Council has released its first Economic Development Strategy (Business on the Beaches) to grow and support businesses across the whole of the Northern Beaches.
Northern Beaches Mayor Michael Regan said the draft strategy recognises the unique nature of our local economy, and challenges and opportunities over the next 10 years.
“Our vision is for a more diverse, innovative, vibrant and green economy. A local economy that is sustainable, both in an economic and an environmental sense,” Mayor Regan said.
“We love our local businesses and want to support them now and into the future. This economic development strategy identifies the challenges our economy faces, the opportunities available and sets out our aspirations for the next decade.
“The Northern Beaches is home to so many highly skilled and talented people, who could contribute significantly to our local economy if we can create new employment opportunities in our local area.
“Our draft economic development strategy sets out key opportunities and the actions we can take now and into the future to grow and support our vibrant local economy.”
The draft strategy was prepared by specialist economic development firm NDP Economic Development with the assistance of Council staff and follows a thorough analysis of the current economic climate and consultation with the Northern Beaches community.
Major opportunities identified could include:
- Innovation – new spaces or hubs to attract knowledge-based businesses and workers that align with the skills and aspirations of workers
- Entrepreneurship – with some of the most talented professionals in Sydney and higher levels of home-based businesses, a focus on start-ups could grow the culture of entrepreneurship through information sharing, promotion and networking opportunities
- Town centres – we can welcome back business and tourism through a combination of promotion, events and public domain improvements
- Cultural and creative industry – the Northern Beaches is home to the largest concentration of cultural and creative businesses outside the Sydney CBD, offering scope for further growth by establishing creative hubs
- Green economy – with local consumers wanting sustainable products and a high proportion of residents having the skills that could support a green economy, there is potential to explore and promote emerging investment opportunities in this sector.
Key challenges identified in the plan include:
- Traffic congestion – slow transport for staff, customers and suppliers can reduce business profits
- No major CBD – it is harder to attract major corporates and provide jobs that match residents’ skills without a significant CBD
- Lower paid roles – the absence of international students and working travellers, as well as rising housing costs that force many key workers to live outside the LGA has limited the pool of workers for entry level roles
- Industrial and warehousing areas – these areas must be protected as they allow for existing and emerging industries that support the ongoing performance and functionality of the Northern Beaches economy.
Among the many actions set out in the draft strategy are plans to revitalise employment areas -including the recently announced revised draft Brookvale Structure Plan. Council will also enhance existing industrial zoned areas and look at ways to support innovation and emerging industries.
Investment in affordable housing will help attract and retain a broad range of essential workers and advocating for better public transport connections will support logistics and help attract employees.
Council’s business support service will be expanded and a Northern Beaches Business Advisory Forum could also be established, comprised of key local businesses.
The draft economic development strategy is underpinned by independent technical reports, employment studies and extensive consultation with the business community.
Business on the Beaches will be on public exhibition on Your Say until 26 March 2023.
