The leader of Barking and Dagenham council, Cllr Darren Rodwell, has welcomed plans to relocate Billingsgate and Smithfield wholesale markets to a purpose-built site in Dagenham Dock.

Cllr Rodwell’s comments were made in response to an announcement that the City of London Corporation’s principle decision-making body, the Court of Common Council, had voted to deposit a Private Bill in Parliament to relocate Billingsgate and Smithfield wholesale markets.

The City Corporation will invest nearly £1bn directly into Barking and Dagenham to regenerate 42 acres of industrial land into a modern, sustainable wholesale food market.

The new market will bring an estimated 2,700 new jobs to the borough and support 7,850 jobs across the UK – an increase of 1,140 (17%) on the jobs supported by Billingsgate and Smithfield currently.

‘I’m delighted we’ve reached this next milestone for the relocation of the world-famous wholesale markets to the borough. Our plans also include the development of a world food school in Barking Town Centre, in partnership with Barking and Dagenham College,’ said Cllr Rodwell.

‘I’m also excited by the plans we are working on with stakeholders for a new Good Food Economy Partnership to unlock the full opportunities from the food sector for local residents, businesses and our young people. These markets’ relocation will cement Barking and Dagenham as a destination for food and beverage. London is moving east, delivering huge opportunities, like this, for new jobs and hundreds of millions of pounds of investment into the local economy.’

Chairman of the City Corporation’s Policy and Resources Committee, Chris Hayward, said: ‘This is a major milestone in an ambitious programme with economic growth at its heart – something our country so clearly needs.

‘Our investment in delivering modern, environmentally sustainable wholesale markets in Barking and Dagenham will boost the economy across east London, supporting jobs, skills and training.’