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Local Strategies to Grow the Suburban and Regional Service Sector Economy
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Transcript of Local Strategies to Grow the Suburban and Regional Service Sector Economy
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Local Strategies to Grow the Suburban and Regional Service Sector Economy
Presented by Robert Hall
Economic Consultant
September 2015
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↑Services = ↑ Face to Face Contact =
↑ ↑ Importance of Place
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Employment is Concentrating into Cities
89% of job growth was accommodated in Capital Cities between 2011-2014 (Source: NIEIR)
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What does this mean for our suburban and regional employment precincts?
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Many employment locations are not well positioned to take advantage
Historical role and function – not about services, skills, agglomeration
Need to reposition our places. But what does the service sector value?
Colliers Tenant Survey (2012): How important are attributes in terms of attracting and retaining staff?
– Public transport: 76% consider this important
– Service-Related Amenity: 51% consider this important
– Accessibility / Central Location: 51% consider this important
Let’s look at some successful examples
Highlights the importance of Place / location attributes
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A little friendly competition. Where am I?
The game:
Name the suburban/regional employment precinct based on a series of photos.
Hands up if you know the location
First in with the right answer wins a prize.
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Example 1. The Second CBD – Parramatta, Parramatta LGA, Sydney
Parramatta, Sydney Parramatta CBD (2011)
HEADLINE INDICATORS
Value Added: $5.4 billion
Jobs: 37,472
Worker productivity: $145,000 per
worker
JOB PROFILE
14,000 Business Services
11,300 Govt.
2,700 Retail
2,200 Health
Very high labour productivity
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Example 2. Middle Ring Employment Cluster –Notting Hill, Monash LGA, Melbourne
Monash, Melbourne Monash- Clayton (2011)
HEADLINE INDICATORS
Value Added: $3.7 billion
Jobs: 37,690
Worker Productivity: $98,169
per worker
JOB PROFILE
6,900 Business Services
5,800 Health
5,600 Education
5,160 Manufacturing
5,100 Wholesale
Major Economic Anchors to support service sector growth
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Example 3. Business Parks – Norwest, The Hills LGA, Sydney
Norwest Business Park (2011)
HEADLINE INDICATORS
Value Added: $1.9 billion
Jobs: 17,590
Productivity: $108,000 per worker
JOB PROFILE
4,180 Business Services
3,949 Retail
2,600 Manufacturing
1,806 Health
High amenity location + Attracted Major Brands
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Economic Development Opportunities
Using place to take advantage of services, higher skills, ideas and agglomeration
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1. Spatial Strategies to Encourage Service Sector Density
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2. Cluster Led Development
Anchors are a major economic driver in suburban and regional economies
WestmeadHospital
HEALTHCARE
Monash University
HIGHER EDUCATION
Brisbane West WellcampAirport
GATEWAYS
Bendigo Art Gallery and Theatre
CULTURAL
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2. Cluster Led Development
HEALTHCARE Key Roles:Major purchaser of goods and services
Workforce / skills / research
Community development
Mixed Use Precinct – Health as the Anchor:Deepen Health Offer
Accommodation / Conferencing
Aged Care/ Retirement
Office (health + non-health)
Retail, Cafes & Restaurants
Food services / food catering
Education and Research links
Amenities – child care, gyms, library, recreation
Hospitals spend over $55 billion each year and employ 350,000 people
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3. Positioning places to take advantage of the opportunities
Amenity
Recreation
Public transport
Accessibility
Planning controls
Need to unlock the potential to take advantage
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4. Know your place – information is power
What are the dominant industries?
What are the growth industries?
Which industries are the biggest exporters?
Which industries have a specialization / over representation?
Who are the key businesses / anchors?
What are the gaps?
Building the business case for investment / grants
There is no substitute for rigorous and transparent economic analysis
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5. Don’t forget about housing…
Kelly, J-F., Donegan, P., Chisholm, C., Oberklaid, M., 2014, Mapping Australia’s Economy: Cities as engines of prosperity, Grattan Institute
There is a risk that escalating house prices will reduce the labour force pool available
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Time to Embrace the Importance of Place
Economic Importance of Place: Services skills, ideas, agglomeration
Health & Education as major economic drivers
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