improving the town centrePriorities and Actions<strong>Croydon</strong> <strong>Economic</strong> <strong>Development</strong> <strong>Plan</strong> <strong>2013</strong>-<strong>2018</strong>There are a number of initiatives and developments that arealready in train to develop the town centre. The following havebeen identified as pivotal to delivering economic growth over thenext five years.Delivering comprehensive development of the retail realmto ensure a mixed economy• Realise developments & infrastructure improvements to createoffice/business space & connectivity that meets the needs offuture users through schemes to ensure supply of stock meetsdemand from businesses.• Support potential retail newcomers in the town centre with newtrading initiatives and opportunities afforded through largerretail partners.Encourage a diverse mixture of office, leisure, retail andresidential uses to create a stronger offer while developinga safe and attractive night time economy• Support <strong>Croydon</strong> BID and the range of business partnerships todevelop initiatives that encourage more visitors and residentsto use the town centre through a range of initiatives to ensurethat vacant units are let.• Develop a model for high street management and roll over todistrict centres to ensure diverse economy is developed.• Develop initiatives resulting from the changes to business ratesand the advent of local control.Ensure that business accommodation reflects the flexibleoffice and B1 use class to provide the right environmentfor emerging sectoral clusters• Track business base movement and trends to support anyemerging growth sectors.• Promote newly established clusters and use as a marketing toolto attract new businesses to the town centre.• Enable support services such as warehousing, logistics, etc.provide necessary services to new retail environment.• Ensure education and training providers are aware of the skillssets required to access jobs in the new emerging high growthsectors.14
improving the town centreCase Studies<strong>Croydon</strong> BID<strong>Croydon</strong>’s Business Improvement District is geographically one ofthe largest BID areas in the country, representing approximately580 companies. Established in 2007 for five years, businesses havenow voted for the BID to build on its success to date and continueuntil at least 2017.This partnership of local business, the Council and otherstakeholders has been working towards enhancing the town centrewith much of the funding coming from the levies provided bybusinesses. The BID has secured £7.5 million additional investmentinto the town centre and has seen key achievements in improvingthe street scene, cleanliness, improving way finding and increasingvisitor numbers.Through the <strong>Croydon</strong> Business Crime Reduction Partnership,the work of the BID to fund additional police support and otherinitiatives resulted in a 10% reduction in overall crime, includingreported retail theft down by 55%. This lays the foundation for thecreation of a safe night time economy.<strong>Croydon</strong>’s Portas Pilot<strong>Croydon</strong> Council has been successful in securing a £100,000 awardas part of central government initiatives to improve the performanceof Town Centres as a result of the Portas Review in 2011.<strong>Croydon</strong> is one of 12 centres, out of 371, that applied in the firstround of funding across the country, selected to be a Portas Pilot,which will bring a tailored package of support as well as the grant.The focus of the scheme will be to help transform the Old Towninto a thriving market, food and cultural quarter – emphasising itslocal heritage.A newly-formed Town Team, comprising of local traders andbusinesses, council officers, <strong>Croydon</strong> BID and other stakeholderswill have a full-time base in the area.Projects are likely to include improvements to shop fronts, creationof a member-owned cooperative to provide small loans andestablishing a new food court in Exchange Square.Through an enterprise for heritage project, in association withthe Prince’s Trust, the team will be also looking to support a newgeneration of young entrepreneurs by giving them the help theyneed to get into business in the historic Surrey Street market.<strong>Croydon</strong> Business Rate Relief SchemeThe initiative runs from October 2012 to March 2015. It is targetedexclusively in and around the town centre in the area which isreferred to as “<strong>Croydon</strong> New Town” in the list of the Mayor ofLondon’s Opportunity Areas for business and employment growth.The scheme aims to:• Create or maintain 1,311 gross jobs (based on 69 companiesleasing premises at an average of 19 employees)• Support 839 indirect jobs• Reduce vacancy by 9% in office accommodation stock within<strong>Croydon</strong> New Town.Companies with less than 250 employees and a turnover of lessthan £40million per annum are eligible to apply.The Council will be working in partnership with developers,property agents, the BID and South London Business to jointlypromote, this local business rate incentive.Saffron SquareThe mixed use development at Saffron Square will provide 755residential units designed around a one acre public square featuringoffice space, café, bars and a Tesco store. The project is due to becompleted in early <strong>2013</strong>.<strong>Croydon</strong> <strong>Economic</strong> <strong>Development</strong> <strong>Plan</strong> <strong>2013</strong>-<strong>2018</strong>15