Building a framework
Central Sydney is Australia's most significant urban economy, accounting for 7.5% of the country's gross domestic product and around one third of the Sydney metropolitan economy. The area employs more than 395,000 people and is the centre of Sydney's transport network.
Despite the growth of business districts such as North Sydney, Parramatta, Olympic Park and the growth corridor to the north-west, the local area has maintained its pre-eminent role, thanks to its large economic base including a dense network of globally competitive industries, well-developed infrastructure, good governance and outstanding amenities and living environment.
In September 2007, the City of Sydney adopted an economic development framework as part of its corporate plan. This discusses issues that will affect economic development across the local area, analyses the elements of the urban economy and talks about factors driving change. Throughout 2007 and 2008, information from the economic development framework was also used when drawing up the Sustainable Sydney 2030 strategy.
Building on Sustainable Sydney 2030 and taking account of contemporary economic challenges and future opportunities, the City will release an economic development strategy in 2013.
Detailed action plans will be developed progressively to identify the priorities and actions of the City across established and emerging industry sectors as well as place based initiatives that focus on central Sydney and the main streets in every Village.
Senior Strategy Advisor
Economic Strategy Unit
02 9265 9333
Last updated: Wednesday, 30 January 2013