Investment in Melbourne's West
Industrial land development in Melbourne’s west, together with significant residential development and population growth, has renewed investment interest in the region.
Melbourne’s west entered a phase of significant industrial land development that accelerated with the opening of the West Gate Bridge and the Western Ring Road. This spurred a wave of investment in logistics-based industries and led to the formation of the Western Industrial Node, recognised in metropolitan policy as one of three major industrial nodes in Melbourne.
The renaissance of industrial land development in Melbourne’s west, together with significant population growth, has renewed interest in the region for major investment and development. The region is highly accessible to Melbourne’s port and air freight hubs, and to the major rail and road networks linking Victoria to the eastern seaboard markets.
The growing regional population offers important opportunities for new business investment. There are numerous investment opportunities in Melbourne's west.
To better navigate structural change in the Australian economy, our region needs to foster creation and growth of advanced manufacturing businesses higher up the value chain.
There are opportunities to better support and develop existing Food and Beverage Manufacturing/Processing industry clusters in Brimbank, Melton, Hobsons Bay and Wyndham and make Melbourne’s west a centre for Australia’s food processing industries. Our region is uniquely placed to offer strengths in the entire food cycle—not only ‘paddock to plate’ but also recycling and waste services for food processing by-products.
Melbourne’s west needs to attract more businesses within the growing sectors, especially those that are knowledge-based, professional and skilled, and involve higher employment levels. There are significant opportunities to foster services sector job growth through investment and development in Footscray as a designated Central Activities Area, the East Werribee Precinct, within the Principal Activities Areas of Melbourne’s west such as Sunshine and Moonee Ponds and in urban renewal and land use change areas such Essendon Fields Business Park, Airport West and the Brooklyn Industrial Precinct.
There is merit in examining direct measures by governments to facilitate business attraction to the designated activity areas of Melbourne’s west thus supporting jobs growth in the region. Such measures could include concessions on payroll and other taxes being granted to businesses relocating here and/or relocation of public sector agencies to the region in a similar fashion to the relocation of the Transport Accident Commission to Geelong.
To learn more about the targets, priority actions and responsibilities for enhancing the Productive Economy in Melbourne’s west, please download a copy of the Western Agenda (links below).
If you would like to discuss Productive Economy issues with LeadWest, please contact us.
|Jul 4, 2013||Jobs and Industry Strategy for Melbourne's West||6.81 MB|
|Jul 4, 2013||Looking West||4.65 MB|