THE CITY OF PERTH
A WORLD ENERGY CITY
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PAGE HEADING
THE LORD MAYOR
ADDRESS
Perth is a modern and vibrant capital city, boasting an enviable lifestyle, great geographic location and an attractive investment climate. As the capital city of one of the world’s most significant mineral regions, Perth is rapidly developing as a hub for the international energy industry and is home to many of the world’s largest and most influential mineral and energy firms. The fundamental strength of our economy, especially our capabilities in the resource sector, ensures that both the city and the state are competitively placed for future investment and growth. Over the past ten years, Perth has had one of the most consistent rates of economic growth in Australia, with an average growth rate of approximately 4%, well above the national average of 3.5%. Perth’s growth is driven by a mixture of local and international firms operating in a diverse range of industries, supported by a stable political environment and significant level of local demand. While the state of Western Australia is fortunate to have worldclass reserves of natural mineral and energy resources, the City has become home to an equally impressive resource – a highly
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THE LORD MAYOR ADDRESS
educated, skilled and productive workforce – gathered here by the strength of our tertiary institutions, economic opportunity and world-class lifestyle opportunities. Recent announcements of large-scale capital works projects throughout the city and surrounding areas means that Perth will change dramatically over the next ten years, to better reflect the growing global importance of the city. These developments provide great opportunities for investors and will drive further economic growth, creating more jobs and stimulating commerce in all industries. It is my great pleasure to show you some of Perth’s greatest strengths as an investment destination and I encourage you to consider the potential that Perth represents for you and your business. Yours sincerely,
The Right Honourable the Lord Mayor Ms. Lisa Scaffidi
THE CITY OF PERTH
A WORLD ENERGY CITY The City of Perth is internationally renowned for its impressive investment climate, which combines long term political stability and low sovereign risk with effective modern infrastructure and a highly skilled and innovative workforce. As the capital city of Australia’s largest state and one of the world’s most productive and diverse mineral regions, Perth is a dynamic modern city, globally recognised as the driving force behind Western Australia’s rapidly expanding economy. Driven by a strong industry base and a large and highly motivated workforce, Perth provides businesses with an attractive commercial opportunity, close to the developing economic powerhouses of Asia and
within reach of traditional business centres in Europe and the United States. Perth continues to strengthen its position as a city of international significance and a meeting place for talent innovation and industry. As a result multinationals are relocating to the city, taking advantage of the attractive business environment and incredible lifestyle opportunities Perth presents.
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A WORLD ENERGY CITY
THE CITY OF PERTH
A CONNECTED CITY Perth is the western gateway to the world’s second largest economy- China. Located in Australia’s South-West, Perth is a picturesque modern city, strategically positioned in close proximity to the rapidly developing economies of Asia.
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A CONNECTED CITY
This advantageous geographic position means that Perth is perfectly placed for long-term economic growth, as trade with Asian nations becomes increasingly prosperous and demand for minerals and energy from these growing populations continues to increase.
THE CITY OF PERTH
WA & THE ENERGY INDUSTRY Western Australia is blessed with an extraordinary natural endowment of mineral and petroleum resources and is one of the world’s most diverse and productive mineral regions. Whilst the mining industry is mature and has led to the State becoming a major player in the global commodities market, the petroleum industry is still developing, with much of the State yet to be explored. In 2010 alone, Western Australia was responsible for 59% of Australia’s total mineral and energy production and 68% of national mineral and energy exports. WA accounts for 89% of Australian crude oil and condensate production and 71% of Australian LNG production. There are 27 mineral and energy projects at an advanced stage of development, as of the end of 2010. These projects have a net worth of over $93.1 billion, with 70% of the committed capital expenditure accounted for energy projects, representing an increasing investment in the development of the West Australian energy industry. On a global scale, Western Australia is responsible for approximately 7% of world LNG production and this figure is set to rise rapidly over the next ten years as new projects currently in development come to production. It is estimated that by 2020,
Western Australia will be second only to Qatar in global LNG production as these projects and others bring about a significant increase in production capability. In recognition of the growing global importance of the West Australian energy industry, Perth is the only Australian member city of the World Energy Cities Partnership, a partnership of 18 cities, which promotes the exchange of industry knowledge and economic development expertise and strategies between its member cities.
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WA & THE ENERGY INDUSTRY
THE CITY OF PERTH
A PROSPEROUS CITY Perth has the highest per capita population of self-made millionaires in the world. Western Australia boasts an open, dynamic economy built on strong international investment and trade. For the past ten years, the State’s economy has exceeded the national economic growth rate by more than half a percent. In 2009/10 the WA economy expanded by 4.2% and Western Australia accounted for 43% of Australia’s $206.6 billion exports of goods in the same period; a contribution greater than that of other key Australian states, New South Wales, Victoria and South Australia combined. Perth is a growth city with a long history of strong economic performance. In 2009/10 Perth contributed over $30 billion to the West Australian economy, driven by the underlying strength of a diverse business base. The city has strong expertise in the knowledge based service sectors, developing creative industries sectors, as well as a large and highly motivated workforce.
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A PROSPEROUS CITY
THE CITY OF PERTH
A BUSINESS CITY Perth is home to the head offices of over 780 Australian Stock Exchange listed companies, more than any other capital city in Australia. Perth is fast becoming the leading resource industry city in the Asia Pacific region, as international mineral and energy companies flock to the city. There are more than 30 international oil and gas companies and more than 40 oil and gas service companies with offices in Perth, including BHP Billiton, Rio Tinto, Schlumberger and Apache Energy.
The remote nature of many mineral and energy operations in regional WA means that these areas have limited facilities and are not well connected with the global business community. Perth provides an ideal location for companies with operations in regional WA to manage their business, with all the modern facilities necessary to run a successful enterprise and a close proximity to both regional operations and international opportunities.
A LIVEABLE CITY Perth is Australia’s sunniest capital city, with more than eight hours of sunlight a day.
the world, Perth has been one of the world’s top ten most liveable cities since 2004.
Perth is world-renowned for its appealing outdoor lifestyle, and in particular its great Mediterranean climate.
Perth’s lifestyle benefits also extend to a competitive cost of living. According to the Mercer Worldwide Cost of Living Survey 2010, Perth ranks as more affordable than many other Asia-Pacific locations, including Tokyo, Hong Kong, Singapore, Sydney, Brisbane and Melbourne.
According to the Economist Intelligence Unit’s World’s Most Liveable Cities Survey, which assesses living conditions in over 140 cities around
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A BUSINESS CITY, A LIVEABLE CITY
For further information, please contact the City of Perth Economic Development Unit. Telephone: +61 (0) 8 9461 3141 | Email: ecodev@cityofperth.wa.gov.au | Website: www.perth.wa.gov.au/ecodev