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

jane.sherwood@newham.gov.uk