Ten years after London 2012, new data proves positive impact of Queen Elizabeth Olympic Park innovation campus, Here East

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Oxford Economic data shows Here East has outperformed every metric in original bid document.

Campus now has a community of 5,400, and has supported more than 10,000 jobs across the UK, and over 5,000 in neighbouring local boroughs

Data shows that Here East contributed £700m in gross value added (GVA) to the UK economy in 2021

LONDON, July 20, 2022 /PRNewswire/ -- New data published today shows the scale and impact of London's tech and innovation campus, Here East. The data highlights how Delancey's award-winning campus has impacted the local and national economy, created jobs, and supported education and enterprise development – ten years after it was established as a significant part of the London 2012 Olympic and Paralympic Games legacy. 

Here East won the bid in 2012 to transform the International Press and Broadcast centre on The Park – a significant piece of infrastructure used in the London 2012 Games – into a home for global technology companies, start-ups, academic institutions and creative businesses. It is now home to 5,400 people – 3,800 who work for businesses on site and 1,600 who study – all of whom are regularly based on campus.

The independent data from Oxford Economics reveals that in 2021, Here East's activities supported close to 10,300 jobs across the UK, sustaining £317 million in wages and contributing £700 million in GVA towards GDP.

The data shows Here East's impact on local communities and surrounding boroughs, revealing that a significant proportion (15%) of Here East's UK based procurement is retained within the local area, creating jobs – nearly a quarter of Here East's employees live locally – and powering local supply chains.

The 37 organisations based at the Here East campus, which range from BT Sport and FiiT to UCL and Loughborough University London, have reported positive outcomes for productivity, with the collaborative environment cited as a boost to their ability to grow their employee base, increase revenue and expand their offering. 

According to the survey data, over three quarters of respondents reported that the size of their workforce had expanded since being based at the innovation campus – with over half reporting that they had increased employment due to collaboration on campus. Similarly, nearly two thirds of business respondents reported that since moving into the Here East campus, their turnover or sales have grown. Almost all (99%) of tenants surveyed by Oxford Economics had collaborated with another business on the Here East campus, leading to improved knowledge sharing and the upskilling of employees. 

The findings by Oxford Economics surpass expectations, with the current productivity, employment and GVA contributions exceeding the forecasts made by Oxford Economics in a 2012 report for the original Here East bid. 

Alongside this new data, Here East today publishes its Impact Report, which commemorates ten years of innovation and collaboration. The report analyses the impact on the local area and shares stories from people who work and study on campus to mark the tenth anniversary. 

Gavin Poole, CEO of Here East said: "Over the last ten years Here East has cemented its position as a leading innovation campus for the tech and creative industries; a space for businesses to collaborate and expand; and a place for new innovative ideas to flourish and become a reality. 

These findings demonstrate the tangible impact of cultivating a space for innovation, bringing together the best and brightest technology businesses, and how this translates into economic growth, job opportunities and transformation. We are delighted that we have delivered more than what we promised, and if our first 10 years has exceeded expectations, then we can be certain this will continue for the next decade and beyond."

About Here East

Here East is a catalyst for growth and London's fastest growing technology and innovation campus. Located on Queen Elizabeth Olympic Park in London, it is a launchpad for innovation and home to global technology companies, start-ups, academic institutions, content developers and creative businesses. It is now home to 5,400 people who work and study onsite.

The 1.2 million sq ft campus fosters a unique environment allowing tenants to collaborate, scale and grow at pace. Tenants say that the collaborative environment has accelerated their ability to grow their employee base, increase their revenue and expand their offering.

Here East is home to three of the fastest growing clusters in the capital: esports, cybersecurity and the creative industries. There are 37 organisations based on the campus, these include: Plexal (Here East's innovation and consulting centre), Fiit.tv, Sports Interactive, Esports Engine, Electronic Arts, Ford Smart Mobility, Studio Wayne McGregor, MATCHESFASHION and The Trampery on the Gantry, which provides 21 studios for local artists and designers.

Here East is owned by clients of Delancey, a specialist real estate investment advisory company.

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SOURCE Here East