here is the east
LONDON, Oct. 1 /PRNewswire/
Oxford Economic data shows Here East has exceeded all criteria in the original offer document.
The campus now has 5,400 members and has created over 10,000 jobs in the UK and over 5,000 in neighboring communities
The data also shows that Here East contributed £700m to gross value added (GVA) to the UK economy in 2021.
New data released today shows the size and impact of the Here East Technology and Innovation campus in London. The data highlights how the award-winning Delancey campus is impacting local and national economies, creating jobs and supporting education and business development – ten years after it was founded as an important part of the legacy of the 2012 London Olympics and Games.
Here East was awarded the contract in 2012 to transform the Park’s International Press and Broadcasting Center – an essential part of the infrastructure for the London 2012 Games – into a home for global technology companies, start-ups, academic institutions and creative firms. Today, 5,400 people live here – 3800 working for companies on the site and 1,600 studying – and all of them regularly work on campus.
Independent data from Oxford Economics shows that in 2021 Here East activities supported nearly 10,300 jobs across the UK, generated £317 million in wages and contributed £700 million of GDP to GDP.
The data shows the impact Here East has on the local communities and surrounding neighbourhoods, and reveals that a significant proportion (15%) of the UK’s Middle East supply remains in the region, creating jobs – nearly a quarter of Here East employees live locally – and Powered local supply chains.
The 37 companies based on the Here East campus, which range from BT Sport and FiiT to UCL and Loughborough University of London, have reported positive results in terms of productivity, citing the collaborative environment as an incentive to expand the workforce, increase income and expand the so-called supply.
According to survey data, more than three-quarters of survey respondents said their workforce has increased since moving to the innovation campus, with more than half of respondents saying they have increased staff as a result of campus collaboration. Similarly, nearly two-thirds of companies surveyed said their revenue or sales had increased since they moved to the campus here east. All tenants (99%) surveyed by Oxford Economics worked with another company on the Here East campus, improving knowledge sharing and upskilling employees.
Oxford Economics results beat expectations: Current productivity, employment, and contributions to total value added beat expectations made by Oxford Economics in a 2012 report of the original Here East presentation.
Alongside this new data, Here East is releasing an Impact Report today, recognizing ten years of innovation and collaboration. To celebrate its 10th anniversary, the report analyzes the impact on the region and reports on the people who work and study on campus.
East East CEO Gavin Poole said: “Over the past decade, Here East has cemented its position as a leading campus for innovation in the technology and creative industries. A place where companies can collaborate and expand, and a place where new innovative ideas can thrive and become a reality.”
These findings show the tangible impact of creating a space for innovation that brings together the best and brightest technology companies, and how that translates into economic growth, jobs, and transformation. We are pleased to deliver more than we promised, and if the first 10 years exceed expectations, we can rest assured that we will continue to do so in the next decade and beyond.”
around here east
A catalyst for growth, Here East is London’s fastest growing technology and innovation hub. Located in London’s Queen Elizabeth Olympic Park, it is an innovation hub and home to global technology companies, startups, academic institutions, content developers and creative companies. Today, 5,400 people work and study there.
The 111,483-square-foot campus provides a unique environment that allows tenants to collaborate, expand and grow rapidly. Tenants say the collaborative environment has accelerated their ability to grow their workforce, increase revenue, and expand their offerings.
Here in the East there are three of the capital’s fastest growing clusters: esports, cybersecurity and creative industries. The campus is home to 37 organizations including: Plexal (The Center for Innovation and Consulting Here East), Fiit.tv, Sports Interactive, Esports Engine, Electronic Arts, Ford Smart Mobility, Studio Wayne McGregor, MATCHESFASHION, The Trampery on the Gantry, which offers 21 studios for local artists and designers.
Here East is owned by clients of Delancey, a real estate investment advisory firm.
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