$13 billion a year: Major new report gets the measure of Macquarie Park

A major new report funded by Macquarie University sheds light on the economic force of Macquarie Park Innovation District. The annual impact surpasses $13.6 billion, representing more than half of the Ryde LGA’s gross regional product, seeing the LGA, along with North Sydney, place behind only the City of Sydney in contributing to NSW’s Gross State Product.

The report explores the potential impact of the NSW Government Stage 1 rezoning proposal from the perspective of MPID’s contribution to the NSW economy.

The annual research and development activity of Macquarie Park's rich ecosystem of diverse industries was recently valued at over $700 million annually in 2020.

Further, the district's commercial real estate stands as a hub of value, with each square meter exceeding the standard commercial space value in NSW. This valuation is a result of the innovative ecosystem and highly skilled workforce located in Macquarie Park.

Amidst the achievements of Macquarie Park’s original innovation district, the report highlights the potential opportunity cost of lost R&D investment arising from a shift from commercial to residential development in MPID, estimated at $436-$878 million. The report discusses the true opportunity cost realised if R&D intensive businesses, and the facilities that they occupy, are lost to the region, state or nation.

Despite these concerns, this key research highlights that there is a pathway in our ecosystem which would facilitate for both residential expansion and sustained research and development.

To find out more, download a copy of the report