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Economy and employment

 

Traditional industries

Traditionally, industry in Greenwich has been associated with the docks, energy production (gas), the military, rope production and other manufacturing industries. The Royal Arsenal alone employed 80,000 people during the First World War - that was one person for every household today in the borough.

Decline and recession

Greenwich suffered badly from the long-term national decline in the traditional manufacturing industries and the closure of many of the borough's largest employers. In the last recession, the number of jobs in the borough fell by 17 per cent.

Rising employment

Here are some of the borough's recent achievements:

  • Greenwich Local Labour and Business (GLLaB) has assisted more than 7,000 people into work since its inception in 1996, 44 per cent of whom were from minority communities.
  • Major developments in the borough have helped create 2,933 jobs.
  • Over 350,000 people have visited the borough's Tourist Information centre.
  • Unemployment has dropped to within 1 per cent of the London average.
See our most recent employment figures for more information.

An important objective for Greenwich's economic regeneration is to maximise local employment and business benefits by developing key sites in the borough and across the Thames Gateway.

Massive public and private investment has helped to improve the borough's infrastructure. This has made Greenwich a more viable and attractive location for businesses.

The Council has given high priority to working with new and local businesses to capture the benefits of regeneration for the Greenwich economy.

As a result, the Council has received Beacon Council status for removing barriers to work. It was also shortlisted for the Beacon Council award in the 'supporting new businesses' category.

Further information

  • There are about 5,000 businesses in Greenwich
  • 85 per cent of firms in the borough employ less than 10 people
  • 92 per cent of firms in the borough employ less than 25 people
  • The public sector provides almost a third of jobs in Greenwich.

GLLaB's role

Greenwich Local Labour and Business (GLLaB) is a partnership designed to maximise employment opportunities for local people. Established in 1996, GLLaB also helps secure opportunities for local businesses.

Working in partnership with Greenwich Council, employers, regeneration agencies, community groups and training providers, GLLaB’s achievements to date include:

  • Placed over 7,000 people in work
  • Trained over 5,500 people
  • Currently has 170 local residents on paid work experience
  • Helped 270 local companies secure contracts worth £20m.

Regeneration – creating jobs across the borough

Greenwich is currently undergoing an extensive regeneration process. Areas such as the Royal Arsenal, Old Royal Naval College, Greenwich Reach, Greenwich Peninsula and numerous other major areas are all under development.

This process will create an estimated 25,000 new jobs in leisure, tourism, retail, manufacturing, hospitality, IT, the service sector and construction over the next five years.

For further information

A to Z of Services

Council & democracy

About Greenwich