Building our economy

Building our economy

Long-term plan for local economy

The City’s new draft economic development strategy provides a long-term plan for strengthening the city’s economic output – currently valued at more than $100 billion per year – and supporting the 22,000 businesses and 435,000 workers that call our city home.

The draft strategy outlines three major priorities over the next 10 years:

1. Strengthening Sydney’s competitiveness: Creating a city that encourages business investment, attracts international visitors and has the lifestyle and culture residents wants.

2. Improving productivity and capacity: Investing in the infrastructure needed to keep the city moving, encouraging full workforce participation and supporting the growth of new sectors.

3. Promoting opportunity: Supporting the development of vibrant and sustainable industries and helping them forge links throughout Australia and overseas.

Action plans to guide support for the retail and tourism sectors have been released, outlining how we can work with industry and government to help these valuable sectors grow.

A series of action plans for other key industries including the creative and digital sector, finance and business services, the green economy and local village centres will be developed over coming months.

Last updated: Monday, 14 October 2013