Economic Development Strategy for the City of Brisbane

To enable Brisbane to meet the economic and employment challenges of the new millennium, as Lord Mayor, I initiated preparation of an Economic Development Strategy for the city in 1998. This year, following a thorough investigation and consultation process, Brisbane City Council (BCC) and other key stakeholders including State Government, business, universities, Brisbane’s Office of Economic Development, Brisbane Tourism and the community generally, have adopted a Strategy which sets the framework for Brisbane's economic prosperity for the next decade and more.

To oversee preparation of the Strategy, I requested top Queensland businessman Mr Jim Kennedy, AO, CBE, chair an External Steering Group comprising about 20 Brisbane business, government, union and university leaders.

Our vision is that:

By 2011, economic activity in Brisbane will be characterised by expanding, globally competitive enterprises, with high demands for skilled labour and technology. The private sector will operate in a supportive environment with excellent links with government, finance, education and training, and research institutions. Brisbane residents will share in this prosperity and continue to enjoy a high quality urban environment and a superior lifestyle.

This paper provides a brief overview of the economic issues which we have addressed in the Strategy and outlines our broad strategic thrusts.

Issues

Among the issues we identified Brisbane as facing are:

• growth in the Brisbane region’s economy which has not matched South East Queensland's overall high population growth rate, the highest in Australia;
• unemployment, which is much more serious in the outer areas of Brisbane than in the inner suburbs;
• transport issues impacting on future economic development which are many and difficult, and include infrastructure and pricing of services;
• a significant need for enhanced education and workforce skills, especially in regard to the high growth knowledge-based industries; and
• the need to progress economic development while at the same time, maintaining the City's livability, natural environment and quality of life.

Goals

As part of the Strategy, we adopted three major goals to be achieved as key to realising our vision and which are fundamental to addressing the issues identified above. In summary, the goals are:

• accelerating investment across the Brisbane economy in 11 key industry sectors;
• enhancing the City's human resource, technology and infrastructure base; and
• a positive regulatory and business environment.

Policies, Programs and Tasks

To achieve these goals, the stakeholders have adopted a comprehensive set of 12 policies, 57 programs and 90 specific tasks. The Strategy also includes implementation, monitoring and progress reporting mechanisms.

The policies together with some examples of the proposed individual initiatives are outlined in general terms below.

Policy 1: Investment

Under our Investment Policy, we will encourage a significant increase in the growth rate of investment in the Brisbane economy. Among the measures, BCC and the Queensland Government will coordinate efforts to attract and promote investment and further improve procedures for the timely processing of new investment proposals.

Policy 2: Research, Information Technology and Knowledge-Based Industry

The Strategy envisages Brisbane achieving a high level of research and innovation in relative world terms, and the development of a significant share of its economy focused on knowledge-based industries and clusters, particularly in the information sector. To this end we will be:

• preparing an Information Technology (IT) Strategy for Brisbane within the framework of the State’s overall Communication and Information Strategic Plan; and
• developing a Cluster Location and Support Strategy for emerging Knowledge-Based Industries.

Policy 3: Export Performance Enhancement

BCC will contribute to growing an export culture in the city by collaborating with the international, commercial and promotional operations of the Queensland Government. We will also encourage Brisbane firms to participate, as appropriate, in export opportunities where Brisbane City Enterprises (BCC’s commercial arm) is able to negotiate projects which commercialise public agency intellectual property, services and products.

Policy 4: Visitors, Business Events and Attractions

The Economic Development Strategy addresses Brisbane’s tourism products and opportunities with a view to maximising economic value to the city, including tourism product development, improved coordination between industry stakeholders, image creation and systematic marketing.

Policy 5: Human Resources

Human Resources policy within the Strategy envisages a partnership with the business community, the State Government and education institutions, to raise investment in education in Brisbane to ‘World Best’ levels, and to ensure that it meets Brisbane’s economic development requirements.

Among the initiatives, a forum of key stakeholders is planned, which would develop a program to meet the challenges of 21st century education and training. Another example of the proposed tasks would be the orientation of BCC’s graduate, traineeship and apprenticeships programs and complementary recruitment programs by the State Government to increase the skill base in Brisbane.

Policy 6: Infrastructure Development

Higher priority is to be given, under the Strategy, to significant economic infrastructure projects (including ‘Smart City’ communications) and operations according to ‘World’s Best’ practice. Among key measures are:

• preparation of a Telecommunications Infrastructure Strategy for Brisbane consistent with the State’s Communication and Information Strategy,
• the planning of future utility and infrastructure corridors for Brisbane, and
• a joint BCC/State/Industry working party to review infrastructure financing and operating alternatives, including issues related to private participation where cost effective.

Policy 7: Strategic Land Development

BCC, the State Government and business would work together, under the Strategy, to promote development of strategic land parcels, urban renewal and a wide choice and availability of business accommodation in Brisbane. Development of the "Gateway Ports" area is among the areas of highest priority. Consideration will also be given to extending to new areas, the activities of Brisbane’s Urban Renewal Task Force.

Policy 8: Small Business

Through the Strategy’s Small Business Policy, the need for certainty and clarity for small business in dealing with Brisbane City Council is addressed. Related actions envisage provision of small business information support in partnership with the State Government. Also included, is the incorporation of BCC business-related licences into the State’s SmartLicence system and database.

Policy 9: Regulatory Reform and Efficiency

As part of its drive to minimise unwarranted impediments to private sector and Council commercial activities, it is BCC’s policy to review existing and proposed Council regulations. This and other actions are intended to effect a significant reduction in compliance costs for business and processing time for development applications.

Policy 10: Local Economic Development

Programs under the Economic Development Strategy will encourage and support economic development at the local community level. Amongst the initiatives, BCC is implementing a local business advisor program to revitalise selected suburban shopping precincts.

Policy 11: Environmentally Sustainable Economic Development and Quality of Life

Brisbane’s Economic Development Strategy is consistent with a city in which economic development coexists with a high quality natural and social environment. The Strategy reflects the requirement for economic development and livability of the city to be compatible and complementary.

Policy 12: Economic Leadership

The Strategy puts in place a number of measures to cultivate economic leadership as a resource for the community’s future. It also establishes a framework within which effective economic leadership can be provided.

Implementation

The mechanisms for Strategy implementation are crucial. Central to this is a newly created Brisbane Economic Development Committee, which will oversee and report to Council on implementation progress.

Close consultation and participation by the State Government is also important and this has been achieved through Capital City Policy, which the Queensland Premier and I announced in May this year.

Conclusion

Brisbane’s Economic Development Strategy is distinguished by its comprehensiveness. More than this, however, it is marked by strong commitment from BCC, the State Government, business, the education sector and the community generally. Further, we have put in place the necessary structures and mechanisms to implement, monitor and progressively adjust the Strategy to ensure that it delivers the standard of living and quality of life which the whole community is looking for.

To conclude, BCC and the other stakeholders, recognise that our goals for Brisbane will not be achieved overnight. There are already some early successes, but we are aware that it will be a decade before the full benefits of the Strategy are evident. We believe, however, that a city with resolve and application can determine and create its future, and that Brisbane will succeed in realising its vision.