Redbridge Council is set to implement a new Economic Growth and Investment Strategy aimed at revitalising town centres and boosting employment opportunities for residents. The strategy, presented to the Regeneration and Economic Development Committee, outlines a multi-faceted approach focusing on people, business, place, and investment.
The council aims to create conditions for businesses to start, grow, and innovate, while also developing vibrant town centres and neighbourhoods that encourage local spending and community engagement. The strategy is currently being developed over the next three to six months and is expected to provide a long-term framework for economic growth in Redbridge with a five-year programme of actions.
Tom Dewey, Director of Regeneration and Growth, and Liz Hannam, Economic Development Team Manager, presented the emerging themes for the strategy. They highlighted that while Redbridge has a growing population and a high number of business start-ups, the borough faces challenges with economic inactivity, a below-London average employment rate, and a high proportion of micro-businesses. Ilford Town Centre, in particular, has a significant vacancy rate, though this has seen a decrease. The strategy proposes interventions to strengthen town centres by increasing dwell time, encouraging local spending, and addressing vacancy rates. An economic dashboard is also being developed to provide an evidence base for interventions and measure their impact.
The strategy proposes four key pillars: 'People', 'Business', 'Place', and 'Investment'.
Under the 'People' pillar, the focus is on supporting residents to access the skills, employment, and opportunities they are looking for. Priority sectors identified are construction, health and social care, and digital. A campaign over the next 12 months aims to promote social care, demystify expectations around it being a low-paid role, and highlight progression opportunities within the health service. The strategy also aims to support residents in accessing good quality jobs and provide opportunities for those who aspire to work in other boroughs.
The 'Business' pillar fosters an environment for enterprise growth. To attract investment, the council has developed an investment prospectus and plans to actively engage with developers and investors. The strategy aims to secure investment that supports sustainable economic growth. Furthermore, Section 106 agreements for new developments will continue to include clear employment and skills obligations, with developers being held accountable for providing desired job roles within the borough.
The 'Place' pillar focuses on enhancing town centres and neighbourhoods. Specific interventions for Ilford Town Centre include increasing dwell time and analysing spend data, with a particular focus on addressing concerns around short-term lets on the high street.
The 'Investment' pillar aims to secure sustainable economic growth. The council is committed to ensuring that development agreements include clear employment and skills obligations.
During the meeting, councillors discussed the need for flexibility in the strategy due to changing grant funding and the importance of data-driven decision-making. Concerns were raised about the impact of AI on jobs. The council acknowledges that while some jobs may be impacted, new opportunities are also being created. The Local Skills Improvement Plan (LSIP) commits to increasing digital and AI skills training and improving careers advice to help residents adapt. The strategy aims to equip residents with critical digital skills that support AI and ensure adults have access to support for reskilling and upskilling.
Support for older residents with limited digital confidence is also a priority. Adult skills funding is available, and further education colleges like New City College offer support. Digital inclusion is critical for both work and day-to-day activities. The LSIP aims to increase the availability of digital AI provision and improve careers advice, with a commitment to tailored and flexible support.
The strategy also identifies a significant gender pay gap in Redbridge, with women from certain ethnic groups disproportionately affected and being the majority of economically inactive residents. To address this, the strategy will focus on supporting businesses to grow, developing strong town centres, and creating higher-value jobs. Data on the gender pay gap and Living Wage Foundation statistics will be used to track progress.
The Redbridge Economic Growth and Investment Strategy will build upon the previous Employment Skills and Enterprise Strategy, which concludes in 2027. The new strategy aims to provide a long-term framework for economic growth, ensuring that development benefits all communities within the borough.
Further details on the strategy can be found in the Public reports pack for the Regeneration and Economic Development Committee.