The plans for a major regeneration programme, will see London’s historic wholesale markets relocated to a purpose-built site in Dagenham Dock, bringing thousands of jobs to the area.
The City Corporation will invest nearly one billion pounds directly into Barking and Dagenham to regenerate 42 acres of industrial land into a modern, sustainable wholesale food market, stimulating the local economy and ensuring resilience in the food supply of London and the southeast.
The new market will bring an estimated 2,700 new jobs to the borough and support 7,850 jobs across the UK – an increase of 1,140 (or 17%) on the jobs supported by Billingsgate and Smithfield currently.
The move will unlock exciting opportunities working with partners from the food sector, which will provide tailored training opportunities, jobs and apprenticeships in this area. Residents, local businesses and young people of the borough will all benefit from these opportunities alongside an improved and healthy food offer.
Leader of Barking and Dagenham Council, Cllr Darren Rodwell, said: “I’m delighted we’ve reached this next milestone for the relocation of the world-famous wholesale markets to the borough. Our plans also include the development of a world food school in Barking Town Centre, in partnership with Barking and Dagenham College.
"I’m also excited by the plans we are working on with stakeholders for a new Good Food Economy Partnership to unlock the full opportunities from the food sector for local residents, businesses and our young people. This markets relocation will cement Barking and Dagenham as a destination for food and beverage. London is moving east, delivering huge opportunities, like this, for new jobs and hundreds of millions of pounds of investment into the local economy.”
Acting Chief Executive of Barking and Dagenham Council, Fiona Taylor said: “This is fantastic news for our residents and the borough as a whole. Relocation of the markets will provide jobs, training and investment for many years to come. We’re really excited to be working with the City of London Corporation on this project, as it demonstrates our commitment to getting the most for our residents and local business in growing our borough. Barking and Dagenham is open for business, and we can’t wait to welcome the Markets to east London.”
Deputy Director of Development at Be First, David Harley said:
“Barking and Dagenham’s growth sectors for the future include film/creative industries and food and Be First has been unlocking the potential of these sectors in the Borough. Today marks an important milestone for generating opportunities from the food sector with the submission of the Private Bill to relocate the markets to Dagenham Dock. The markets will have transformational impact on the local economy and deliver a wide range of benefits for local residents and businesses which we’ll work with the council to maximise.”
Chairman of the City Corporation’s Policy and Resources Committee, Chris Hayward said: “This is a major milestone in an ambitious programme with economic growth at its heart – something our country so clearly needs.
“Our investment in delivering modern, environmentally sustainable wholesale markets in Barking and Dagenham will boost the economy across east London, supporting jobs, skills and training.”