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.
Randwick Strategic Directions Paper
The Randwick Strategic Directions Paper (2020) included an economic activity study which presents a detailed overview of Randwick City's local economy. The Randwick Strategic Directions Paper involved a thorough exploration and analysis of the local area to identify its competitive advantages and opportunities for economic development. The study focuses on the 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 Strategic Directions Paper outlined a number of potential strategic directions and priorities for specific town centres which informed the Randwick Economic Development Strategy 2032.
Randwick Economic Development Strategy
Randwick City Council is committed to working collaboratively to strengthen a sustainable 24-hour economy which will create local employment opportunities and enable a prosperous community. The Randwick Economic Development Strategy 2032 will enable us to build on the diverse strengths of Randwick City and respond to the challenges that the COVID-19 pandemic has presented, including the impact on small businesses and the education and tourism sector. We will focus on: empowering our community to run thriving businesses; developing vibrant, active places; and attracting people to Randwick City.
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. While the long-term impact of the COVID-19 pandemic is still unknown, we have significantly less students and visitors contributing to our local economy while the ability of residents to shop, dine and access services has also been restricted. In implementing the strategy, and recover from the pandemic, we will:
- empower business owners and organisations with networks and resources
- catalyse business collaboration and marketing opportunities
- improve public spaces to create vibrant town and neighbourhood centres
- promote our area’s strengths to attract new businesses, talented workers and students
- maintain the coastal amenity and foster experiences to attract visitors.
Partnerships with business, small and large, all levels of government and the not-for-profit sector will be key to achieving the outcomes for a vibrant and prosperous local 24-hour economy.
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 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. For more information visit their website