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ECONOMIC DEVELOPMENT STRATEGY 2012-2016 Community Summary


The City of Port Phillip is a great place to do business. Visitor numbers are up, our local economy is strong and the first class facilities we are famous for have never looked so good. The job of the Council and City in helping local business is an important one. Each year, we will produce an action plan (see activities outlined on pages 10 and 11 of this document) which supports our five-year Economic Development Strategy.

The strategy has three objectives. These are to: • E  nhance competitive advantage for businesses in the municipality • I ncrease connections between the business, not-for-profit sector, visitor and residential communities

This brochure has been produced as a summary version of our larger Economic Development Strategy. If you would like to read the full document, please visit our website at www.portphillipbusiness.com.au or call ASSIST on 9209 6777 for a copy.

• D  rive prosperity across the entire Port Phillip community.

The City of Port Phillip is a great place to live and it’s a terrific place to work. Local businesses have an exciting future ahead.

Council’s role is as an enabler of better business. Our job is to create an environment where local businesses can grow and prosper. In order to do this we work with businesses and business groups, we promote innovative ways of doing business, we partner with State and Federal Government agencies, and we conduct activities, programs and campaigns to stimulate economic growth.

Rachel Powning Mayor

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Photos (opposite and front cover, top-left): John Gollings


Photo: John Gollings

Why do business in the  City of Port Phillip? The City of Port Phillip enjoys a robust and diverse local economy. We enjoy a drawcard location for residents, visitors and businesses alike. Port Phillip’s strategic position between the Melbourne CBD, the Bay, the Port and the affluent eastern and south-eastern suburbs has allowed us to prosper economically and socially. The area has convenient transportation access for freight and distribution as well as excellent public transportation links to the CBD and elsewhere by train, tram and bus.

We are home to some of Victoria’s best known, first class tourism attractions such as Luna Park, the St Kilda Foreshore, Station Pier and the beaches along Port Phillip Bay. Finally, Port Phillip is renowned for its unique atmosphere and cultural diversity, making the area an attractive destination for a wide cross-section of people who come here to live, work and play.

Council has examined ways these strengths can be turned into economic opportunities. Some of the ideas considered include: • D  eveloping Fishermans Bend to maximise the area’s business development potential • M  aximising the City’s location on Port Phillip Bay for tourism development, including leveraging from cruise ships and St Kilda as a key tourism destination for local, domestic and international visitors

• H  arnessing the creative communities of Port Phillip to grow and develop new business in the arts, production and media industries • S  trengthening the City’s unique activity centres to meet the needs of local businesses, residents and visitors • F  urther attraction and retention of professional business services in St Kilda Road • E  ncouraging the growth sectors of ‘green’ businesses and home-based businesses.

The City of Port Phillip is an iconic Victorian location with first class tourism assets, sophisticated infrastructure and celebrated diversity.

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City of Port Phillip

Facts & Figures 6

The people who live and work in the City of Port Phillip are one of the major reasons our local economy is so vibrant and so varied. Here are some interesting facts and figures:

The City of Port Phillip’s population is growing fast and this is set to continue in the short-medium term. The City’s resident population is forecast to grow by over 31% to 118,000 in 2026.

Port Phillip, as a whole, is an area of significant social advantage. However there are localised pockets of social disadvantage within the municipality.

Port Phillip has a significant proportion of working age adults (68%).

Although there are 1.64 times more jobs than residents in Port Phillip, 75% of residents work outside the municipality with 24% commuting more than 10 kilometres.

The highest proportion of Port Phillip residents are aged between 25 and 39 years.

The primary demographic for Port Phillip is young couples, young families and single adults under 40.


Business

now & into the future The economy of Port Phillip is one of the strongest in Victoria. The table on your right illustrates the major industry categories at work in the City of Port Phillip.

Significantly, the Construction and Wholesale Trade industries are growing and the City has the highest proportion of ‘creative workers’ than any other municipality in Victoria.

Two types of enterprise have most significant potential for future growth: green businesses and home-based businesses. The City is well positioned to capitalise on these emerging industries to further contribute to the economic growth of Port Phillip (see pages 10 and 11 for specific actions).

Industry Groupings

Industry Sectors

% of Jobs

Professional Services & Property

Financial and Insurance Services, Information Media and Telecommunications, Professional, Scientific and Technical Services, Rental, Hiring and Real Estate Services

37.1%

Manufacturing, Trade & Industry

Construction, Electricity, Gas, Water & Waste Services, Manufacturing, Transport, Postal and Warehousing, Wholesale Trade

20.7%

Tourism

Accommodation and Food Services, Arts and Recreation Services

10.7%

Retail Trade

Retail Trade

7.1%

Other industries

24.4%

TOTAL

100%

Port Phillip has the highest proportion of creative workers of any municipality in Victoria. They are employed across a wide span of creative industries including computer systems design; advertising and communications; architecture; motion picture production; audio/video production and the performing arts. 9


Strategic Directions  and their Outcomes The City of Port Phillip Economic Development Plan has identified six strategic directions, each of which is supported by a series of activities due for completion during 2012 onwards.

Strategic Direction 1: An integrated and inclusive local community

Strategic Direction 2: Sound environmental leadership

Feature Activities:

Feature Activities:

• C  reate partnerships between business and the community to promote diversity, support community interaction and create local employment

• P  articipate in the CitySwitch program and recruit large-scale businesses to the initiative, implementing sustainable solutions to improve their energy efficiency

• S  howcase the success and achievements of businesses in Port Phillip through the Business Excellence Awards (to be held in 2012 and 2014)

• C  ollaborate with and promote Council, State and Federal Government climate change programs to local businesses in the City of Port Phillip

• S  trengthen the business community, build capacity and support the growth of businesses by providing a series of networking events, training and mentoring sessions.

• A  ssist small to medium sized businesses in reducing their energy usage by implementing the Green Business Program.

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Strategic Direction 3: A FIRST class tourism destination which balances visitation and amenity Feature Activities: • P  artner with the IMAP Tourism Working Group to strategically develop and position inner Melbourne as a vibrant and welcoming destination, ultimately increasing visitation levels and supporting growth for businesses within Port Phillip • H  elp develop the profile of St Kilda by building the capacity of the St Kilda Tourism Association • P  artner with Destination Melbourne in the development of tourism publications, which will continue to grow all parts of Port Phillip as an exceptional visitor experience • P  romote and support the Tourism Accreditation Program, which enhances industry professionalism and improves standards.

Strategic Direction 4: Flourishing activity centres

Strategic Direction 5: Strong economic clusters

Strategic Direction 6: The Creative City

Feature Activities:

Feature Activities:

Feature Activities:

• C  ontinue the ongoing administration and governance of Special Rates Schemes, in partnership with Business Associations, enabling:

• P  romote the strong competitive position of St Kilda Road as a core commercial hub

• C  onduct an economic benefit analysis to understand the value of the creative sector to Port Phillip’s economy and identify opportunities for future business development and clustering

—> Business Associations to develop individual business plans which maintain a ‘point of difference’ and diversified business mix

—> Local self-sufficiency in the retail offer available to the community

—> The facilitation of business development and coordinated marketing and promotion.

• C  ollect and analyse key business data and information on Fishermans Bend to support economic development and planning initiatives.

• S  upport community festivals in Albert Park and Elwood to provide creative, community‑based activities that stimulate business growth and development.

• P  rovide governance training and capacity building for board members of Business Associations • C  ontinue to support the ‘Building Connections’ network between the Business Associations across the municipality, which will allow the Associations to explore ideas, raise concerns and implement solutions which support the growth of businesses within Port Phillip.

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Photo: John Gollings

How can you be involved? Economic development promotes prosperity and an improved quality of life across the whole community by supporting and serving the needs of local business people. Investing in economic development should not only deliver outcomes for the local business community but also create benefits for the wider community. For these reasons, the City of Port Phillip encourages local businesses to contribute to the success of the Economic Development Strategy. There are a number of ways your business can GET involved:

• E  ngage Council to participate in fostering partnerships between business and the local community • N  ominate your business (or another business) for the 2012 Port Phillip Business Excellence Awards • A  ttend networking events, programs and workshops organised by City of Port Phillip, including: —> Business Breakfasts and networking events —> ‘ Building Connections’ networking events for Business Associations

—> Business Mentoring and Business Development Workshops to gain knowledge and insight on topics such as marketing, business planning and finance to assist business people to improve their skills —> Tourism Accreditation Program a development tool designed to establish and continually enhance industry professionalism and standards

—> Becoming involved in sustainable business practises through the Council’s range of green programs and seminars. • S  ubscribe to, and regularly visit, the new Port Phillip Business website, where you will receive up-to-date information on events, permits, legislative changes, grants and funding opportunities and achievements (www.portphillipbusiness.com.au).

—> Tourism Excellence Workshops facilitated by industry experts on tourism best practise

To download an electronic copy of this Economic Development Strategy Community Summary please visit our website at www.portphillipbusiness.com.au, or for more information, suggestions or assistance, please telephone ASSIST on +61 3 9209 6777. The contents of this Community Summary are extracted from the Port Phillip Economic Development Strategy 2012-2016. This is printed on Australian made, 100% recycled paper. Designed and printed locally in Port Melbourne by Stokes Street Studio and Kosdown Printing – Winner 2008 CitiPower Port Phillip Business Excellence Environmental Sustainability Award.

Port Phillip Economic Development Strategy - Community Summary 2012-2016  

Port Phillip Council has released a Community Summary which is a summary version of the Economic Development Strategy for 2012-2016.

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