A trading company which has helped keep council tax low, built dozens of affordable homes and brought us the glory of Foodie Fridays, is celebrating 10 years of operation.

East Cambs Trading Company was set up by East Cambridgeshire District Council in 2016 primarily to help drive revenue to support the council with balancing its budget, improve services and build new homes.

The trading company runs Ely Markets, the Parks and Open Spaces team and Palace Green Homes, which builds new and affordable homes.

By operating as a commercial entity, they’ve benefited the council by £6.27 million in revenue, helping it to stay debt free and avoid the need to increase Council Tax for the last 13 years.

It also puts the council in the position of having a healthy 10% of its budget in reserves.

Award-winning Palace Green Homes has delivered 190 new homes in the district, 55 of which are affordable homes that enable people to live and work locally.

The company is currently working with Homes England and Havebury Housing Partnership, a not-for-profit affordable housing and social housing association, to ensure all 27 new properties at Arbour Square in Ely will be affordable.

Ely Markets has also contributed positively to the district. While many traditional markets have seen a decline in shopper numbers and stall occupancy, Ely Markets with its vibrant Foodie Fridays, farmers’ market and artisan stalls has bucked this trend and now has over 250 registered traders.

The Parks and Open Spaces team, meanwhile, work tirelessly to care for our parks and open spaces in a way that benefits nature, and consistently secures Green Flag status for Jubilee Gardens and the Country Park in Ely.

Cllr Anna Bailey, Leader of East Cambridgeshire District Council, said: "10 years ago the council took a brave decision and decided to launch its own trading company to generate new income for the council and to help deliver for the people of East Cambridgeshire.

“I’m delighted to say this ‘commercial for community’ approach has paid off. 
“Not only has East Cambs Trading Company been able to make financial contributions to the council, it has also brought many positive changes to people’s lives.

“Ely Markets supports local businesses, Palace Green Homes provides commercial and affordable homes for residents and the Parks and Open Spaces team support our open spaces and our wildlife.

“We are really fortunate to have a great team of people, who really care for the district, and I want to say a huge thank you for all their support and hard work over the years.”