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The Hume Economic Development Strategy 2030

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The Hume Economic Development Strategy 2030 HUME CITY COUNCIL THE HUME ECONOMIC DEVELOPMENT STRATEGY 2030 www.hume.vic.gov.au CONTENTS FOREWORD 4 THE ECONOMIC DEVELOPMENT CONTEXT 6 THE HUME CITY CONTEXT 7 COUNCIL’S ROLE IN ECONOMIC DEVELOPMENT 26 STRATEGIC FRAMEWORK 28 STRATEGIC GOALS 30 1. POSITION AND PROMOTE HUME AS A PLACE FOR 30 BUSINESS TO PROSPER 2. PARTNER TO BUILD AND MAINTAIN A GLOBALLY 31 COMPETITIVE ECONOMIC INFRASTRUCTURE 3. SUPPORT INDUSTRIES AND ENTERPRISES TO PROSPER 32 AND DEVELOP SUSTAINABLY 4. STRENGTHEN COUNCIL’S CAPACITY TO LEAD ECONOMIC 33 DEVELOPMENT IN HUME (PARTNERSHIP AND STEWARDSHIP) INDICATORS AND MONITORING 34 COMMUNICATION & REPORTING 35 HUME CITY COUNCIL ECONOMIC DEVELOPMENT STRATEGY 2030 3 FOREWORD The Hume Economic Development Strategy The City has many locational attributes. It is 2030 reflects the important and growing role home to a wealth of innovative companies, is of Hume as a business and employment hub in experiencing significant population and business Melbourne’s North, providing 3% of Victoria’s growth, has strong transport infrastructure, a rich GDP. This strategy also reflects the ongoing multicultural heritage, high quality employment structural change in the global and Australian land stocks, hosts Melbourne Airport and includes economy and the impact this has on Hume as an the Broadmeadows Activities Area. The latter is economy in transition along with the challenges undergoing significant revitalisation as part of its and opportunities this presents. Strong leadership evolution into the ‘Capital of the North’. and broad objective vision is required by Hume Council is strongly committed to positioning City Council to provide stewardship during this Hume as a place for business to prosper, complex period in economic history. directing the necessary infrastructure to support Hume has a long association with traditional business, assisting businesses to become more manufacturing supported by migrant labour environmentally sustainable and providing with many iconic Australian producers featured leadership that supports new investment. strongly. In recent years, due to global Accordingly this Strategy guides Council’s restructuring, traditional manufacturing has economic development activities. Along with experienced decline as cheaper overseas labour the Hume Municipal Strategic Statement, the and inputs have turned business models upside Pathways to Sustainability: an Environmental down. However, other industry sectors are taking Framework, the Learning Together 2030 Strategy on a more important role as Hume’s economy and the Social Justice Charter, it supports the continues to diversify and adapt. For example, Council Plan 2009 – 2013, and the Hume City aero-engineering, health services, transport Plan 2030, (2009 Update). and logistics, and skilled trades are increasingly generating wealth. The need to respond to declining natural resources is also driving business change. HUME CITY COUNCIL ECONOMIC DEVELOPMENT STRATEGY 2030 4 The Hume City Plan 2030, (2009 Update) provides In addition, the Council Plan 2009-2013, 2011 a vision for the prosperity of the City and the Action Update stresses the need to; Economy as follows; • Provide a supportive environment to sustain and PROSPERITY OF THE CITY expand existing businesses, • Attract a diversified range of new business Hume will be a strong, diversified thriving business investment, and centre of northern Melbourne. This can be achieved • Create opportunities for residents to take up by the provision of effective infrastructure networks, local employment opportunities. attracting significant and emerging industries, promoting business investment, while supporting It is in this context that The Hume Economic existing industries and enabling residents to take up Development Strategy 2030 has been developed, a range of employment opportunities. along with a supporting Action Plan to help achieve the vision and objectives of a thriving and ECONOMY prosperous city. Action Plans will be developed A thriving and prosperous community can be every 4 years to align to the Council Plan, enabling achieved through strong economic growth, creating development and achievement of shorter term diversified local employment opportunities across actions that respond to emerging economic and a breadth of industry sectors and reducing the community stimulus, while continuing to support need for extended travel. Providing a proactive the long term goals of The Hume Economic and supportive environment to sustain and expand Development Strategy 2030. In this way The Hume existing businesses in Hume will attract a diversified Economic Development Strategy 2030 complements range of new business investment and create the Hume City Plan 2030 and supports the opportunities for residents in Hume to take up expressed ambitions for the prosperity of the City. employment in these businesses. HUME CITY COUNCIL ECONOMIC DEVELOPMENT STRATEGY 2030 5 THE ECONOMIC DEVELOPMENT CONTEXT Economic development is a service that councils all over Australia provide to their constituencies. The function is enshrined within the Victorian Local Case Study - Business Efficiency Network Government Act as a core activity. “Economic Development is a sustainable Council’s Business Efficiency Network increase in living standards that delivers (BEN) helps Hume businesses to increased income, better education and health embrace environmentally sustainable as well as environmental protection. Economic practices to reduce their carbon Development actions that deliver benefits for the footprints, save money through local community can be undertaken by dedicated efficiencies and network with each organisations, specific individuals or the wider other. The BEN is focused on the community. The role of those responsible for following objectives: 1/ Create low Economic Development is to seek out new carbon businesses, 2/ Stimulate a economic opportunities whilst retaining their diverse economy, 3/ Support and existing business wealth. Economic Development, promote innovation and 4/ Provide a regardless of the size and budget of the Council wide scope of opportunities to support is about the best use of available resources. This business learning. BEN activities focus may result in the attraction of multi-million dollar on energy, water and waste reductions. industry precincts following years of planning and Hume companies, Close the Loop (CtL) investment attraction, or it could be the retention and Futuris, are regular members and of an employment position at the local hardware through this forum their relationship shop. There is often intense competition built up to the point where in 2011 they between communities and states competition entered into a joint venture to take for new Economic Development projects and plastic waste from industry in Hume opportunities. and convert it into a range of useful Economic Development initiatives, regardless of profiles and products (i.e. bollards, their size or complexity ensure these opportunities retaining walls, street furniture). The are realised.”1 Of note, it has a triple bottom line joint venture provides focus: a significant growth opportunity for the existing eWood business started by CtL 8 years ago. 1 ‘Incorporating Economic Development into Local Government Planning’, Queensland Government Department of State Development and Trade, Local Government Associa- tion of Queensland December 2006, Page 1. HUME CITY COUNCIL ECONOMIC DEVELOPMENT STRATEGY 2030 6 THE HUME CITY CONTEXT Developing an economic strategy to 2030 requires The northern Melbourne economy is evolving from an understanding of the present day situation a traditional manufacturing past to a knowledge and challenges, as well as guidance for the future economy future that includes retention of high-tech development of the economy. The context which manufacturing. Small to medium size enterprises provides this basis for future planning for Hume’s (SME’s) are particularly vulnerable in times of economy is detailed here, and provides an important transition and economic uncertainty. understanding of the contemporary issues being The region’s population encompasses many cultures faced in the economy with particular relevance to and offers a workforce with an increasing level of Hume City. It is this contemporary analysis which skills and qualifications. Diversity and creativity helps shape The Hume Economic Development feature strongly in the inner areas, some of which Strategy 2030. are noted for their arts and entertainment offerings, PART OF MELBOURNE’S NORTH while the outer areas are increasingly home to both business and residential development. Hume is part of Melbourne’s North – an integrated A major challenge for Hume is the distance travelled regional economy, stretching from the inner middle to work. The ‘Melbourne’s North – The New suburbs to the semi-rural outer metropolitan fringe. Knowledge Economy’ Report (2009) highlighted The region features excellent road, rail, freight the great disparity between inner and outer parts of and public transport infrastructure, notable for Melbourne in the distance travelled to work and the the presence of Melbourne Airport and significant consequent impact of job productivity. transport hubs in the outer areas such as the multi- modal freight terminal at Somerton. The location of Hume in Melbourne’s North is shown in the following map: Different Areas, Different Images Moreland: Funky, bohemian, arty, green, energy conscious Whittlesea Darebin: Hume Preston Market, cultural diversity,
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