25 Jul, 2016

City key player in state’s economic transformation

The Lord Mayor has welcomed today’s CommSec report that shows the South Australian economy is growing and he has reiterated how the city is central to this impressive growth.

Today’s CommSec State of the States report shows South Australia’s performance is improving in the areas of economic growth, equipment investment and housing finance.

In the key area of economic growth, South Australia moved from sixth position to fifth in the last quarter, which is excellent news for the State and for our City.

The Lord Mayor said SA rising to fifth place in CommSec’s report is something that needs to be celebrated and that it was good to see the State move up the Nation’s leaderboard.

“The City of Adelaide is leading the State’s economic growth, with South Australia now ranked fifth according to this respected report, based on an increase in city-based knowledge economy jobs,” said Martin.

“Whilst the low retail trade figure is concerning, we are confident that noted improvements to the job market and recently announced public infrastructure projects such as the tram extension on North Terrace, will see this improve in the coming year.”

Property Council SA Executive Director Daniel Gannon embraced the report and the city’s role in a transitioning economy, and said smart cities are built on smart decision-making capabilities.

“As the Council helps transform Adelaide into a smart, green, liveable and creative city of the future, the property sector will play a pivotal role in better managing infrastructure and the consumption of resources to build a strong city brand,” said Daniel.

“Cities can drive innovation in the knowledge economy through urban infrastructure, resulting in liveable, vibrant cities that are critical to South Australia’s prosperity.”

Chief Executive of Business SA Nigel McBride also welcomed the report and commended the City of Adelaide on initiatives that contribute to growth in the City and the State.

“If you look at Council’s strategic objectives and recent actions, their focus on infrastructure, technology and sustainability can be transformational for the economy by helping to attract international trade, investment and tourism opportunities,” said Nigel.

“I also commend Council’s Strategic Plan ambition to increase knowledge sector employment by 8000 jobs by 2020 which is good news for business.”

For more information

Matt Halliwell