Draft City Economy Strategy

Council’s role in local economic development changes based on its level of control over various initiatives, policies or infrastructure. 

Sometimes, Council has a lot of control (e.g. land use and strategic planning, disbursement of Council grants, and business support programs), other times there is capacity to influence (e.g. strategic partnerships, visitation, and state and federal policy or legislative changes) and occasionally control is limited but monitoring change is still important (e.g. inflation, demographic changes and macroeconomic changes and trends).
 

Yes, the City Centre, and all neighbourhoods and wards play an important part in Parramatta’s economy and are considered in the Strategy. 

Adopted in August 2024, Parramatta 2050 is Council’s global city vision that seeks to position Parramatta as a global city by leveraging its strengths and identifying key ‘Game Changers’ and enablers. It also sets a number of key economic imperatives including a target for 150,000 additional jobs by 2050. 

The previously exhibited draft Economic Development Strategy was developed prior to the adoption of Parramatta 2050 and therefore needed to be reviewed and updated to respond to these new economic targets.
 

The City Economy Strategy responds to both the Community Strategic Plan (CSP) and Parramatta 2050 to look across a 10-year horizon, and identify long-term goals and aspirations for the future.

This Strategy identifies the priorities and actions that will shape our City’s journey to a become prosperous, inclusive, sustainable, and future- focused global city.

It positions Parramatta as a critical driver of Greater Sydney’s success.
 

The City Economy Strategy’s vision of a resilient and future-focused economy creating 150,000 new jobs by 2050 takes direction from the Community Strategic Plan (CSP) and Parramatta 2050.

Recognising the interconnected nature of economic outcomes in Parramatta, the City Economy Strategy works in concert with a number of other plans at Council most notably:
•    Night-time Economy Strategy
•    Visitor Economy Strategy
•    Creative Parramatta (Cultural Strategy)
•    Environmental Sustainability Strategy
•    Social Sustainability Strategy
•    Smart City & Innovation Strategy
•    Local Strategic Planning Statement
•    Integrated Transport Strategy

The City Economy Strategy does not seek to duplicate the efforts of these strategies.