Workshop presentation june 2012

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A presentation for the Peel Regional Leaders Forum emphasising the need for a strategic 'regional' approach to economic development. The context may change, but the principles are the same for all regional economies.

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Workshop presentation june 2012

  1. 1. Developing theCapacity and Driversfor Regional EconomicDevelopmentPeel Regional LeadersForum
  2. 2. Capacity and DriversCapacity refers to the ability of a region toaccommodate economic developmentDrivers refers to the reasons for economicdevelopment to occur in a region
  3. 3. The Need for EconomicDevelopment South West and Peel population growth:
  4. 4. Employment allocationCharacteristics 2006 2031 2061Residents 253,206 411,000 682,115Labour force 114,590 188,000 312,014Total required jobs 73,626 137,000 227,372Employment self-sufficiency 64% 73% 73%Population-driven jobs/resident 0.23 0.25 0.25Strategic/Non-Regional 40,964 51,000 84,642Employment Job gap Peel cannot be simply be a net exporter of labour to the CBD or the regions!
  5. 5. 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
  6. 6. 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
  7. 7. Incremental EconomicDevelopment
  8. 8. Planning for the Future
  9. 9. Strategy Structure
  10. 10. It’s All About Leverage
  11. 11. 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
  12. 12. 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

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