Economic Development in Randwick City
Sustainable economic development forges a culturally and socially stronger city, facilitates lasting prosperity and improves the overall quality of living.
Randwick City Council undertakes a strategic approach to sustainable economic development working towards a prosperous and unique local economy.
- facilitating and maintaining the diversity of our local economic base, including maintaining the diversity of our existing commercial areas and industrial lands
- improving and promote our commercial centres
- matching of the area's skill base with the needs of industry
- encouraging the growth and greening of existing local businesses
- developing a strong city identity that differentiates Randwick City from other locations
- improving accessibility to and around our key economic activity centres
- managing tourism and its impacts so that visitors to our City are environmentally and socially responsible.
Economic Activity Study
The Randwick Economic Activity Study (2008) presents a detailed overview of Randwick City's local economy. The Randwick Economic Activity Study involved a thorough exploration and analysis of the region to identify its specific and unique competitive advantages and opportunities for economic development into the future.
The Study focuses on the three key economic drivers in Randwick City: Randwick Health and Education Precinct (UNSW and the Randwick Hospitals); town and village centres; and industrial lands (including Port Botany and surrounds). The Randwick Economic Activity Study provides essential baseline economic data as a sound informed basis for the Randwick Economic Development Strategy.
Randwick Economic Development Strategy
The Randwick Economic Development Strategy (2009) was developed to provide long-term strategic direction in order to ensure a sustainable and prosperous future for Randwick City. Successful economic development models are built around true partnerships between government, business, local and major institutions and the Randwick Economic Development Strategy is grounded on the principle of working in partnership with the business and general community and these partnerships are viewed as important drivers to accomplish better outcomes.
The Randwick Economic Development Strategy identifies key actions to develop and support local businesses and tourism and promote economic activity across our town, retail and commercial centres and industrial sectors. The Randwick Economic Development Strategy will be revised every five years as progress towards the long term vision is reviewed and new opportunities and priorities emerge.
Town Centre Strategies
Our local commercial centres offer a very different service to the larger regional shopping centres and we positively promote this difference. We will continue to develop programs that support and promote our centres to help them better serve our local community and support our City's economic growth. We are working with our City's chambers of commerce and local communities to identify and develop each commercial centre's character and unique identity and support the 'shop locally' program.
This coordinated approach for each commercial centre involves planning and design reviews, public domain improvements and encouraging businesses to market themselves and/or plan events to market their centre. We facilitate joint events and sponsorship of events to support and promote each local centre's unique qualities.
A local town centre action plan is undertaken every two years. These commercial centre strategies are developed in partnership with the local chamber of commerce. The development process incorporates comprehensive consultation with local economic stakeholders for the purpose of identifying ways to strengthen our local and neighbourhood centres and to promote small businesses throughout our City
The interactive development process of the commercial centre strategies facilitates enduring partnerships between Council and the local chambers, local businesses and economic stakeholders.
In 2010 Matraville was the first commercial centre strategy to be undertaken and in 2012 the Kingsford Town Centre Strategy was developed.
Each commercial centre strategy contains:
- Economic overview and audit
- Analysis of the viability and the trends in the commercial centre and the identification of its economic strengths and opportunities
- Action plan with public domain improvements to create an individual sense of place and reflect the local character and themes
- Realistic, achievable, innovative and cost effective recommendations for short, medium and long term actions and strategies developed to promote and enhance sustainable economic activity.
Visitors, tourism and recreation
Randwick Council strives to provide a strategic approach to tourism that is sensitive to environmental and social issues but also recognises the significant contribution visitors and tourism can make to local employment and the ongoing prosperity of Randwick City.
Visitors and tourism play an important role in the local economy. This area has long been a prime destination for international, national and locally based visitors. Randwick City Tourism Inc is the peak tourism body in Randwick City and have chosen the name 'The Sports Coast' to highlight the wonderful array of outdoor recreation activities available across the area from thoroughbred horse racing and team sports of all varieties, to walking, cycling, sailing, surfing and scuba diving.