Urban Economic Development
With over 70% of Australians living in cities, we’re a highly urbanised people. Cities connect us to one another and the world.
You need to know how to become more globally relevant and competitive. You need inclusive development strategies that draw in investors and develop specialist skills, while nurturing innovation and new start-ups.
Whether you’re in the CBD or its surrounding suburbs, you need to keep ahead of the global competition. The future of your city is tied to its place in the world and its ability to bring everyone with it.
Success comes in many forms, but includes the demand for a vibrant day and night-time economy, an innovative business community with energetic start-ups and firm cluster networks, world-class schools, colleges and universities connected to local employers and industry, robust communications, transport and logistics infrastructure, and a commitment to inclusion and participation.
Tools and resources
Some of the common tools and guidance required by urban economies include:
- Assess your global competitiveness
- Improve your local business enabling environment
- Create platforms for regular public-private dialogue
- Support your local town teams
- Boost your night-time economy
- Promote participation and citizen engagement
- Identify your strategic competencies
- Identify industry agglomerations
- Promote collaboration across public, private and civic organisations
- Transition to low-carbon technologies
- Adopt progressive procurement processes
- Assess the innovation/entrepreneurial ecosystem