Global Sydney Forum: Capitalising on the Central/Ultimo/Camperdown Precinct

An international planning expert will today tell Sydney’s top business leaders and planning and infrastructure experts that the city must embrace and encourage the growth of innovation precincts in order to grow jobs, create neighbourhoods and boost economic investment at the Global Sydney Forum.

The forum at ICC Sydney, hosted by Lendlease, PwC, the Committee for Sydney and the Sydney Business Chamber, will explore with local and international experts the innovation and entrepreneurship that is happening in the southern CBD, and how new industries and jobs can be created for NSW.

Julie Wagner, from the Brookings Institution (USA), will cite examples of where innovation precincts have been established across the world and how Sydney has the perfect opportunity to create them here, especially in the Central Station, Camperdown and Ultimo precincts.

“Innovation precincts are emerging in gateway cities around the world – they are essentially clusters of research universities, hospitals, companies and startups that have come together organically and are supercharged by government and private sector investment,” Ms Wagner said. 

“International experience shows us cities can support only a small number of these precincts, so a city of Sydney’s size should focus on distinct areas where there is already a concentration of strong innovation assets including research and academic institutions.”

“Innovation precincts are an increasingly potent strategy for turning translational research – research that has market value – into job creation and broader economic growth,” Ms Wagner said. 

Committee for Sydney Director of Policy Eamon Waterford said new jobs and economic growth were driven by innovation precincts that were dense with ideas, businesses, researchers and multi-disciplinary teams. 

“Because innovation requires breaking down silos between government, academia and the private sector, places that bring these groups into close proximity are central to the economic growth of Sydney. The Camperdown/Ultimo collaboration area presents us with the perfect opportunity to put this model into practice,” Mr Waterford said. 

Sydney Business Chamber Executive Director Patricia Forsythe said the Camperdown/Ultimo collaboration area was identified by the Greater Sydney Commission as part of the innovation corridor and had the ingredients for success. 

“This area has world-leading education, health and training institutions surrounded by high density and mixed use precincts, which is the perfect combination for an innovation 
precinct to grow,” she said. 

“There is a still much work to do but the catalyst could be a redeveloped Central Station precinct and the investment in major infrastructure projects such as the Sydney Metro. 

“Sydney CBD is a gateway city that competes with London, New York, Hong Kong and Singapore for capital knowledge workers and the tourist dollar so we must continue to focus on how we can remain globally competitive into the future,” Mrs Forsythe said.

NSW Minister for Transport and Infrastructure Andrew Constance said: “We are very pleased to work with and hear from industry looking at all opportunities to grow our innovation precincts as part of the transformation of our global city”. 

Other speakers at today’s forum include: 
Sydney Business Chamber Executive Director Patricia Forsythe
Committee for Sydney Executive Chairman Michael Rose AM
Greater Sydney Commission Chief Commissioner Lucy Turnbull AO
PwC Partner Jeremy Thorpe 
The Hornery Institute CEO Kate Meyrick
ICC Sydney CEO Geoff Donaghy
Lendlease National Development Director, Property, David Rolls
NSW Transport and Infrastructure Minister The Hon. Andrew Constance MP

Kylie Adoranti

Public Affairs Manager

0450 784 616
Kylie handles media relations for the Sydney Business Chamber and the Sydney Business Chamber, Western Sydney. With a keen interest in politics and communications coupled with her background in journalism, Kylie aims to strengthen relationships with journalists and to expand the awareness of the Chamber's priorities and projects.