Games Accelerate Rebirth of East London

Staging the 2012 Games has rapidly accelerated the regeneration of east London, delivering a massive £2 billion boost to the capital's economy and creating 10,000 permanent jobs many years earlier than forecast, according to a report published today by the Mayor of London, Boris Johnson.

As a result of winning the Games up to £600 million has been invested in new infrastructure, which in turn has seen phase one of the £1.45 billion Westfield Stratford City retail development forge ahead by up to seven years earlier than planned. The research by Volterra, commissioned by Westfield Group, estimates that completion of phase two of the development will be up to 25 years ahead of the investor's plans and will see the total number of permanent jobs created rise to 15,000.

The jobs created at Westfield Stratford City are in addition to the wider jobs and skills legacy being delivered through 2012 Games programmes, which include lifting more than 25,000 people into new jobs. In addition, 400 apprentices have been trained on the Olympic Park site, a further 40,000 training places have been provided and 50,000 people have received support to get back into work.

As a result of this massive public and private investment, transforming what has been one of Europe's most impoverished areas for decades, investors from around the world are getting in touch about the multitude of investment opportunities that now exist.

The figures were revealed as the London Mayor joined Stratford City's development director, John Burton, and Newham Mayor, Sir Robin Wales, on a tour of the retail centre. They met construction workers finishing off the site as well as some of the very first people who have been offered jobs there after attending Westfield, Newham and Seetec's unique retail academy The Skills Place Newham', which is supplying skilled workers to operate the centre and its shops.

The Mayor of London Boris Johnson said: "Our commitment to transform the job prospects of Londoners and bring lasting economic benefits as a result of the 2012 Games is already becoming a reality.

"The future of this long-neglected area is looking bright thanks to both the Games and the vision of Westfield Group. And this is just the tip of the iceberg as investors from across the planet see the incredible opportunities arising as we develop this brand new district in our great city."

John Burton, Director of Westfield Stratford City, said: "This project is the first piece of legacy for East London and, with the creation of 10,000 permanent new jobs from our opening on 13th September, it demonstrates the scale of regeneration taking place in this part of the city. Although this project was going to happen with or without the Games, London's successful bid to host the Olympics gave us all a fixed deadline and has therefore accelerated the delivery of the investment and job creation by up to 25 years."

Sir Robin Wales Mayor of Newham said: "Our great partnership with Westfield has enabled us to set up Skills Place Newham which will equip local people with the training and expertise they need to get back into work.

We have already been successful in helping more than 7,500 people into work through Newham's Workplace programme which was developed to make sure local people receive advice about their employment options and have the right skills for their chosen career.

"Workplace will now work in close partnership with Skills Place Newham to help us deliver a lasting legacy of sustained employment for our residents."

Andrew Altman, Chief Executive of the Olympic Park Legacy Company, said:"The combination of Westfield Stratford City and the Queen Elizabeth Olympic Park will generate an unprecedented amount of opportunities. We are working with Westfield to expand the training being delivered at The Skills Place so it can also meet some of the future job opportunities on the Park. By mapping out these opportunities now with training providers, we hope to give local people the best possible chance to benefit."

For more information, contact:http://www.london.gov.uk

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