Date post: | 30-Dec-2015 |
Category: |
Documents |
Upload: | mariko-ryan |
View: | 96 times |
Download: | 1 times |
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
• Building Personal and Economic Capacity
Strategic location
Newham’s Unique Strengths
Scale
Connectivity
Energy
History
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
No qualificationsLondon 12%
Newham 20%
WorklessnessLondon 30%
Newham 44%
NVQ 3/A’s London 55% Newham 40%
NVQ Level 4/degreeLondon 40%Newham 26%
Weekly EarningsLondon £629Newham £453
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
• Creating the conditions for investment
• Developing the Newham offer for inward investors
• Achieving local benefit
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
• 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
Retail
Visitor Economy & Creative Industries
Construction Education
High-tech, Pharma, Green, Manufacturing
The Knowledge Economy
Enterprise zone incentives
o 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
• 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
• 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
• 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?
Contact details
Jane Sherwood,
Head of Economic Regeneration,
Regeneration, Planning and Property
London Borough of Newham
Newham Dockside, 1000 Dockside Road, London E16 2QU