The Mayor of London, , will today release figures
showing that East London is the fastest-growing area of the
capital - with 110,000 additional jobs created since the 2012
Olympic Games.
New figures released by the Mayor show an economic boom in the
2012 Olympic host boroughs of Barking & Dagenham, Greenwich,
Hackney, Newham, Tower Hamlets and Waltham Forest, with the
number of jobs created more than three times the forecast pace of
growth in 2013.
According to a report by Oxford Economics, the world-renowned
economic forecaster, this boom is expected to continue with an
additional 125,000 jobs across the six boroughs by 2030. The
lion’s share of the these are predicted to be in science and
technology.
In Tower Hamlets, there are now 50,000 new jobs since 2012, while
Newham (17,000) and Hackney (25,000) have seen job growth
five times larger than expected.
The regeneration of East London, led by the London Legacy
Development Corporation following the hugely successful 2012
Olympic and Paralympic Games, has seen a significant increase in
the population with more than two million people living in the
area – 170,000 more than projected in 2013. It has secured a
legacy for all the venues on the Park and built new
neighbourhoods, business parks and cultural areas, helping to
transform this area of London into a key destination for culture,
sport, business and education.
Speaking at the Leading London: London at the heart of business
innovation conference at Here East this morning, the Mayor will
also set out his plans on how to create a new, world-class
cultural destination in the Olympic Park. He is determined to
bring together some of the world’s best arts and education
institutions, making it one of the largest cultural and
educational destinations in Europe.
His plans include the Victoria and Albert Museum, the Smithsonian
and Sadlers Wells working in close collaboration with the London
College of Fashion and University College London.
The Mayor of London, , said: “The legacy of the 2012
Olympics is not just about the Queen Elizabeth Olympic Park. It
is about delivering regeneration for an area of London that we
want to last for decades to come. “I am pleased to see this area
of London is providing tens of thousands of new jobs for
Londoners in important industries like technology, science and
media. This is great news for East London, great news for our
city and our country. It shows what can be achieved by bringing
together a world-class public realm, access to culture and proper
co-ordination between affordable housing, social infrastructure
and transport, and should be a good example of providing good
growth across our city. Businesses, universities and cultural
institutions are flocking here and the centre of gravity in
London is moving East. “I’m also working hard to create a
new, world-class cultural destination in the Olympic Park,
bringing together some of the world’s best arts and education
institutions. We’ve not seen anything on this scale in London
since the creation of the museum complex in South Kensington over
150 years ago, and I’m looking forward to it becoming one of the
largest cultural and educational destinations within Europe.”
David Goldstone, LLDC Chief Executive, said: “The report comes as
welcome confirmation of the continuing success of the
regeneration work in East London. The analysis showing East
London outperforming the rest of the capital in terms of job
creation and population growth is testimony to the investment by
the public and private sector and the forward planning to create
a new part of the city. It’s especially pleasing that so many of
these new jobs will be in high value and high skill sectors like
science, technology, finance and insurance and we are determined
that local people will continue to benefit from the opportunities
being created in and around Queen Elizabeth Olympic Park.”
