Business Chief ANZ Magazine – February 2019

Page 80

CITY FOCUS | ADELAIDE

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ituated on the coast of Southern Australia, Adelaide has a population of 1.27mn, making it the 5th most-

populous city in the country. In the 20th century, the city became a hub for Australian manufacturing, with international car makers General Motors Holden, Chrysler and Mitsubishi calling the city home. Due to the 2009 recession, industrial production in Adelaide slowed, with the closures of multiple auto plants, including the Tonsley Mitsubishi plant, which shut down in 2008. In 2016, state Premier, Jay Weatherill warned 80

that Southern Australia was in danger of becoming a “rust belt,” in the vein of Detroit, Michigan, and Pittsburgh, Pennsylvania. Now, however, Adelaide’s fortunes are changing. Rescue packages orchestrated by the Australian government, combined with the city’s rich winegrowing, culinary and cultural traditions have attracted outside investment and prompted early-stage innovators to migrate to the city. Weatherill said in 2016 that Adelaide’s future would depend on its ability “to use the artistic industries, the creative industries to also morph into their advanced manufacturing sector.” In 2018, the city appears to be well on its way to doing just that.

FEBRUARY 2019


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