New report highlights key role for Government in innovation districts to grow jobs and future industries
Connect Macquarie Park Innovation District (CMPID) have welcomed Committee for Sydney’s (CfS) new report on The Role of Government in Innovation Districts which was launched at an event on 22 May 2023.
The new report calls on the government to secure the jobs and industries of the future, with five key actions to fire up powerhouse innovation districts including Macquarie Park which is home to over 72,000 high-value jobs, 45,000 students and is home to leading anchor institutions.
Dr Rob Stokes, Chair of CMPID: “Innovation districts including Macquarie Park are powerful places that drive growth and prosperity that can build a more interesting and equitable city.
Without the leadership of the NSW Government, Sydney’s innovation districts are under existential threat, as institutional investment is enticed elsewhere.”
Davor Jozic, General Manager of CMPID: “We call on the NSW Government to set the strategic direction for Sydney’s innovation districts including Macquarie Park to ensure we build on success and provide a platform for entrepreneurs, researchers and the corporates to accelerate their growth.”
Macquarie Park is uniquely placed to support the growth of industry and we look forward to working with the NSW Government to identify appropriate planning and innovation policy frameworks to support further private sector investment including delivery of specialist R&D spaces, labs and affordable floorspace for startups in the district.
At the report release event Kathy Jones, Daniel Hunter and Jeremy Gill outlined:
Developing a spatial, place-based economic strategy is imperative for NSW. Each region in New South Wales boasts distinct economic specialisation, ranging from Randwick’s health precincts to Central’s tech hub. It is essential for the government to strategise infrastructure and investments plans tailored to support these unique opportunities across the state.
Increasing investment does not solely rely on new governmental funding. By leveraging existing investment programs and restructuring funding streams, we can implement a more cohesive strategy that fortifies our innovation districts.
Sydney faces competition from other states and global metropolises in attracting and retaining local businesses. With a growing number of startups seeking overseas opportunities for innovation, it underscores the necessity of preserving and enhancing our talent pool. Investing in innovation districts is crucial to maintaining their allure to businesses and preventing talent drain.
CMPID was part of The Innovation Districts Alliance which provided input into the report and will continue to meet and progress the report’s recommendations with the Government. Members include Committee for Sydney, Property Council of Australia (NSW Division), Business NSW, Australian Nuclear Science and Technology Organisation (ANSTO), Campbelltown Health and Education Precinct, Liverpool Innovation Precinct, Macquarie University, University of New South Wales, University of Sydney and University of Technology Sydney.
Davor Jozic, General Manager and Dr Rob Stokes, Chair of CMPID at the launch of the report.
