Westmead Innovation District: Building Western Sydney's Jobs Engine
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Westmead Innovation District: Building Western Sydney’s jobs engine Strategic Vision 2016-2036 Foreword A vision to drive investment and jobs growth in Western Sydney Building Western Sydney’s jobs engine by transforming Westmead into a globally competitive Innovation Within the space of less than forty years Westmead has “If embraced by government, grown from a dusty showground on the outskirts of Sydney District by 2036 to become Australia’s largest concentration of health, Westmead provides the opportunity education and research facilities. to deliver 50,000 new high-value, In this short time Westmead has seen billions of dollars of investment by successive governments prioritising it as specialist knowledge economy jobs a place for public health and research investment. Along with by 2036 in the Westmead precinct. private and non-Government sector investment, Westmead now provides over 18,000 specialised high value jobs. That’s 32,000 jobs more than Our region faces a staggering growth challenge over the next present... adding $2.8 billion per twenty years with more than one million new residents due to arrive. And the Westmead precinct will do more than just treat annum of economic output to this expanded population. It will employ them. the NSW economy... and gets us The Centre for Western Sydney has identified 318,086 people leave the region every day to access work. The industrial base well on the way to providing the of Western Sydney is being disrupted and changed by the additional jobs needed for Western growth of new industries that rely on highly skilled knowledge workers. The proposed Westmead Innovation District model Sydney’s future.” is well placed to generate these knowledge jobs. More than $3.4 billion of public and private investment has been committed to rebuild Westmead over the next decade. “Westmead already represents We have also identified a further $2.4 billion of projects Australia’s largest concentration required over the next decade to transform Westmead into Western Sydney’s first true Innovation District by 2036. of health services co-located with This report builds the case for more private investment and world leading education and medical industry collaboration in the fields of bio-tech, med-tech, allied health and primary care. It makes clear recommendations research. The opportunity for around identifying land for redevelopment, resolving critical Westmead to play a larger role transport and infrastructure barriers, and a more enlightened planning vision that will help attract new talented workers to in transforming Australia’s economy the precinct. over the future is unsurpassed.” On behalf of the Westmead Alliance, I invite you to join us in delivering this additional $2.8 billion per annum of economic The Westmead Alliance* To help promote the opportunities the Westmead precinct output to the NSW economy, and leveraging this investment Westmead precinct stakeholders came together in 2013 The Westmead Alliance comprises: presents, the Westmead Alliance has commissioned Deloitte further to secure Western Sydney as the knowledge jobs after recognising there were significant benefits to be gained 1. Western Sydney Local Health District Access Economics to undertake new economic modelling engine room of Australia. through the development of a collaborative approach to 2. The Sydney Children’s Hospitals Network to report and explore the contribution and impact that continuing to develop and promote Westmead as a world Westmead has on the national economy. 3. The Westmead Institute for Medical Research David Borger class medical, educational and research precinct. The 4. Children’s Medical Research Institute This report breaks new ground; eleven institutions have partners, collectively known as the Westmead Alliance, Director 5. Westmead Private Hospital come together to help realise the economic potential of entered into a Memorandum of Understanding aimed Sydney Business Chamber, 6. The University of Sydney health, education, research and business all operating at building commitment and consensus towards a shared within the Westmead Innovation District. Western Sydney 7. Western Sydney University vision for the Precinct. The Alliance advocates for the interest On behalf of the Westmead Alliance The results are remarkable. This study details the current of the Precinct, demonstrates leadership in the maintenance 8. City of Parramatta Council economic contribution to the Australian economy, a forecast and growth of the core objectives of the precinct and 9. Sydney Business Chamber for 2036 at current levels of investment and a potential supports business/industry growth. 10. Cumberland Council Innovation District that would house 50,000 jobs and * Urban Growth NSW also contributed to this study make Westmead a true jobs engine for Western Sydney. 2 Westmead Innovation District | Building Western Sydney’s jobs engine Executive summary A new vision for Westmead A Unique Opportunity A new model for jobs growth What needs to be done? Our economic modelling also Leveraging the Westmead transformation The Westmead Alliance acknowledges the significant interest By building off Westmead’s existing eco system of world Westmead is Australia’s largest health services precinct of local, state and national governments in the future leading health, education and medical research institutions, estimates that by achieving a jobs – a national and international leader in critical and acute of Western Sydney. The Greater Sydney Commission in only a relatively small range of interventions are required target of 50,000 by 2036 Westmead health care, medical research, and education in nursing, particular brings a new focus to the integration of land to ensure Westmead evolves into a globally competitive medicine, allied health professions, and science and use and infrastructure to generate economic growth and Innovation District. Some of these interventions include: will deliver an additional $2.8 billion technology related to health. amenities for sustainable, healthy, liveable communities. • Adoption of the globally successful Innovation District In this context, Westmead provides a ready platform for policy per annum of economic output to Over the last forty years, Westmead has developed a model at Westmead, including new projects and initiatives interventions that support the creation of new, sustainable, unique reputation for its successful integration of healthcare, that facilitate innovation and economic development the state’s economy high value jobs in Western Sydney. research and education. Its innovative model has resulted • Ensuring supply of sufficient, available employment The concept of Innovation Districts, as drivers of local We encourage government to support the concepts and in huge improvements in the quality and effectiveness and industrial land for new investment, including assessing economic development, was recently (2014) discussed by proposals in this document that aims to fill Western Sydney’s of Australian clinical care and improved health practice surplus public landholdings and reviewing their zonings the Brookings Institute who defines Innovation Districts as; growing population growth job-deficit by attracting new internationally. • Addressing ongoing transport and access issues of geographically compact areas where leading-edge anchor investment to Westmead and transforming it into a world- Now Westmead is building on its success by preparing for institutions and companies cluster and connect with start-ups, Westmead renowned Innovation District; one that also contributes a new era of growth. business incubators and accelerators. • Creating a single point of contact, and other ‘economic to better health outcomes in Western Sydney and beyond. In the last four years more than $1.5 billion has been cultivators’ for interested investors and resource a strategy committed by government and universities to upgrade Innovation Districts facilitate to integrate domestic and global promotional efforts Deloitte Access Economics the precinct in response to emerging population demands economic development through • Creating a new civic heart, public domains and high quality July 2016 and the unique health challenges of Western Sydney. This living options which will help attract the best and brightest investment will further boost Westmead’s scale, connectivity to Westmead. and demonstrated ability to innovate. Put simply, Westmead’s the creation of environments We also present an Action Plan for Investment on page 36 time has come. designed to strengthen the outlining individual tasks required to transition Westmead And yet further opportunities exist. Private and non- into an Innovation District by 2036. government businesses and industries can benefit from possibility of knowledge spill-overs, and leverage off these investments in Westmead’s future new product development and Growth scenarios growth and development, in turn stimulating the creation of Deloitte Access Economics was commissioned to model two new, knowledge-based, jobs and industries in Western Sydney. innovation economic growth scenarios for Westmead, above business With the population of Western Sydney expected to grow by Modelled off the successful Toronto Discovery District in as usual. These include: one million between now and 2031, an additional 200,000 Canada, this document presents a case for considering • Business as usual: 30,000 jobs by 2036 jobs will be needed in the region within the next five years Westmead