Economic Development Strategy

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Consultation closes Friday 10 January 2025

How to get involved: 

Background 

Economic development is vital for fostering a resilient community, creating jobs, and enhancing the quality of life for residents and visitors alike. It underpins our ability to provide essential services and drive funding for public infrastructure and amenities.

In May-June 2024 Council launched its most extensive consultation to date: the ‘Have your say on North Sydney’s next ten years’ campaign. Through this engagement we asked the community how we can support businesses, promote employment opportunities and attract investment. Council has listened to your feedback and combined with research created the draft Economic Development Strategy.  

We now invite the community to continue sharing their thoughts as we plan to implement the strategy. 

For more information on the research that underpins this strategy, please refer to the Economic Development Study.


Key strategic directions

The Economic Development Strategy details how Council, the community, businesses and other stakeholders will work together over the next ten years to build a thriving and resilient local economy.

To achieve this outcome, we will focus on four key strategic directions:

  1. Revitalise and grow the North Sydney CBD as a high-amenity top-tier office precinct
  2. Cultivate a diverse, connected and resilient business environment
  3. Create vibrant villages and local centres that attract and retain visitors
  4. Promote North Sydney as a destination of choice

The Economic Development Strategy is one of eight draft informing strategies that articulate the needs and priorities of North Sydney over the next ten years. Once adopted, these strategies will form the basis of our new Community Strategic Plan (CSP).


Cost of delivering the Economic Development Strategy

Timing and delivery of new projects and initiatives will be dependent on availability of funding from a variety of sources, including but not limited to grants, developer contributions, and rates.

A detailed breakdown of the estimated cost and funding sources for all capital works identified within the informing strategies is provided in the appendix at the end of the Long-Term Financial Plan (LTFP).

To deliver all expanded services and new and upgraded infrastructure detailed in the Economic Development Strategy, the estimated additional funding required from rates income is detailed in the table below:


Council is currently engaging with the community on a proposed special rate variation that presents four potential rate increase options. Options 2a, 2b and 3 will all facilitate delivery of the new projects and initiatives detailed in this strategy.

Using option 2b as an example, the average percentage of rates income that would be spent on delivering the expanded services and new and upgraded infrastructure identified in the Economic Development Strategy over the full ten year period is 1.8%.

This means that for every $100 of rates income received, an average of $1.80 would be spent on new projects, services and initiatives that support economic development in the LGA.


Have your say

As detailed above, the valuable information you provided during the ‘Have your say on North Sydney’s next ten years’ campaign has shaped this strategy. We are now seeking your feedback on the draft Strategy to ensure that it appropriately reflects identified needs and aspirations.

Please provide your feedback by:

  • completing the submission form below, or
  • emailing or writing to us. Please include 'Draft Economic Development Strategy' in the subject line of all email or written feedback.

All submissions in their entirety are made publicly available in the Community Engagement Report. Personal identifying information, and content which is discriminatory, hateful or which may defame, offend, insult, humiliate or intimidate will be redacted.

If you need help accessing the Strategy or would like to view a hard copy version, please call 02 9936 8100. 

Consultation closes Friday 10 January 2025

How to get involved: 

Background 

Economic development is vital for fostering a resilient community, creating jobs, and enhancing the quality of life for residents and visitors alike. It underpins our ability to provide essential services and drive funding for public infrastructure and amenities.

In May-June 2024 Council launched its most extensive consultation to date: the ‘Have your say on North Sydney’s next ten years’ campaign. Through this engagement we asked the community how we can support businesses, promote employment opportunities and attract investment. Council has listened to your feedback and combined with research created the draft Economic Development Strategy.  

We now invite the community to continue sharing their thoughts as we plan to implement the strategy. 

For more information on the research that underpins this strategy, please refer to the Economic Development Study.


Key strategic directions

The Economic Development Strategy details how Council, the community, businesses and other stakeholders will work together over the next ten years to build a thriving and resilient local economy.

To achieve this outcome, we will focus on four key strategic directions:

  1. Revitalise and grow the North Sydney CBD as a high-amenity top-tier office precinct
  2. Cultivate a diverse, connected and resilient business environment
  3. Create vibrant villages and local centres that attract and retain visitors
  4. Promote North Sydney as a destination of choice

The Economic Development Strategy is one of eight draft informing strategies that articulate the needs and priorities of North Sydney over the next ten years. Once adopted, these strategies will form the basis of our new Community Strategic Plan (CSP).


Cost of delivering the Economic Development Strategy

Timing and delivery of new projects and initiatives will be dependent on availability of funding from a variety of sources, including but not limited to grants, developer contributions, and rates.

A detailed breakdown of the estimated cost and funding sources for all capital works identified within the informing strategies is provided in the appendix at the end of the Long-Term Financial Plan (LTFP).

To deliver all expanded services and new and upgraded infrastructure detailed in the Economic Development Strategy, the estimated additional funding required from rates income is detailed in the table below:


Council is currently engaging with the community on a proposed special rate variation that presents four potential rate increase options. Options 2a, 2b and 3 will all facilitate delivery of the new projects and initiatives detailed in this strategy.

Using option 2b as an example, the average percentage of rates income that would be spent on delivering the expanded services and new and upgraded infrastructure identified in the Economic Development Strategy over the full ten year period is 1.8%.

This means that for every $100 of rates income received, an average of $1.80 would be spent on new projects, services and initiatives that support economic development in the LGA.


Have your say

As detailed above, the valuable information you provided during the ‘Have your say on North Sydney’s next ten years’ campaign has shaped this strategy. We are now seeking your feedback on the draft Strategy to ensure that it appropriately reflects identified needs and aspirations.

Please provide your feedback by:

  • completing the submission form below, or
  • emailing or writing to us. Please include 'Draft Economic Development Strategy' in the subject line of all email or written feedback.

All submissions in their entirety are made publicly available in the Community Engagement Report. Personal identifying information, and content which is discriminatory, hateful or which may defame, offend, insult, humiliate or intimidate will be redacted.

If you need help accessing the Strategy or would like to view a hard copy version, please call 02 9936 8100. 

Page published: 27 Nov 2024, 05:35 PM