An innovative and collaborative five-year strategy which aims to boost Croydon’s thriving economy was approved by cabinet last night (18 November).
Croydon’s Economic Strategy will create new jobs as the borough becomes one of sustainable growth with varied high streets, a dynamic business environment and an open and fair economy, with innovation at its heart.
It will build on Croydon’s successes, which include a 33% increase in businesses coming to the borough in the past five years and being named London’s best borough for the council’s innovative and effective mix of support and engagement with its small businesses.
The strategy will see the council continue to work with partners and stakeholders to drive sustainable growth, with a vibrant and diverse leisure and cultural offer in its Evening and Night Time Economy action plan investment in public spaces and infrastructure, with a strong meanwhile use offering.
As part of efforts to drive commercial and industrial development, the council will look to adopt a responsive development management and building control plan to create high-quality commercial spaces which will be protected from applications to change them from business use and to engage with international trade delegations to open up markets for Croydon businesses.
Continued investment by the council in commercial interests will support an enterprising economy and help develop creative, digital, innovation and new green technology sectors.
Investment in a world-class education offer will help raise the aspirations of the borough’s 93,000 young people creating employment opportunities in growth sectors and ensuring the borough’s training and jobs offer meets the needs of residents, employers and the economy.
“Partnership and a need to be more sustainable has driven this strategy, which comes at an exciting time for Croydon.
“We have more than 14,500 businesses in Croydon, 99% of which are small and medium-sized enterprises and we must support those who help drive the borough’s growth where we can. This strategy outlines how we will do that.
“We’re undergoing the biggest period of transformation we’ve seen in more than 50 years, and we are determined this growth is shaped by our local business community and residents, who will share the successes with us.”
Councillor Manju Shahul-Hameed, cabinet member for economy and jobs