 2012, 89% of Bexley’s Key Stage 4 students achieved 5 GCSEs A*to C including English and Mathematics, surpassing the London level (84%).

A.12 However, there is low participation in higher education. Only 32% (5,050 people) progress to higher education compared to 45% in Outer London and 43% in London.

A.13 Proportion of highly skilled population is low by London standards. Only 22% (40,100 people) of Bexley residents are qualified to NVQ Level 4 or above (broadly degree level), which is below the average for London, Outer London and East London. Consultation indicated that aspirations locally could be higher and that this could be affecting economic growth. The presence of Higher Education in the borough (particularly Rose Bruford College) is under played at the moment.

A.14 Out of Borough commuters drive up earnings. Median earnings of those who live in Bexley are above neighbouring boroughs and in line with the Outer London average. Those who live in Bexley earn considerably higher wages per week than those who work locally (£513 versus £402 per week). The earnings of those who work in Bexley are amongst the lowest in London.

How is the Bexley economy faring?

Key points: Bexley’s economy has not benefited from the growth in service sectors which has

been the main driver of the London economy. As a result, Bexley has performed poorly compared

to London as a whole in terms of job creation. Those residents who have the right skills and

qualifications are clearly are able to access these wider London opportunities; however, the level

and range of local jobs has not changed significantly and is now skewed toward low paid, low

skilled work. Historically rates of new business start-ups and the stock of businesses per head

have been amongst the lowest in London; there are however, signs that this is changing and the

borough is becoming more entrepreneurial.

A.15 Bexley’s economy is growing, albeit slowly. In 2011 the borough’s output was equal to £3.1 billion. Since 2001 it has grown by 35%, compared to 40% in Outer London and 62% London as a whole.

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A.16 Overall job losses in Bexley but growth in some sectors. There were 63,400 jobs in Bexley in 2011, more than in Barking and Dagenham and Dartford. Since 2003 however, this figure has decreased (by 1%); this compares to increases of 7% London and 12% in east London. However, sectors such as education, health, wholesale, scientific and technical activities and information and communications have experienced job increases.

A.17 Localised increases of part-time employment. Bexley has an above average level of part-time employment. Belvedere in particular has experienced a 16% increase in part-time employment since 2008, compared to a 2% increase at the borough level.

A.18 Concentrations of employment in retail, health and education. Almost half of Bexley’s employment (47%) is spread evenly across the sectors of retail, health, education, and business administration.

A.19 Local specialism in some industrial related activities. Compared to London, Bexley has a high concentration of employment in activities relating to waste collection, motor trades, and manufacturing, amongst others. These are sectors which are relatively low wage and lower skilled, or at least require very different skills sets from the knowledge based sectors which have been the main source of growth for London.

A.20 Large levels of out-commuting to the rest London. In common with nearly all Outer London boroughs, there is a high level of net out-commuting of between 30,000 to 45,0001 residents to employment, predominantly elsewhere in London.

A.21 Low business density. Bexley’s business density (31.6 businesses per 1,000 population) is surpassed by all comparator boroughs with the exception of Barking and Dagenham, and Greenwich. Stakeholders suggest there are opportunities to strengthen the borough’s inward investment offer and to provide a more co-ordinated approach to business networks and support.

A.22 Low enterprise levels but recent rise in start-ups. There are currently 7,300 businesses in Bexley. The rate of start-ups in the borough has surpassed all comparator boroughs since 2008-11. Consultation indicates that this trend is likely to continue, particularly in the north of the borough where more entrepreneurial communities are locating and growing.

A.23 Fewer business closures since 2008 and relatively high business survival rates. Over the last five years, Bexley has experienced a 2 point decrease in its business closure rate compared to comparator locations which have experienced an increase in closure rates. Bexley’s second year survival rate is 76%, which is above neighbouring boroughs.

Assessment of Key Sectors

Key points: Bexley has traditionally been recognised as a location for logistics (the borough has a

high degree of specialisation relative to the national average), construction and manufacturing,

sectors; these will continue to play an important role within the local economy in future years.

There are other sectors (such as low carbon goods and services and food production) which are

evident in the borough but which could evolve to capitalise upon new markets and higher value

added sub-sectors. Other sectors such as retail, and health and care will continue to be important

1 This data was only available as a range at the time of writing. Further Census 2011 data releases are expected from ONS over

2014.

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in serving local need, particularly if there is growth within the Bexley population.

To identify current and future opportunities within the business bases, Bexley’s sectors have

been divided into three types:

Sectors with a high degree of specialisation – which already demonstrate a high

degree of local specialisation and which can be supported to diversify to support more

technical and knowledge based activities. This will help to increase higher level skills,

wages and value added within the borough. Key sectors: Food production; Logistics;

Energy.

Sectors with potential for strategic growth – those which are typically less specialised,

but for which there existing opportunities to develop new markets and grow to develop

higher value added activities. Key sectors: Low Carbon Goods and Environmental

Services; Construction; Manufacturing; Advanced Manufacturing; Knowledge Economy.

Sectors serving a local need – sectors which typically respond to demand from the

local business or resident population. There are opportunities for employment growth

through an increasing borough population, though it is likely that the market will

remain local. Key sectors: Business Services; Leisure, Recreation and Culture; Retail;

Health and Care.

Bexley’s current sector profile is outlined below:

Overview of Key Sectors

Sector Type Sector Number of Jobs

Number of Businesses

Employment Location Quotient

(LQ)2

High Degree of Specialisation

Food Production 1,700 15 2.0

Logistics 3,500 175 1.5

Energy 800 15 1.6

Potential for Strategic Growth

Construction 4,100 1,010 1.4

Low Carbon Goods and Environmental Services

1,900 170 1.0

Manufacturing 4,000 250 0.8

Knowledge Economy 5,800 1,100 0.6

Advanced Manufacturing 800 110 0.4

Health and Care 8,400 380 1.1

2 A location quotient (LQ) is a measurement of the concentration of a certain industry in a location compared to a larger area,

whether regional or national. A result greater than one indicates a higher than regional/national average concentration, while a figure below one would indicate a less than average concentration.

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Serving Local Need

Retail 7,500 575 1.1

Business Services 8,800 1,740 0.8

Leisure, Recreation, and Culture

4,000 445 0.8

Key sectors Total 40,930 4,610 -

Percentage of Bexley Total 64.9% 82.7% -

Source: Inter Departmental Business Register 2012 and Regeneris analysis

Note: Some sub sectors appear in more than one sector and therefore the sectors do not appear to sum to the Key Sectors Total

Key Industrial and Business Locations

Note: Town centres are considered separately within the Town Centres Assessment and the findings are summarised later within the executive summary.

Key points: Bexley has a variety of industrial and business locations. The north of the borough is

characterised by large industrial locations including Belvedere and Erith with a focus on larger

employers in food processing, logistics, manufacturing and energy production. Locations such as

Crayford and Foots Cray provide concentrations of office based employment. Foots Cray in

particular is recognised by stakeholders as being a location with a strong local office offer,

supporting business services. All four areas are identified in the Bexley Core Strategy as locations

for jobs growth.

Findings for each business location are summarised below:

Key Industrial and Business Locations Belvedere

Two Sustainable Growth Areas. One has a significant proportion of the borough’s traditional industrial and warehouse employment (Belvedere). The other, centred on Thamesmead, has previously been earmarked for Bexley’s future higher value economy with the development of the Thames Innovation Centre.

Bexley’s largest employment area. There are 4,600 jobs located in this area, with over half in logistics (36% of total employment) and manufacturing activities (27% of total employment).

Future employment growth. The Bexley Core Strategy targets Belvedere for the delivery of 2,250 new jobs over the period 2011-26. This will be achieved by diversifying the local employment base and by facilitating innovation and economic

Erith

Concentration of large industrial and warehousing employers. Including the Darent Industrial estate, which houses 30 businesses employing approximately 300 people.

A number of key employment sites. Including the Church Trading Estate, which houses 85 firms employing a total of 1,100 people across a variety of sectors; 20% of employment in logistics, 18% in businesses services, and 10% in construction.

Strategic riverside location and future employment growth. The Bexley Core Strategy targets Erith for the delivery of 2,250 new jobs over the period 2011-26. It is anticipated that the majority of future development will take the form of refurbishment and redevelopment of existing facilities.

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development.

Crayford

Major district centre with industrial history. Although there has been a general decline in traditional, industrial business, Crayford retains high levels of industrial and warehousing jobs. There is also a high concentration of office employment in Crayford, relative to the borough as a whole.

Key employment sites within the Sustainable Growth Area. Two of the main employment sites in Crayford are the Acorn Industrial Park and Optima Park. Acorn houses 150 businesses which employ a total of 2,900 people, 39% of which in retail.

Cluster of manufacturing activity. Optima houses a total of 30 businesses and 600 employees. 35% of total employment is in manufacturing activities and 22% in advanced manufacturing. A further 18% of employment is in logistics.

Targeted future job growth. The Bexley Core Strategy targets the Crayford/Old Bexley area for the delivery of 1,750 new jobs over the period 2011-26. Crayford’s business function must be supported as part of a managed consolidation of employment uses.

Foots Cray

Important office employment location. The area located beside the village contains a Primary Employment Location in the Bexley Core Strategy. Office employment is greater in Foots Cray than other parts of Bexley, with demand existing for new office space.

Concentration of knowledge based activities. Twenty nine percent of employment is in the health and care sector, 22% in the knowledge economy, and 21% in business services. Important business locations within Foots Cray include Sidcup Technology Centre, Ruxley Corner Industrial Estate, Five Arches Business Estate, and the LEFA Estate.

Future growth driven by new office facilities. The Bexley Core Strategy targets the Sidcup/Foots Cray area for the delivery of 2,500 new jobs over the period 2011-26. This will be pursued through new office facilities and modernising existing facilities.

Living in Bexley

Key points: Bexley is seen by some as a borough of two halves Closer interrogation reveals a

much more complex picture. While there are pockets of significant deprivation in Thamesmead

and Erith, these locations have seen some positive change in recent years (in terms of business

formation)

Given the jobs available locally, those who work in the borough earn less on average than those

who live in the borough and work elsewhere. Characteristic of Outer London boroughs, Bexley has

a high proportion of home ownership (though social rented housing is above average in a number

of Bexley wards in the North of the Borough). The Core Strategy sets relatively low housing

growth targets for future years in the context of London as a whole.

A.24 Below average earnings for both residents and workforce. Bexley’s residents’ weekly earnings are broadly in line with other Outer London boroughs.

A.25 Pockets of deprivation. There are pockets of deprivation in the north of the borough around Thamesmead/Belvedere and Erith, while some housing deprivation is also recorded in the south of Bexley,

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A.26 High levels of home ownership. 73% of Bexley residents own their home, which is well above the London average (48%). Nevertheless there is a high level of social-rented housing at the local level in Belvedere (24%) and 38% in Thamesmead East ward. The Borough has lower levels of private rented housing than London as a whole, although this has risen significantly in the last ten years.

A.27 Future housing planned for north-east. The Core Strategy aims to build around 5,465 new homes between 2011-2026, 26% of which will be located in Erith, 18% in Bexleyheath, and 13% in Crayford.

Infrastructure and Connectivity

Key points: One of the challenges for economic growth in the borough is transport connectivity,

with north-south public connections and links to central London being recognised as particular

issues. This has created perceptions of inaccessibility to markets and jobs in London amongst

businesses and residents. Bexley has a short journey time to London Bridge and will benefit in the

near future (by 2019) from a new Crossrail station at Abbey Wood. The borough has low property

values and high land availability. This (and a favourable Community Infrastructure Levy relative

to neighbouring boroughs) could help to support an increase in development in the future.

A.28 Transport infrastructure is recognised as a significant issue in Bexley. Public transport within the borough, particularly north-south connections, and to locations outside of the borough are identified as barriers to economic development, limiting the ability of residents to access employment and deterring inward investors.

A.29 Low property values. Low values could be an opportunity to differentiate Bexley and attract future development. That said, the Borough is not able to compete effectively with Greenwich which offers lower commercial property values on average and is better connected to Central London.

A.30 Low commercial and residential transaction level and growth. Bexley has not seen the same rate of growth in land transactions as comparator boroughs, suggesting a less active development market.

A.31 Priority infrastructure investment. The Council has identified a number of priority infrastructure investments. Transport infrastructure projects in funding at present include the Crossrail station at Abbey Wood which is due to open in 2019.

A.32 Favourable Community Infrastructure Levy. Bexley’s draft Charging Schedule for the Community Infrastructure Levy compares favourably to neighbouring areas particularly for residential and retail developments.

Bexley Town Centres Assessment

Note: Refer to the Town Centres Assessment report for detailed findings

Key points: Bexley’s town centres function well and their offer tends to meet local needs.

Bexleyheath in particular offers a good range of shops and services. Other towns in the borough

act primarily as food shopping destinations, although their cultural and leisure offer is weaker

than that of Bexleyheath.

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Employment in the Bexley’s town centres was impacted by the recession, although retail

employment remains strong. Stakeholders suggest that the borough’s retail offer cannot

compete directly with out-of-town shopping centres such as Bluewater, which remain a pull for

residents’ larger comparison spend. Town centre surveys indicate a high degree of satisfaction

amongst both businesses and town centre users, although centres such as Sidcup and Erith would

benefit from greater diversity of retail according to users.

A.33 The table below provides an overview of Bexley’s town centres, including findings from a detailed surveys of town centre users and local businesses:

Overview of Town Centres in Bexley

Bexleyheath

(Strategic Centre)

As the strategic centre, Bexleyheath provides a wide range of retail (including multiples), services and leisure functions. Town centre users and businesses are satisfied with this provision and it meets the needs of the local population. There is less of an office sector than may be expected for a town the size of Bexleyheath though it has above average quantum of leisure floorspace. There have also been significant public realm investments since 2012.

Businesses surveyed consider the town to be a strong business location, with particular strengths being the loyal customer base, good transportation and the business network (Bexleyheath Business Improvement District). Businesses in the town report varied performance in recent years, with less than half of those surveyed reporting positive turnover, profit and footfall over the last three years.

Crayford

(Major District Centre)

Crayford is characterised by small, independent retailers and operates primarily as a location for food shopping and personal services (and to a degree restaurants). It attracts a relatively low spend per visit (the lowest of the five town centres surveyed). It lacks good leisure and cultural facilities; an improved retail and leisure offer could help to attract more users. There has been mixed performance amongst businesses over recent years (less than half report positive turnover, profit and footfall over the last three years) but they remain optimistic about future growth and are on the whole satisfied with Crayford as a business location. Interestingly employment in the town grew slightly over the last decade (300 jobs) while employment across the borough declined.

Erith

(Major District Centre)

Erith is an important retail node for the north of the borough and largely serves the less-affluent local area. The town is primarily visited for food retail but generally the retail is not considered sufficiently diverse. Businesses tend to be satisfied with the town as a business location and the majority of those surveyed reporting growth in turnover over the last three years (though were less positive about profit, employment and footfall). Erith has undergone substantial redevelopment in recent years with a new mixed-use retail, residential and public sector development in the town centre (Resources Plus and Library Plus). While this has led to improved signage, public realm, cleanliness and sense of safety, it is not generally considered an attractive place to spend time and lacks a culture and recreation offer. Bexley College and the Adult Education College have moved to new premises in the town centre, which is anticipated to increase footfall and town centre vibrancy.

Sidcup

(Major District Centre)

Sidcup provides the main shopping and service centre for the south of the borough, with a mix of independent traders, a small number of national chains and a small Waitrose food store. Despite being located within an area of relative affluence, the town centre does not have a substantial offer and does not fully meet the needs of its local population. It fails to be attractive as a retail or leisure destination (its restaurants and personal services provision is considered to be more satisfactory).

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As a result, it has suffered high vacancy rates and public sector initiatives have responded to affect change, through measures such as the Outer London Fund and Sidcup and Co. Business performance has been varied in recent years. Whilst the number of businesses reporting positive performance in terms of profit, employment and footfall has been lowest of the five Bexley towns, businesses are optimistic about performance in the next three years.

Welling

(Major District Centre)

Welling has the most significant shopping offer in the west of the borough, with half of retailers being independent. Locally, it is a primary destination for food shopping and personal services as well as restaurants. The town’s cultural and recreational offer is however, identified as being weak. Businesses report varied performance over recent years (with less than half reporting positive performance against turnover, profit, employment and footfall) and there have been some job losses since 2003 (300). Survey results indicate that average spend per visit is higher in Welling than in the four other main town centres due to the proportion of visitors who primarily use the town for food shopping.

Belvedere, Blackfen, Northumberland Heath, Old Bexley

(District Centres)

There are variations in economic performance across the four district centres. Whilst Northumberland Heath experienced an increase in jobs in recent years and Belvedere and Blackfen saw no change, Old Bexley experienced a decline.

Note: Proximity of supermarkets to high streets means a number of town centre users visit for food shopping purposes. Other reasons to visit are also highlighted in the text to demonstrate the degree to which each town centre offers multiple functions.

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