Workshop presentation june 2012
description
Transcript of Workshop presentation june 2012
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Peel Regional Leaders Forum
Developing the Capacity and Drivers for Regional Economic Development
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Capacity and DriversCapacity refers to the ability of a region to accommodate economic development
Drivers refers to the reasons for economic development to occur in a region
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The Need for Economic Development
South West and Peel population growth:
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Employment allocationCharacteristics 2006 2031 2061
Residents 253,206 411,000 682,115
Labour force 114,590 188,000 312,014
Total required jobs 73,626 137,000 227,372
Employment self-sufficiency 64% 73% 73%
Population-driven jobs/resident 0.23 0.25 0.25
Strategic/Non-Regional Employment Job gap
40,964 51,000 84,642
Peel cannot be simply be a net exporter of labour to the CBD or the regions!
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Localisation Economies The result of a number of firms and
enterprises in complementary industries and supply chains locating in the same area.
Localisation economies are the result one or more of three factors. These are: Availability of specific skilled and
specialised labour Availability of specialised/essential inputs at
a more competitive value due to economies of scale
Increased efficiency in knowledge transfer/technology spillovers/collaborations and partnerships due to proximity of partners
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Urbanisation Economies The general benefits that a firm will gain
from locating in a particular urban environment.
This includes access to: General labour pools Access to financial and commercial services Proximity to transport and communications
networks High amenity workplaces
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Incremental Economic Development
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Planning for the Future
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Strategy Structure
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It’s All About Leverage
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Investment Attraction A collective effort to build localisation
and urbanisation economies A productive Perth needs a productive
Peel Population growth, jobs, and congestion
are arguments that inform silos Productivity is universal – arguments
need to be framed in terms of productivity benefits for the City
This requires an overarching regional strategy
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In Summary Peel is has well developed localisation
and urbanisation economies Future population growth requires that
these to continue to expand The geographic dislocation between
economies presents a strong case for regional strategies
Successful economic development will be dependent on strong strategy and structures
The case for public and private sector investment attraction in Peel must be developed