Have your say on Sydney’s economic prosperity

Our discussion paper sees our city prepared for the future, able to withstand major shocks and stresses, and respond to a changing environment.

The pandemic has put our economy through an unprecedented test of resilience. The good news is we’re on the path to recovery… but we still have some way to go.

We’ve created a new economic strategy discussion paper that sees Sydney prepared for the future, with the capacity to withstand major shocks and stresses, and stay responsive to a changing environment.

For the last 10 years, the City of Sydney has actively supported businesses, workers, residents, visitors, students, investors and other participants in our local economy. We’ve done this under the guidance of our economic development strategy adopted in 2013.

It’s now time we prepare our next economic strategy, particularly in light of the last couple of years, and the changes and uncertainty facing our city and economy.

Pivotal to the creation of our next economic strategy is the discussion paper. The paper outlines a short-term vision that will guide the city on a long-term path ensuring its economic resilience and securing its future prosperity.

We’d like to hear your feedback and ideas to help us to shape our next economic development strategy.

The discussion paper proposes 4 strategic directions that will transition Sydney to a strong and resilient economy:

  • Transition to a green and circular economy
  • Build an innovation economy
  • Strengthen our inclusive economy
  • Revitalise our city centre

“In December 2013 we published a ten-year plan to strengthen our economy and support business. Since then, the pandemic and climate crises have had a devastating impact on our economy and our community,” the Lord Mayor Clover Moore said.

“We need to examine the new challenges and consider how to create a sustainable and resilient economic future. The new strategy will set out a short to medium term framework, with high-level actions for the city’s economic recovery and long-term prosperity.

“Sydney is home to Australia’s largest local economy, generating more than $138 billion per annum prior to the pandemic. As Australia’s global gateway our economy plays a significant role in supporting and influencing economies far beyond our geographic boundary, so it is important our economy is thriving and ready to meet the challenges and opportunities of the future.

“We look forward to hearing from businesses big and small, employers, workers and our wider community as we create a plan for a resilient, sustainable and fair economy.”

The economic strategy paper’s vision to build a strong and resilient economy aligns with the City of Sydney’s recently adopted strategic plan, Sustainable Sydney 2030–2050 Continuing the Vision. This sets out detailed strategies and actions plans including the Central Sydney planning strategy as the framework that supports future growth.

Visit Sydney Your Say to provide your feedback on our city’s future.

We’ll use your feedback to develop a strategy that will be considered by Council in 2023/24.

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