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ISSUE 15 | June 2022
Winners: The Blacktown Local Business Awards typify the commitment to excellence among the local business community.
RIGHT HERE – RIGHT NOW
Blacktown’s a growth standout STEPHEN BALI lacktown City is one of the best kept secrets regarding economic activity. How often do we hear about the massive Government investment into Parramatta, Liverpool and Penrith council areas and Blacktown City struggles to get its fair share? Blacktown City’s economic growth over the past five years to June 2021, including the COVID lockdowns was 4.4% per annum. The annual growth over the past 5 years is a mixed story with preCOVID economic growth at 6.75% p.a., followed by a 1.1% contraction in 2020, with a rebound in 2021 of 1.5%. Comparing Blacktown City to the combined council regions of Penrith and Liverpool, the combined councils are economically larger by 12% but economic growth rate was at three-quarters the pace of Blacktown. Blacktown City is currently a $22.35B economy with almost 200,000 residents employed and 153,000 jobs located in the area with over 27,000 registered businesses. In twenty years, Blacktown City economy is expected to pass $52B with a population larger than Tasmania. The ingredients are all present for entrepreneurial success in Blacktown. Blacktown City has a booming population through the north-west growth area; the establishment of Australian Catholic University in Blacktown CBD and three TAFE colleges to improve skills and knowledge; and one of the fastest regional economic growth rates in the country. Where are the future business opportunities in Blacktown?
B
Artist impression of a future Blacktown CBD.
The professional, technical, and financial service job opportunities has lagged in Blacktown compared to rest of Australia. Many people, whether growing up in Blacktown City or through professional migration programs find it difficult to obtain professional work in Blacktown and have to travel into Sydney for high value jobs. The recent pandemic and the growth in working from home will bring more high value jobs into Blacktown with the potential expansion of shared offices in the local area set to soar. Manufacturing continues to be a major employer in the region. From 2001
Key Employment Categories in Blacktown City
to 2015 the industry has only marginally increased but since 2016 the sector grew over 20% in output with only 3% increase in jobs. Blacktown manufacturers are substantially improving productivity with innovative new technologies with a relatively stable workforce but there is a demand to improve workers
skills so the industry remains competitive. Healthcare and welfare sectors are set to increase substantially. Many factors contribute to this including population increase; improved health support services; the need to provide important mental health and welfare support services. Hotel accommodation supporting the visitor economy is set to grow with major hotel chains negotiating to commence new construction. Motor racing park, Sydney zoo, Featherdale, Sydney Coliseum at WestHQ; Raging Waters plus the new sport and recovery centre in Blacktown International Sports Park are set to transform the visitor economy in the coming years. Tertiary education is set to expand in Blacktown City with Australian Catholic University (ACU) anticipating to reach 5,000 students in the 5 years. ACU is providing local residents opportunities to develop their skills and knowledge for the future. ACU is offering courses in nursing, sports science, teaching, business, law and social science; all these areas will be the growth opportunities for the future. The place to maximise your future is right here in Blacktown City! Stephen Bali is State Member for Blacktown.
General Economic Data for Blacktown City Sector
Employment Numbers
Value Added $m
Retail & Wholesale Trade
26,606
3,217.7
Transport, Postal, & Warehousing
19,887
2,687.4
Construction
18,472
2,505.7
Health Care & Social Assistance
18,419
1,420.7
2021
2041 estimates
Manufacturing
17,644
2,130.6
Gross Regional Product
$22.35 billion
$52.88 billion
Public Admin, safety, support
12,781
1,493.1
Population
405,000
612,500
Education & Training
11,855
921.5
Local jobs
153,160
275,000
Services: professional, scientific & technical
10,932
1,001.2
Employed residents
193,998
330,000
Food & Accommodation
6,178
262.9
Registered local businesses
27,247
44,000
Financial, real estate, media & communication
4,395
200.8
Economic Growth
1.1%
4.4%
Arts & Recreational
2,281
135.6
