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Partnering for success
Published: 2009-09-11 09:59:18
Despite the recession, Croydon has been recognised for its partnership work to boost economic opportunities and attract investment into the borough says Cllr Steve O'Connell, Croydon's cabinet member for regeneration and economic development. (Sourced from London Bulletin.)
Croydon was awarded Beacon status earlier this year for its work on raising economic prosperity through partnership. It is the only London borough chosen for such an award, and the only authority in the whole of southern England to have achieved this.
Croydon was chosen because it has improved its economic performance over recent years and has done so using strong links with private, public and voluntary sector organisations.
At the beginning of this decade Croydon’s economy had stagnated and had almost the lowest level of enterprise in the whole of London – measured by the percentage of people who are self-employed.
This has changed over the past few years and the 2008 Competitiveness Index now shows Croydon is experiencing the greatest level of growth in London in terms of this indicator.
Of late, Croydon has received a further boost as it is being heralded by the Outer London Commission as a model economic hub which contributes to the overall development of the London economy.
This comes as the borough takes the next step on its regeneration journey, focusing its efforts on an independent Economic Development Company (EDC). The EDC’s brief includes anything that has an economic impact, including attracting inward investment and developing skills in the borough.