New Economic Report Identifies Growth in Professional Services

18 December 2013

Bayside’s draft 2013 Economic Development Strategy (EDS) update, now available for community feedback, has identified solid growth in the local professional services economy, particularly in industries such as health, education, property management and professional/business services.

The EDS update also identifies changes in the local industry mix from manufacturing to service industries and the transition of Bayside residents into more highly-skilled and specialised employment.  

The 2013 draft EDS was prepared by Bayside City Council in order to ensure Council’s approach to local economic management remains relevant and effective.

The document outlines an updated five year action plan to direct Council’s resource allocation and economic development based on value adding existing programs such as Council’s successful Bayside Business Network events.  

The plan also recommends exploring new innovative directions including a study of post-retirement income and wealth management for Bayside’s growing senior resident population and developing a strategy for identifying and promoting the key drivers of Bayside’s night time economy such as cafes and restaurants.

Mayor Laurence Evans said there were many pleasing economic trends reported in the draft Strategy that were positive indicators for future generations of Baysiders.

Despite this, he said Council must continue to be proactive in supporting and promoting local businesses in order to grow local job opportunities and ensure that Bayside remained a vibrant City that attracted a diverse range of new businesses.

Bayside’s draft 2013 Economic Development Strategy update is available for community feedback until February 2014.  For further information visit Council’s website or phone 9599 4444.

Page last updated: 21 Jan 2014