Your say on our new economic development strategy
Project Status: Under review
Contributions to this consultation are closed for evaluation and review. The project team will report back on key outcomes.
Public consultation period to
Why we’re doing this
We’ve developed a new economic development strategy that outlines our plans to ensure sustainable and inclusive economic growth in our area for the next 10 years.
The focus of the strategy is on the economic activity that occurs within the 26km² that make up the City of Sydney local area. This area generates more than $142 billion in economic output each year, representing 6% of Australia’s gross regional product.
This local economy has impact and influence well beyond its boundaries, and it has recovered strongly from major economic impacts caused by the pandemic.
The strategy was informed by feedback received from our community on the discussion paper in late 2022.
Business perspectives: the big ideas shaping our economic future.
Our new economic development strategy is the result of a unique collaboration with key business leaders from around Sydney. Hear from 4 key members of our Business Advisory Panel as they outline the big ideas in this strategy that will drive our economic growth into the future.
What we're doing
Our proposed economic development strategy will focus on innovation-led growth that is sustainable, inclusive and provides great local experiences.
We’re targeting 200,000 new jobs in our city by 2036 with most of these in the knowledge and innovation intensive industries.
We’re investing in public works that support economic growth. This includes a new light rail corridor along Parramatta Road to Green Square that will unlock housing, jobs and investment. At the high street level, we’re building strong local neighbourhoods that help tell the story of Sydney to the world.
Our strategy focuses on collaboration to build a more sustainable, fairer and more innovative economy for everyone. It seeks to make the Sydney economy stronger and address underlying vulnerabilities to its ongoing success, including:
- Climate change, which threatens key sectors like tourism but also presents an economic opportunity if Sydney positions itself as a global hub for net zero innovation.
- Rising inequality, and particularly affordability issues, have the potential to hold back our economy and erode our society’s sense of fairness and opportunity.
- Slowing productivity and an uncoordinated approach to innovation that are leading to lower levels of research commercialisation and impacting Sydney’s attractiveness to talent and investment.
- Broader economic headwinds and uncertainty in how our city is used in the post-pandemic world, presenting both challenges and new opportunities to evolve and grow our city.
Let us know your ideas for how we can continue to support our city economy.
Economic development strategy 2025–2035 (draft)PDF · 21.26 MB · Last modified
Easy Read versionPDF · 2.72 MB · Last modified
Next steps
We’ll consider all feedback and report the results to Council before the strategy is finalised and endorsed.
How you can give feedback
Consultation closes at 5pm on Friday 27 September 2024.
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Complete our feedback form
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Email or post your feedback
You can give your feedback by email to [email protected] or post to:
Craig Ryan
Senior Project Manager
City Engagement
City of Sydney
GPO Box 1591
Sydney NSW 2001
Feedback may be published in publicly available reports at the end of the consultation period. Your name or organisation’s name may appear in these reports with your feedback attributed. If you would like your feedback to be kept confidential, please let us know when making your contribution.
