Croydon shortlisted for Creative Enterprise Zone in London

  • June 28, 2019

Croydon shortlisted for Creative Enterprise Zone in London

Great news for Croydon was publicly announced recently as the borough looks at a £50,000 grant under the Creative Enterprise Zones initiative by the Mayor of London.

Croydon was among the six boroughs of London shortlisted for the cultural scheme that will help the winning borough develop into an upcoming cultural hub, attracting visitors and increasing its business opportunities. The grant will go towards mapping a comprehensive zone plan over the next few months for each borough that will focus on four key areas: Space, Skill, Support and Policy & Community.

Croydon Central Creatives has confirmed the location of the Creative Enterprise Zone to stretch from East Croydon Station to Croydon’s Cultural Quarter and Grafton Quarter.

Croydon has been a welcoming neighbourhood for Kingston University, Croydon Arts Studio and Talawa Theatre which have established the cultural foundations of the borough. “We have a huge range of different talents from dance, music and art, all of which comes together to create the most wonderful stories and to paint the story of what we are all about.” Chief executive of Croydon Business Improvement District (BID), Matthew Sims, underlined.

Croydon’s secret power is definitely its people. Their residents create a wonderful mosaic of diverse cultures and identities, adding a unique vibe to the borough.

What exactly does becoming the next Creative Enterprise Zone mean for Croydon?

According to the Mayor of London, CEZ offers a real solution to the spiraling cost of housing and workspace. The initiative offers incentives to young people who are looking to develop their careers in the creative industries.

“Getting the CEZ (Creative Enterprise Zone) will inevitably attract more investment to the area, but more importantly offer some protection to the artists, organizations, communities, and businesses that are already there.” The executive director of the Talawa Theatre Company, Natasha Bucknor, highlighted. Croydon has successfully managed to bring together an innovative new business, art organizations, and investors. Winning CEZ will reinforce Croydon’s position as an upcoming neighbourhood to watch out for in the years to come.

The croydon-based business will particularly benefit from CEZ, as the borough will gain prominence and attract more people to live, work and visit Croydon. It is estimated that around 300 new jobs will become available each year and generate growth of £26 million in the chosen boroughs.

Tottenham’s Creative Enterprise Zone project, which is the blueprint for this year’s project, has seen a growth of 12% in the creative industries in the past five years.

The creative industries contribute £47bn to London’s economy every year and account for one in six jobs in the capital. Through CEZ, Croydon will significantly contribute to London’s culture economy.

If you are looking for an investment opportunity in Croydon, contact Copperstones today on +44 (0) 8445 555 555 to book your first meeting.