The Economic Development Directions Paper 2017 identifies six overarching themes to guide the City’s economic development activities within the below strategic focus areas and industries:
- Playing to our natural strengths.
- A diversified economy.
- A clustered development approach.
- Responsive to new and emerging opportunities.
- Globally connected.
- A positive, unified narrative and approach developed with key stakeholders.
Open data and economic research
Open data plays a significant role in creating smarter and more sustainable cities by improving communication between government and the community. Open data provides benefit through the development of new and customised products and services designed to target the needs of businesses, government agencies and the community.
The City places a strategic focus on the provision and access of data, research and information relating to Perth’s key industry sectors, as well as undertaking value-added analysis in consultation with relevant agencies and stakeholders.
Economic research assists in promoting the City’s unique specialisations and value propositions, and provides a quality evidence base to support its decision making.
Examples of tools the City utilises for it decision making include Perth’s Economy Profile by Remplan, and its Community Profile and Population Forecast provided by Informed Decisions. The City also provides these profiles for stakeholder use and information, as well as research reports either commissioned or undertaken directly by the City.
The City of Perth works closely with stakeholders to deliver projects which improve the performance, profile and reputation of City precincts, built form and public open space.
Place development requires extensive work with internal and external City stakeholders, private developers and property owners, and can include assessment of place plans and activation infrastructure, activation of underutilised spaces, and place based assessments of future development sites.
Following on from the successful Barrack Street Improvement Model which ran from 2015-2017, the City of Perth has expanded this methodology and approach to the East End which will see centralisation of a range of grants and services to this area including City safety programs, Heritage, Small Business and specific East End Business Improvement grants.
The City also undertakes a yearly matched funded Business Improvement Grant Program which is available across the City in a competitive round process commencing in April each year. This program assists in activating under-utilised spaces, improving business interface with the public realm, enhances precinct vibrancy through streetscape improvement and new business fit outs.
With 1.8m sqm of commercial floor space within the Perth CBD, the City works closely with the property industry to support investment attraction and the activation of vacant and under-utilised properties within the city.
This portfolio will support the development of Perth as a premier business destination and will focus on growing opportunities within the City of Perth office, retail and residential property markets. This strategic focus area will promote and enhance opportunities for residential development and increased population density within the City.
Examples of this support includes the C Grade Case Office Study which explored options for adaptive reuse within the City’s C Grade office stock.
Innovation knowledge and creative industry
The City of Perth is focused on the growth and development of the technological, innovation and entrepreneurial sector within Perth. A key aspect of support for this area involves the encouragement of clustering, collaboration and coordination across industry sectors. The current level of development occurring within the creative and technology industries will continue in line with new and emerging opportunities within these sectors.
The City recognises that continued growth of this sector is important to the city’s economic diversity and will help position Perth as a centre of knowledge and innovation excellence. The development of the knowledge-based economy, globalisation and international competitive pressures have increased the importance of creativity and innovation in local economies.
Perth is home to a number of shared working spaces, including serviced offices and co-working spaces. These spaces provide their users with spaces to work, collaborate, and receive mentoring and advice to help grow their businesses.
The City of Perth also provides support and sponsorship for a broad range of innovation based programs, including TEDxPerth, Unearthed, Startup Weekend, Founder Institute and the West Tech Fest.
See invest.perth.wa.gov.au for further information
Tourism hospitality and accommodation
Perth is the western gateway to Australia from Europe and Asia and the City of Perth works to foster an environment in which tourism can flourish.
The City undertakes regular engagement with the tourism industry and supports and collaborates with key local agencies and organisations. The City works cooperatively with stakeholders such as Tourism WA, Tourism Council WA, Forum Advocating Cultural and Eco Tourism (FACET) along with the Australian Hoteliers Association and provides strong financial and operational support for the Perth Convention Bureau to advance tourism in the city.
In addition, the City collaborates with associated tourism sub-sectors such as food and beverage, accommodation and active leisure to leverage additional tourism outcomes.
Resources and energy
Western Australia is blessed with an extraordinary natural endowment of minerals and energy resources, and Perth has established itself as a global energy city. We are the resource and energy capital of the Indo-Pacific Region. Today, the city is home to many international resource and energy companies, with eight of the world’s 14 largest international energy companies having offices in Perth. These include ExxonMobil, Shell, Kuwait Petroleum Corporation, BP, ENI, Chevron, PTTEP, JX Holdings, Statoil and ConocoPhillips. Australia’s largest homegrown oil and gas company, Woodside has its corporate headquarters in Perth and will soon move into new purpose-built quarters.
Perth is the only Australian member of the World Energy Cities Partnership, which promotes the exchange of industry knowledge and economic development expertise and strategies between its 19-member cities.
“Member cities of the World Energy Cities Partnership (WECP) were brought together by the belief that a common pattern of development around the energy sector could create unique opportunities for collaboration in economic development. Our members know that energy is more than just an industry: it is an essential aspect of modern development, sustaining the ever-growing movement of people and commodities throughout the world, supporting millions of jobs and funding the scientists, educators, and engineers who continuously push the boundaries of innovation.” Mike Savage – President of the WECP and Mayor of the City of Halifax.
Minerals and petroleum accounted for 92 per cent ($113.3b) of merchandise exports in 2017, with iron ore alone worth $62.9 billion. The state is also rated the fifth most attractive mining investment destination in the world. In March 2018, Western Australia had $53 billion of major resource projects under construction or committed and $50 billion under consideration. Major expansion projects in LNG and iron ore are now reaching completion.
(Source information from Government of Western Australia).
Education and Vocational Educational Training (VET)
Working with major stakeholders, the City of Perth assists in the promotion of Perth as a world class education and training destination. The City seeks economic opportunities in the education sector such as purpose-built student accommodation, inner city schooling, tertiary and VET facility relocation, and assisting in the commercialisation of academic and education outputs.
The City also works with key stakeholders to promote Perth as a destination of choice for international student education and undertake initiatives to increase international education market share. The City is a major sponsor of StudyPerth who promote Perth to education agents and prospective students.
Medical Health and Life Sciences
The medical life sciences sector in Perth houses world-class academic and commercial institutions including:
- QEII Medical Centre
- Sir Charles Gairdner Hospital
- Perth Children’s Hospital
- Harry Perkins Institute for Medical research
In addition, Perth hosts more than 40 established medical and life science organisations forming the nucleus of Perth’s life sciences eco-system.
The City will leverage these assets through developing international connections and strategies to enhance local collaboration, attract enhanced investment and create access to larger opportunities.
The City will also focus on growing research opportunities through working with Universities and medical research institutions.