Our Socio-economic Regeneration Strategy Outline
This stategy was approved by the board in January 2016, focusing on the following objectives:
- Establishing a liveable new place at Old Oak, with new homes, accessible facilities and attractive neighbourhoods enjoyed by residents, employees and visitors
- Delivering a new commercial centre for London that attracts investment, supports established, new and innovative businesses to thrive and grow, creating thousand of new jobs
- Protecting and strengthening Park Royal industrial estate and supporting its future competitiveness
- Providing education and training to improve life chances, and equip new and existing residents to compete in the economy of the future
- Promoting good health and well-being in the planning and development of the new neighbourhood.
Projects in development
We are building the evidence base and relationships with the boroughs and key partners to develop projects to unlock the regeneration potential of the area for local people and businesses. These project include:
- Park Royal Business Plan – engaging with local businesses to develop practical actions to remove barriers to growth and create long-term opportunities
- West London Construction & Future Skills Campus – upskilling local residents to fill apprenticeships and vacancies created through early developments on site, the HS2 construction programme, and regeneration projects across West London
- Supply chain development – building capacity among small, medium and large businesses to compete for contracts generated from new infrastructure and investment in the area
- Future talent pipeline – informing, inspiring and equipping young people to make successful careers in construction and London's future growth sectors
- Innovation hubs to stimulate new economic activity within the new developments at Old Oak, and through intensification of Park Royal.
A Socio-economic baseline of Old Oak and Park Royal was published by GLA Economics on 17 March. Commissioned by OPDC, it will be used to measure the impacts of the major regeneration project at Old Oak and wider area over time:
- The objective of Working Paper 74 is to provide a baseline of socio-economic and demographic indicators against which to measure the impacts of the Old Oak and Park Royal regeneration project over time.
- It analyses a number of different socio-economic indicators of the immediate area in and around the Old Oak Park Royal Development Zone, the wider region that surrounds the Development Zone, and compares with indicators for Greater London.
- This baseline will be used as a reference point in future years to measure changes in these indicators to assess the impact that the regeneration project is having on the Old Oak and Park Royal area.