Businesses in east London have teamed up to form a new group that will work with the next Government, regardless of election results, to generate more investment in the region.
The East London Growth Potential Group brings together businesses including London City Airport and the ExCel, as well as business group BusinessLDN. It is also backed by the Thames Estuary Growth Board.
The new association aims to “provide policy solutions for stakeholders and policymakers” in order to drive growth in east London. It will also work on upskilling the local population, especially in fields such as life sciences that are seen as crucial to the region’s growth.
Alison FitzGerald, CEO of London City Airport, said: “As one of the largest employers in the local area, we are committed to increasing the prosperity of the area. There are significant opportunities in east London that are waiting to be unlocked and we hope this group will be useful in highlighting the potential growth opportunities to further improve the area for east Londoners.”
A spokesperson for the project said: “East London has become a hotbed for high growth and innovation in the capital in recent years. However, we believe there is still so much more potential, that’s why it’s essential that business works with all levels of government to capitalise on the area’s growth opportunities over the next decade and spearhead future economic development.”
Jeremy Rees, CEO of ExCeL London, said: “Having been a part of the East London business community for almost 25 years, we fully endorse the new Growth Potential initiative. This part of the capital is rapidly becoming one of the leading areas for investment, innovation, and opportunity and together we can help unlock a new era of sustainable growth.”
The group is apolitical and will work with the Thames Estuary Growth Board, the Government, City Hall and all political parties.
Its launch comes as east London’s best-known business hub, Canary Wharf, faces an exodus of firms as businesses move into smaller offices in the City. Companies including HSBC and Clifford XChance have already announced plans to leave the Wharf.
