Economic Growth | royaldocksul3

Economic Sustainability & Job Creation

As our development is community-led most of the economic benefits of the development will be aimed towards the growth of the local area, this will be achieved through two crucial schemes those being enterprise zones and local enterprise partnerships.

Enterprise Zone

In 2013 the Royal Docks was announced as an enterprise zone by the major of London and the GLA.

The area has seen significant interest from investors and businesses looking to base their headquarters for their businesses in the area who still wont to be located in London. This area has become attractive through being branded as a new business and financial hub in London.

The enterprise staus will also benefit smaller businesses and startups through decreasing tax rates. The increased footfall from larger companies will provide customers for this local business such as shops, restaurants and attractions.

Rebranding

To make the development successful the integration of the new development with the existing ones, mixing affordable housing with market housing will help the residents to feel like they are included and not segregated because of their income.

For many years now this site has sat disused since the deindustrialisation of the area, however redeveloping the area and making it known across London might turn the development into a destination in London which people want to travel to spend the day there or just go for lunch. Having festivals, activites or exhabitions will help to achieve this.

Employment Opportunities

The main employment sector for the area will the tertiary sector or service industry, most of the jobs will be created from the mills development with floors of the mixed-use development being sold off for commercial use. the ground floor area will be sold off to various restaurant startups, independent coffee shops, and corner shops.

On the other hand in the short term, you have employment opportunities in construction, consultation or working for the CLT to help achieve the development.