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Study highlights growing focus on creativity and innovation

26 November 2015

An economic analysis prepared by consultants SGS Economics and Planning, has found that innovation and knowledge sectors are growing in and around the area, alongside creative industries which are spreading out from Surry Hills and Chippendale.

The analysis will inform the further development of the Urban Transformation Strategy. It provides an industry profile of the area and suggestions for how to further support future economic development.

It found that there is an opportunity to support the creation of Sydney’s premier creative and innovation precinct and that these industries are attracted to the character of the area. It also found that commercial floor space does not need to be concentrated, but should be diverse in location and size to support a healthy ecosystem of businesses across the corridor.

“The analysis has been valuable to our planning by providing a detailed industry profile of the area and outlining suggestions for how to furthersupport future economic development in the area,” said Program Director Troy Daly.

“We asked SGS to be ambitious in their thinking and their report suggests activities to help build the economy, from small interventions to very ambitious ideas requiring significant investment.
“While not all of the ideas may be possible as part of this project, they have helped us to appreciate and understand the nature of current industries and future possibilities.”

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