Establishing a Growth Zone

The Assignment

Croydon has ambitious growth plans. Over a five-year period, they will deliver a £5.25bn regeneration programme. The scale of growth planned is the equivalent to that of Ebbsfleet New Town, yet in half the time.

Croydon had estimated the finance required to drive and enable change and estimated that they needed to contribute £309m to the programme.

The Role

We were asked to assess the predicted growth in Business Rates to the Council flowing from their investment and to support the Council in its negotiations with Central Government (Treasury, the GLA and ministers) in establishing a Growth Zone.

We provided a bespoke flexible financial model which was designed so that the Council could assess the financial impact of a series of risk scenarios.

Key Outcomes

Croydon secured £7m in funding from Government to set up the Growth Zone which was established in April 2018.

£309m

investment

£5.25bn

regeneration

5

years for implementation