Economic Development Strategy
The City of Sydney is a critical part of the largest urban economy in Australia and Australia’s only global city. In successful global cities, prosperity is driven to a large extent by links with the global economy, associated with continuous flows of capital, goods and services, people and ideas. Sydney’s key strengths are its large economic base including a dense network of globally competitive industries, well developed infrastructure, good governance, and outstanding amenities and living environment. In addition to its global and national role, the City is also home to 180,000 residents (June 2010). On an average day, around 1 million are in the City as workers, residents or visitors.
The global economy reinforces the importance of local “place” where firms cluster, jobs are located, infrastructure facilities and networks are concentrated and where people visit and live. In this context, the role of local government has become much more significant in economic development. The Council emphasises the importance of the City of Villages, a network of villages surrounding the global centre. These villages are the centrepiece of Sydney as a sustainable and liveable city. The Council wants to ensure that all residents share in the benefits of Sydney as a global city. Sydney’s high quality living environment around the villages and natural environment enhances Sydney’s competitiveness by attracting more visitors and people who want to live and work in the city.
In September 2007, council adopted an Economic Development Framework was for the City as the basis for further development of an Economic Development Strategy. The Framework focuses on the issues that will underlie strategies for economic development across the City, analysis of the elements of the urban economy and factors driving change, the role of the Council in economic development and draft principles, goals and strategic directions. Throughout 2007 and 2008, information from the Economic Development Framework was also used to inform Sustainable Sydney 2030.
The City is now preparing an Economic Development Strategy that aligns with Sustainable Sydney 2030 in 2011/12. The Strategy will provide input into the Council’s strategic planning processes and guide economic development initiatives. The Economic Development Strategy will build on the directions already set by the Economic Development Framework and Sustainable Sydney 2030.
The Economic Development Strategy will build on and develop the Framework’s draft strategic directions. The six broad strategic themes proposed in the Framework are:
- Strengthen business competitiveness;
- Investing in communities and people;
- National and global cities agenda;
- A sustainable city
- Nurture social capital; and
- Marketing the City.
The Strategy & Economic Development Unit is currently investigating actions for specific industry sectors where Council can add value as part of the development of the Economic Development Strategy. The first of these sectors include;
- Creative Industries
- Education
- Retailing
- Tourism
Download
- Economic Development Framework | PDF 820Kb
Strategy Manager
Economic Development Unit
Tel: +61 2 9265 9333
