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Brisbane takes a fresh swing at its strategy for inner-city industry

Business

Brisbane is set to embark on a wholesale revamp of its industrial strategy, saying inner city industrial precincts need renewal and that future “urban enterprise areas” should include a mix of industrial and residential uses.

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A draft strategy released by Brisbane City Council envisages areas of the city where residential, commercial and industrial activities can exist side-by-side or even in the same building.

It says this is needed to maximise the economic and employment potential of future industries, admitting that the city’s industry sector has “spawned goods and services that have changed the world but have often gone unrecognised within Brisbane”.

It says other inner-city areas will join the likes of Albion, Newstead, Bowen Hills, Woolloongabba and Milton as industrial enterprise areas, integrating with Brisbane’s existing knowledge corridor and concentrating “niche manufacturing businesses” in locations with good connections to other parts of the city.

“By 2041, industry will be a key component of Brisbane’s economy, contributing more than $22b in gross regional product and employing 13 per cent of our workforce,” the draft strategy states.

“As our city grows, renewal of our existing industrial precincts, particularly in the inner city, will be critical to increasing the value of our economy.”

It says inner Brisbane alone should experience a 77 per cent increase in its industrial economy over the next 20 years.

The council settled on an industrial strategy just two years ago. However, it decided a review was necessary to take account of how the sector and consumers were responding to the coronavirus pandemic, with rising demand for warehousing and some businesses moving their operations back to Australia to get more control over supply chains.

New industries cited in the draft strategy as being suitable for new inner city enterprise areas include distilling and 3-D printing.

However, major industry areas like Australia Tradecoast and the Port of Brisbane have also been recognised in the draft strategy as likely to change and grow in number, requiring a rethink on elements such as transport and digital infrastructure as well as services for worker.

The strategy proposes that the council take a more active role in promoting the city’s industry sector and celebrating its achievements.

The draft strategy isn open for public comment until August 16.

 

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