The Regional Economy in Melbourne's West
Melbourne’s West is now the fastest growing area in Australia. It’s at the forefront of what Australia is becoming today – a largely urban society, fast growing, innovative, culturally diverse and inclusive. Population forecasts indicate that the region will accommodate more than 40 per cent of metropolitan Melbourne's population growth over the next 40 years.
We’ve attracted major investments and new infrastructure projects such as the $4.3 billion Regional Rail Link and $2.25 billion Western Ring Road upgrade. We have a diverse, skilled and qualified local workforce that’s growing all the time. Business innovation is growing and encouraged, and we’re home to a wide range of business services. A diverse range of greenfield and brownfield sites are available for development. And our suburbs offer all kinds of housing and lifestyle opportunities, with plenty of premium leisure and recreational choices.
There are numerous investment opportunities in Melbourne's west. The region is growing rapidly to become an economic powerhouse with a strong knowledge economy. Our region's advantageous location and multifaceted infrastructure, coupled with a young and highly skilled workforce, provides for significant business opportunities.
Melbourne’s West is a region of opportunity. It is set to lead industry and employment growth in Victoria over the next 30 years and will host around 13 per cent of metropolitan Melbourne’s total employment growth up to 2046.
Over the past decade its population has grown markedly and this growth is expected to continue over the next 20 years – from around 750,000 today to 1.1 million by 2031 – attracting around a quarter of metropolitan Melbourne’s labour force growth over the same period. And that workforce is fast becoming more qualified and skilled.
Growth is supported by major infrastructure projects such as CityLink, the Western Ring Road and the $4.3 billion Regional Rail Link, underpinned by the region’s pro-investment culture. In the future, the region’s economic potential will be further improved by major committed or planned 'city-shaping’ projects such as the East West Link ($8 billion), Melbourne Metro Rail ($6 billion) and the Outer Metropolitan Ring Transport Corridor ($2 billion).
Few other Australian regions can match its rapidly growing, highly qualified and diverse labour force, proximity to the CBD, ports and airports, and stock of sites ready for development. This opportunity is set to catalyse Melbourne’s West as a powerful and diverse economy.
There are many players involved in the economic development of Melbourne's west, including local governments, businesses and communities.
Melbourne's West Export Network, supported by Austrade and Victoria's Department of Business and Innovation and the councils of Melbourne's west, is available to help businesses grow into successful exporters.
The Western Region Business Club is a networking event aimed at businesspeople and professionals from small to medium sized firms in Melbourne's Western Suburbs.
LeadWest's Western Agenda details some of the ways in which we are helping to foster the sustainable economic development of Melbourne's west.
The Jobs and Industry Strategy for Melbourne's West (links below), prepared by SGS Consulting, is a joint effort – from the Western Melbourne Regional Development Australia Committee, LeadWest, the cities of Brimbank, Hobsons Bay, Maribyrnong, Melton, Moonee Valley and Wyndham – to find ways to build on our significant strengths, overcome our challenges and rebalance Melbourne towards the West, where major growth is occurring.
|Jul 4, 2013||Jobs and Industry Strategy for Melbourne's West||6.81 MB|
|Jul 4, 2013||Looking West||4.65 MB|