News archive

Woking Borough Council is now two years into delivering its five-year Economic Development Plan, and the good news is that the economy is growing apace as Woking contributes to the national economic recovery.

For those who pay particular attention to the state of the economy, both locally and nationally, the news appears positive throughout. With unemployment falling and businesses' confidence rising.

Across Woking, the unemployment claimant count has decreased in every one of its wards over the last year, now totalling 1.1% (705 individuals). Youth unemployment (16-24 year olds) has also dropped, to 1.3% or 110 individuals, supported through increasing numbers of apprentices honing their skills with more local employers.

The take up of office and industrial space has also increased and there have been some significant deals in terms of retail in Woking Town Centre. Furthermore, Woking's visitor numbers have increased significantly with an estimated 10% increase in the value of overnight trips and a whopping 27% increase in day trips (Cambridge Model Tourism Statistics 2012).

Most notably, some 1500 jobs are known to have been safeguarded or newly located within the area, partly due to the Council's business engagement and efforts to attract new businesses to the area. Additionally, 156 Woking-based start-up businesses have been engaged and supported through the Council's Start Up Woking programme, over the last year alone. Many of these businesses have also taken space within the Connect 2 Innovation Incubator, an entrepreneurial working environment for young, innovative (and growing) businesses based in the heart of Woking's town centre.

Part of this success is down to a fair economic wind across the UK and particularly in London and the South East. However, the local approach to economic growth has also played some part. Officers recently reported to the Council's Executive on the progress of the Woking Economic Strategy for 2013-14. This highlighted the significant progress in delivering the Council's economic vision to become a premier business location and a place that increasing numbers of residents and businesses choose to locate to.

The continued investment in improvements to the town centre has been vital in underpinning this growth as Woking continues to improve as a place to live, work and visit. The re-named and redeveloped Jubilee Square is now a high quality public space used for regular events such as the Woking Food and Drink Festival. Construction of the relocated, state-of-the-art market in Peacock Walk is underway for a planned opening in the autumn. The new improved Commercial Way public realm scheme has now been completed and this has generated significant interest from new businesses including the Tante Marie Culinary Academy. The ambitious Victoria Square development with its mix of retail, hotel, apartments, parking and amenities is moving towards a planning determination later this year, as a vital element of the town centre development strategy.

Councillor Gary Elson, Portfolio Holder for Economic Development, "I am delighted with the progress made with our Economic Development Strategy since its adoption in 2012, so much has been achieved with clearly visible results and although there is still more to be done, Woking is now becoming one of the most desirable and exciting places for business to locate and people to visit.

We will continue not only to invest in the success of our town centre but will actively promote and facilitate business and development opportunities that exist within West Byfleet and other such areas within the borough as and when they arise."

The Council, with its partners, host numerous events throughout the year to support, network, and consult business, which further highlights the growing and increasingly positive business audience in the Borough. Feedback at last October's Working for Woking business event was extremely positive with:

In a competitive global economy, where local areas continue to collaborate and compete to improve their respective fortunes, members and officers have warned against complacency in the months and years ahead.

Find out more about what is on offer for local businesses and Woking's Economic Strategy, visit http://www.wokingworks.co.uk/.