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Brisbane2022 New World City Action Plan ACTIVATING TEAM BRISBANE TO SHAPE OUR NEW WORLD CITY BRISBANE2022 NEW WORLD CITY ACTION PLAN Full version available at choosebrisbane.com.au/2022plan BRISBANE2022 NEW WORLD CITY ACTION PLAN 1.5m Jobs (by 2031) BRISBANE Sustainable $75k per capita ASIA PACIFIC HUB income (by 2031) NEW WORLD CITY Welcoming New World City Alliance $217b Economy (by 2031) Competitive Attracting Global Capital Global Thought Leadership Clean “Next Generation” Driven Brisbane Global Network Home of Asia Pacific Cities Summit Centres of Excellence Model New World City Home of World Science Festival Home of Brisbane Asia Pacific Film Festival Top 60 cities for Foreign Direct Investment Home of Asia Pacific Screen Awards Asia Pacific Start-Up Hub World-class Infrastructure Green Innovative and Connected Asia Pacific Education Hub Home of The Asia Pacific Triennial of Contemporary Art (APT) Global Talent Attraction Inclusive Asia Pacific Tourism Hub 01 Lord Mayor’s Economic Development Steering Committee 2015 Top 10 lifestyle city INTRODUCTION The Brisbane 2022 New World City Action Plan aims to define the priorities that will drive the city’s economic growth for the next seven years and beyond. The plan was compiled by the Lord Mayor’s Economic Development Steering Committee (LMEDSC) which consulted with 1000 people who represented more than 500 different local, national and international organisations. New World City Alliance Based on the outcome of extensive research and consultation, the economic blueprint contained within presents the opportunity for Brisbane to become the leader of the New World City formula for urban success. FINDINGS Brisbane’s current economic profile relies heavily on locally generated revenues. In a globalising economy, the city needs to better align its Clean outputs with the needs of a global marketplace. “Next Generation” Driven The report has determined the city’s current mix of industry Brisbane Global Network specialisations, education platforms and its deep skills and talent base has it well positioned to increase its level of ‘export’ income. To be most effective however, the way these assets are currently integrated can be improved. The Brisbane 2022 Plan is multi-faceted and will require city-wide and region-wide collaboration to deliver. RECOMMENDATIONS This report recommends the city recalibrate its approach to economic development to significantly increase its share of globally generated revenues and shape a New World City economic profile. This process can be accelerated by focusing on seven economic priorities and specific actions – the key recommendations have been highlighted. The economic priorities have been devised to drive job creation, city- shaping, quality of life, research and education expansion and continue the momentum toward achieving the existing targets set for 2031. Connected Team Brisbane Global Resource and Energy Hub Friendly More Asia Pacific Regional HQs Diverse Districts and Productive Precincts Accessible Asia Pacific Cultural Hub BRISBANE2022 NEW WORLD CITY ACTION PLAN Minimum of 12 drawcard events per year Top 10 lifestyle city Brisbane Region Approach (SEQ) Brisbane 2022 New World City Action Plan 02 Brisbane’s highly successful hosting of the G20 Leaders’ Summit was a defining moment for our city. We took centre stage and showed the world what we were capable of. I was determined that Brisbane would never look back from this moment; that we would continue the momentum and strive toward becoming a model for other emerging New World Cities. Within days of the Summit ending, I tasked the city’s Economic Development Board to form a Steering Committee empowered to think boldly, to bring fresh ideas and help chart a course toward bringing our shared vision of Brisbane as a globally significant, regionally-connected and vibrant metropolis to life. To all those who contributed to this visionary report, I sincerely thank you on behalf of our great city and its people. Like you, I look forward to seeing this exciting vision become a reality and create jobs and opportunities for current and future generations. Graham Quirk Lord Mayor Lord Mayor, On behalf of your Economic Development Steering Committee, I submit to you our report Brisbane 2022 New World City Action Plan which identifies and prioritises the city’s actions toward 2022 and beyond. In arriving at the priorities and recommendations that follow, the Steering Committee engaged more than 1000 executives, entrepreneurs, students, government officials, analysts, academics and leaders from the private, public and not- for-profit sectors who devoted many hours of their time to this discussion. This report emphasises the importance of economic development coordination and connectivity. It identifies the city’s growth sectors and also highlights the need for proactive engagement with our next generation and a Team Brisbane approach with a wider SEQ outlook. Together, these thoughts and recommendations will determine how effectively we move forward as Australia’s New World City. We thank you Lord Mayor for the opportunity to deliver this report. Ian Klug Chair – Lord Mayor’s Economic Development Steering Committee – Brisbane Marketing I offer my congratulations to the Lord Mayor and his Economic Development Steering Committee for presenting this confident and credible economic agenda for Brisbane’s continued success. The city now pursues a strategy similar to that of other leading cities like San Francisco, Barcelona, Oslo, Santiago de Chile and Tel Aviv. Like them, it remains a city of local character, is very well-managed and enjoys a wonderful natural environment. This, it combines with being a world-leading city for knowledge, an emerging scientific and technological city, an entrepôt for new firms and innovators, a corporate hub, and a great location for global events and celebrations. This is what makes Brisbane Australia’s New World City. This is good news for the people of Brisbane and their families. It is no longer the case that people need to leave in order to pursue their careers, to get on, or to go global. This economic agenda should also be seen as an invitation and prospectus to those who have not yet invested in Brisbane, or chosen to visit, to study, or to trade. Greg Clark Global Urbanist CONTENTS Introduction 02 The Vision for Brisbane 2022 05 Seven Key Economic Priorities 07 Key Recommended Actions 08 What it Means for Residents 13 The Plan’s Ambitions for Brisbane 2022 14 The Consultation Process 16 Brisbane’s Economic Snapshot 17 Lord Mayor’s Economic Development Steering Committee 19 What we heard from Industry 20 Acknowledgements 21 Brisbane 2022 New World City Action Plan 04 TARGETS THE VISION FOR BRISBANE 2022 The 2012 Brisbane WHAT DEFINES A NEW WORLD CITY? Economic Development Plan set 2031 targets The Brisbane, Australia’s New World City vision first for economic output, emerged in 2008. Economists have since used the term to employment and per benchmark a range of cities worldwide that have similar capita income. These traits and assets to Brisbane and arguably the same remain the guiding potential to leverage those assets to elevate them onto benchmarks for the the world stage. Brisbane 2022 Plan. These cities: • Are mid-sized • Are affordable $217b • Are agile • Offer quality education options ECONOMY • Have expert specialisations within a managed metropolis • Offer an optimal work-life balance • Have efficient infrastructure 1.5m • Have problem-solving capabilities JOBS • Have low congestion, inflation and pollution • Are safe and secure Brisbane now sits alongside a select group of 24 cities that includes Barcelona, Miami, Calgary, Singapore, Tel Aviv, $75k San Diego and Cape Town for example that all possess PER CAPITA INCOME these ‘New World City attributes’. 05 Lord Mayor’s Economic Development Steering Committee 2015 These energetic, emerging global gateways compete for talent, capital, innovation, students, visitors and major events. On a global scale, New World Cities should also: • Be among the world’s top 100 cities for commercial investment • Be among the world’s top 100 cities for visitors, innovation or brand • Be in the top 20 in at least one key industry • Be globally recognised for at least one quality Brisbane’s trajectory is trending the right way to achieve these ambitious benchmarks. Today, it is the 172nd biggest city in the world, but significantly, it sits inside the top 80 for globally-linked economies. And since 2000, Brisbane is among the top 30% of the world’s fastest- growing cities, especially in terms of job creation. NEW WORLD CITY ECONOMIC DEVELOPMENT The aim of becoming the pre-eminent New World City by 2022 – a globally-connected, prosperous city with an enviable, irresistible lifestyle quality – has been the guiding framework for the Brisbane 2022 New World City Action Plan. The report outlines why and how seven key economic priorities (following page) should be the focus for increasing the city’s export revenue to ensure its long- term sustainability. Brisbane 2022 New World City Action Plan 06 SEVEN KEY ECONOMIC PRIORITIES 1 BRISBANE’S 7 GROWTH 2 SECTORS TEAM BRISBANE TALENT AND SKILLS Knowledge-based and Corporate Services Accommodation and Visitor Economy Higher and International Education Energy and Resources Creative and Digital DIVERSE DISTRICTS BRISBANE REGION Property Development and Construction AND PRODUCTIVE APPROACH Advanced Manufacturing PRECINCTS Food and Agribusiness (BUSINESS IMPROVEMENT AREAS) 6 3 SMALL AND MEDIUM ENTERPRISES START-UP ECOSYSTEM 5 4
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