ECONOMIC GROWTH & EMPLOYMENT CREATION

Economic Growth

The daily operations of Silo D will be based around the concept of a circular economy as this will ensure that any revenue generated will stay within the local area, benefiting local residents. The building will be designed to be extremely efficient which will ensure its financial viability without becoming a burden on the community and therefore profits can be reinvested back in order to deliver more workshops, events and training opportunities for local people.

Independent and small businesses will be supported as local artists will be invited to present their work and run workshops, an opportunity that may not have been presented to them otherwise due to the cost and location of other venues. This increased income will support local artists and their families with them consequently reinvesting their disposable income back into the local economy.

Local artists will have the opportunity to present their work and run workshops which in turn will support and grow their small businesses.

Employment Creation

One of the developments main objectives is to create opportunity and this will be achieved with Silo D through the delivery of employment and training for local people. The initial area appraisal showed Newham to be a deprived borough with residents looking to create fairly paid jobs, especially for young adults, and therefore positions will be created with the local demographic in mind.

Unlike Dublin's dockland regeneration which offers mostly high skilled tech jobs, Silo D will offer blue collar jobs within leisure and hospitality including full time positions for the cafe, reception and ground keepers for Silo Park and the wider green network. Apprenticeships within conservation and construction will also be offered during the initial regeneration process.

Such job creation will help to rebrand Silvertown Quays as an area of opportunity and allow a more bespoke approach to regeneration that seeks to deliver jobs that residents and the local economy actually require.

Apprenticeship opportunities will be offered within the kitchens as well as within conservation and construction during the regeneration process.