Canary Wharf Group has generated £1billion for local companies
Canary Wharf Group has announced it has helped to generate over £1billion of business for local companies since 1997.
More than 1,700 firms have benefited from CWG's business support initiatives and ventures.
Most of the work has been driven by the development of the Canary Wharf estate but the development company is widening its influence with projects in the City and on the South Bank.
In 1997, after the initial phase of construction, CWG set up a Local Business Liaison Office for small and medium enterprises, helping them bid for contracts. In the 11 years between 1997 and 2008 the Local Business Liaison Office helped local companies secure over £615 million of business.
Following the success of this projects to help companies bid for contracts, CWG expanded its Local Business Liaison Office across east London establishing a joint venture called the East London Business Place (ELBP).
All these various initiatives have created business that is worth the £1billion figure.
Gay Harrington, CWG social and economic development manager and director of ELBP says: "We are delighted to have reached this significant milestone, which highlights just how important our support is to the local business community and the economy.
"We value the partnerships we have formed to ensure that our business support activities help more local companies to become fit to supply, increase their confidence, competence and success rate.
"This will create a legacy of a more competitive and sustainable business community and ultimately, a thriving economic platform for local people to secure jobs."