The Millfields Community Economic Development Trust (Millfields Trust) has been set up to enable local people to contribute and manage the regeneration of the Stonehouse neighbourhood in Plymouth. Our core business is rental of commercial premises across two sites in the Stonehouse neighbourhood. In total we are responsible for over 100 business premises, ranging in size from 120 to 1500 square feet.

In the spring of 2000, we took responsibility for three buildings on the site of the former Naval Hospital, now called The Millfields. Within 15 months we achieved a 100% occupation level, having let all premises. As a result of this success the Millfields Trust was asked to manage the former Jaeger clothing factory in Union Street, now called the HQ Business Centre. This offers a further 43 business premises suitable for small to medium sized businesses. Stonely Court, The Millfields, is our latest development and the building of our own freehold asset. Completed in the summer of 2007 the building offers a further 10,000 square feet of commercial space to the Millfields Trust's portfolio.

In particular the Millfields Trust provides a platform to enable small and medium sized business to grow and develop. A package of measures including, high quality affordable accommodation, flexible tenancy terms and adding value to the tenancy are used to attract and support business. In return companies employ local people, purchase in the local community and provide goods and services. The Millfields Trust currently has 68 resident tenants, from high tech design to small-scale manufacturing. In total they employ in excess of 250 people, providing a "home" to approximately 14% of the businesses in Stonehouse.

Employment is one of the key factors in revitalising a community and improving its long-term prospects. The Millfields Trust is contributing to the regeneration of the Stonehouse neighbourhood and the city by focusing on job creation and the development of business.