Download - Workshop presentation june 2012
Peel Regional Leaders Forum
Developing the Capacity and Drivers for Regional Economic Development
Capacity and DriversCapacity refers to the ability of a region to accommodate economic development
Drivers refers to the reasons for economic development to occur in a region
The Need for Economic Development
South West and Peel population growth:
Employment allocationCharacteristics 2006 2031 2061
Residents 253,206 411,000 682,115
Labour force 114,590 188,000 312,014
Total required jobs 73,626 137,000 227,372
Employment self-sufficiency 64% 73% 73%
Population-driven jobs/resident 0.23 0.25 0.25
Strategic/Non-Regional Employment Job gap
40,964 51,000 84,642
Peel cannot be simply be a net exporter of labour to the CBD or the regions!
Localisation Economies The result of a number of firms and
enterprises in complementary industries and supply chains locating in the same area.
Localisation economies are the result one or more of three factors. These are: Availability of specific skilled and
specialised labour Availability of specialised/essential inputs at
a more competitive value due to economies of scale
Increased efficiency in knowledge transfer/technology spillovers/collaborations and partnerships due to proximity of partners
Urbanisation Economies The general benefits that a firm will gain
from locating in a particular urban environment.
This includes access to: General labour pools Access to financial and commercial services Proximity to transport and communications
networks High amenity workplaces
Incremental Economic Development
Planning for the Future
Strategy Structure
It’s All About Leverage
Investment Attraction A collective effort to build localisation
and urbanisation economies A productive Perth needs a productive
Peel Population growth, jobs, and congestion
are arguments that inform silos Productivity is universal – arguments
need to be framed in terms of productivity benefits for the City
This requires an overarching regional strategy
In Summary Peel is has well developed localisation
and urbanisation economies Future population growth requires that
these to continue to expand The geographic dislocation between
economies presents a strong case for regional strategies
Successful economic development will be dependent on strong strategy and structures
The case for public and private sector investment attraction in Peel must be developed