KEY ATTRACTIONS IN THE TOWN OF LEICHHARDT AUSTRALIA FOR A GREAT HOLIDAY - THIS IS AN EXAMPLE OF HOW ON-LINE INFORMATION LINKS CAN PROMOTE TOURISM LOCATIONS
- CLICK ON THE LOGO TO ACCESS THAT WEB-SITE
La Giara Nat Info Econ Leichhardt Public Sch The Italian Forum ATUG Petersham Bowlo
Project Minutes | Blockchain SIG | Blockchain TED Videos | IBM Blockchain for Diamond Ind | RUBAC Video | RUBAC Projects | Disclaimer | CopyrightHome | Aboriginal Statement | A: Introduction | B: Inner West's Strategic Business Advantages | C: Inner West Economic Profile | D: Priorities | E: ConclusionINNER WEST COUNCIL DRAFT ECONOMIC DEVELOPMENT STRATEGIC PLAN SEP 2019C Inner West Economic Profile
The urban development of the Inner West, located 4-10 kilometres west of the Sydney Central
Business District (CBD), dates from the early 1790s when the first land grants for a European
settlement were made.
Population was minimal until the 1850s, but significant residential and industrial growth occurred
from the 1870s to the late 1960s.
The population gradually declined during the 1970s to early 2000s then remained relatively
stable for the next ten years.
The growth then resumed, reaching a population of about 198,000 in 2018.
The Inner West economy has historically played an important employment role in inner Sydney,
particularly in manufacturing and port related activities on the Balmain Peninsula.
The area is also a destination for food and entertainment, attracting a Sydney wide catchment.
Today, Inner West is facing a range of economic challenges and opportunities from major shifts
underway in the global and Australian economy.
They include economic transition to knowledge and services, loss of manufacturing jobs,
disruption of business models, competition from residential development and changes to the
way we work.
This report presents a story about the Inner West Local Government Area's (LGA) economy that
can be used to inform strategic planning, investment priorities and ultimately the development of
interventions to leverage opportunities and address challenges.
Map 1 - Inner West LGA Boundary
9
Inner West Economic Snapshot, 2017/18
An economy dominated by population serving industries but with business services and
manufacturing still a large part of the economy
A large share of Inner West's economic activities is focused on providing essential (health,
education and utilities) and non-essential (hospitality, retail, arts and recreation) services
for the population.
In 2018, 60% of the Inner West's economic activities, in terms of local employment, was in
population serving sectors compared to 50% for Greater Sydney as a whole.
While population serving industries dominate, Inner West has a relatively high share of
employment in goods transformation activities.
In 2018, manufacturing and construction goods transformation activities comprised 7% and
10%, respectively, of local employment, compared to 6% and 9% in Greater Sydney as a whole.
In terms of employment, economic activities in business services is underrepresented with only
17% of local employment, compared to 25% in Greater Sydney.
However, the sector is highly productive, contributing 31% of total Value Added to the economy
of the Inner West in 2018.
Chart 1 - Structure of Economy, % of total jobs
Source: NIEIR (2018)
Looking at a detailed industry level, over 62% of local employments were in top 6 industries.
1 Health Care and Social Assistance had the largest number of local jobs.
Although jobs directly associated with general hospitals were low (590 jobs in 2016),
there is a relatively high number of jobs in medical services areas adjacent to the Royal
Prince Alfred hospital and numerous aged care facilities.
2 Retail Trade was comparatively more active within the area, such as along the
Parramatta Road.
The industry accounted for more than 11% of total employment, compared to 9.6% in
Greater Sydney as a whole.
The recent surge in residential construction activities across Greater Sydney, including
Inner West has propelled the employment in the Construction industry from 5th largest in
2013 to 3rd largest in 2018.
Source: NIEIR (2018)
Chart 2 - Top 6 Employing Industries, jobs
The productivity (value added) of industries reveals that Inner West's economy is not just
focussed on population serving industries.
While not the biggest employing industry, Professional Services was the most productive
industry, highlighting its importance as a driver of economic growth.
Around half of this industry is engaged in architectural, engineering and technical services and
legal and accounting services.
Manufacturing industries is also important from productivity perspective and is the third greatest
Value-Adding industry.
Source: NIEIR (2018)
Chart 3 - Top 6 Value Adding Industries, $million
Competitive advantages in population serving and manufacturing industries with substantial
advantages in high value adding industries
Local jobs within Inner West's economy have a significant competitive advantage in population
serving industries and manufacturing industries.
Particularly, the economy has substantial advantages in: Manufacturing industries relating to
clothing, printing and furniture, where a large number of workers are agglomerated around
Marrickville
3 Café, restaurants and takeaway food services catering for local residents as well as
national and international visitors to Inner West.
Specifically, the businesses are amassed around economic hubs, Ashfield and Marrickville,
around universities and hospitals, and tourist spots, such as Balmain.
4 Health industries relating to allied health services, aged care facilities, childcare and
social support services are agglomerated in Ashfield and Lilyfield.
5 Other services, particularly personal care services relating to beauty care and
automotive repair service.
An important feature of the Inner West's economy is the competitive industries within Inner
West.
Inner West's competitive industries are engaged in relatively more productive and/or specialised
activities.
Source: NIEIR (2018)
List of Employing Industries, jobs
6 o Other Services
o Accommodation and Food Services
o Health Care and Social Assistance
o Retail Trade
o Manufacturing
o Public Administration and Safety
o Rental, Hiring and Real Estate Services
o Education and Training
o Arts and Recreation Services
o Wholesale Trade
o Administrative and Support Services
o Construction
o Professional, Scientific and Technical Services
o Transport, Postal and Warehousing
o Information Media and Telecommunications
o Agriculture, Forestry and Fishing
o Financial and Insurance Services
o Electricity, Gas, Water and Waste Services
o Mining
Businesses are heavily reliant on workers from a wide area beyond the Inner West LGA
boundary
Businesses are heavily reliant on workers from surrounding LGAs as more than 70% of Inner
West's employed workers reside outside the LGA.
Businesses draw on a very large catchment which is made possible by excellent road and
public transport accessibility to Inner West's main employment precincts.
The main locations of Inner West's workers from outside the LGA are from
1 Canterbury-Bankstown LGA (12.3% of total workers) and
2 City of Sydney LGA (6.4%).
However, there are a number of industries who have a relatively high share of workers who live
and work in Inner West LGA.
Arts and Recreation Services had the highest number of local resident workers with 61.6% and
Professional, Scientific and Technical Services had the second highest proportion of local
resident workers with 52.1%.
Source: ABS Census of Population and Housing 2016
Map 3 - Resident Location of Inner West Workers in 2016
E Key Emails
E2 Sat 20 Apr 2019 Biogas Digester option for Refugee Sanitation ProjectR References
R4 2014-11-07 IBM "Blockchain" solution for the Diamond Industry Video
R3 1997 Lessons from a Dozen Years of Group Support Systems Research - 4,000 IBM projects
R2 Sir Evelyn de Rothschild - Director De Beers 1977-1994 & IBM UK 1972-1995
R1 1987-04-23 RUBAC Automatic eProcess Synchronisation Video