Renaisi was commissioned in 1998, by Gateway to London and the London Borough of Hackney to manage ‘Invest in Hackney’ – the borough’s inward investment agency. Since then, this free service has significantly contributed to the viability of Hackney as a business destination. Hackney is predominantly a micro-economy, and therefore much of Invest in Hackney’s work has been aimed at supporting start-ups and SMEs and to date, the service has worked with over 2000 entrepreneurs. However, more recently Invest in Hackney has seen increased interest from larger companies as Hackney’s reputation as a business destination has improved. While the agency encourages and supports investment from these larger organisations, it is keen to protect entrepreneurialism in Hackney and work with the indigenous business base.
From 2006 – 2009 alone, over 800 jobs have been created or sustained through Invest in Hackney’s activity. Many of these jobs have been accessed by Hackney residents. As a result, Invest in Hackney is recognised as a top performing agency in the Thames Gateway region.
Invest in Hackney’s approach
Invest in Hackney believes that inward investment has been an under-utilised tool within Local Authority economic policy agenda’s.
It’s approach is centred on the need to attract investment that contributes to a Local Authority’s vision of place and its wider economic development objectives. Invest in Hackney believes that an integrated and strategic approach to inward investment is essential to ensure that the benefits of economic growth at a regional level can filter down to a neighbourhood level.
In recent years, the agency’s work has become increasingly aligned with the local worklessness agenda. Invest in Hackney have added value to this agenda by instigating partnerships between Local Authorities, employment agencies, further education institutions and employers. All businesses the agency work with are put in contact with local employment programmes, and as a result the foundations have been laid for the provision of work/training placements within 10 companies in Hackney in the last 3 months alone. Invest in Hackney is also well placed to broker Section 106 agreements that include local job guarantee schemes.
For more information on Invest in Hackney click here.