Economic Development Policy 2024

ECONOMIC DEVELOPMENT POLICY

Melbourne is ideally placed to lead prosperous and environmentally sustainable development, while respecting workers’ rights, facilitating fair employment opportunities and advancing social responsibility. Our city’s future growth – in population, jobs and global influence – is an opportunity to engage old and emerging industries in exciting initiatives that put our planet first.

*Principles*
1	Economies exist within and are dependent upon natural systems. This is as true in the centre of Melbourne as anywhere.
2	Economies do not exist to serve themselves; economies, and the businesses within them, exist to serve human society.
3	All businesses should respect human rights, meaning they should avoid infringing on the human rights of their staff, their customers and the public. Where abuses occur, victims must have access to effective remedies through judicial and non-judicial grievance mechanisms.
4	The City of Melbourne lies at the heart of the integrated labour market that is metropolitan Melbourne. Government is therefore required to understand and plan for the metropolis, without which it cannot understand and plan for its centre.
5	The central Melbourne economy and economic land uses, significantly altered by the COVID-induced recessions, are likely to continue to shift. Government must understand these trends and plan for their consequences.
6	The City of Melbourne is among the areas most affected by the emergence of the gig economy, especially ridesharing and food delivery. Negative impacts on workers must be understood and ameliorated.
7	Government should support businesses that embrace social justice and social and environmental responsibility.
8	The City of Melbourne is home to a world-renowned knowledge sector, and the economic development of associated industries and the identification of jobs of the future are central to Melbourne’s prosperity.
9	Council has an important role to play in supporting innovation and entrepreneurship of micro and small businesses.
10	City-to-city links in the Asia-Pacific region should be an increasing focus and source of economic development.
11	Council’s trade missions should promote social, environmental and employment best practice.
12	Council should encourage all participants in the City’s economy to produce, buy and use durable goods rather than disposable and short-life goods.
*Aims: Fostering a healthy business environment*
1	Focus on triple bottom line outcomes (financial, environmental and social) in all procurement and business partnerships Council enters into.
2	Ensure that all council sponsorship, funding or tendering arrangements with external commercial organisations are only entered into once organisations have been assessed for environmental and social outcomes, and respect relevant employment conditions and union rights.
3	Support businesses to go beyond carbon neutrality and aim to achieve a net reduction of carbon from the atmosphere.
4	Advocate for the regulation of businesses that rely on and exploit gig economy workers, and provide direct support to such workers in the meantime.
5	Attract and actively promote industry leaders in green technologies and renewable energy.
6	Work closely with city based Universities, TAFEs and research institutions to identify and plan for jobs of the future.
7	Work with Indigenous people to facilitate their participation in the economy as they determine.
8	Work with communities and businesses to encourage the employment of refugees.
9	Encourage full economic participation of Melbourne’s diverse, multicultural community.
*Aims: Supporting local businesses*
10	Support local emergent and micro businesses and producers of high quality and durable goods to access space in the City of Melbourne by expanding current incubator space and working with commercial property owners and developers.
11	Work with community groups and businesses to promote responsible consumerism and its benefits for personal finance and the environment.
12	Work with community groups and companies on the repair and repurposing of damaged or unwanted items.
13	Partner with social enterprises that have developed alternative business models to help them establish and thrive in a socially and environmentally responsible manner.
14	Promote and support the local-foods industry and the benefits of a city having access to fresh seasonal produce grown locally.
15	Support small-to-medium local enterprises to interact with small-to-medium local enterprises in cities in the Asia-Pacific, particularly those reliant on or drivers of new, emerging, renewable and sustainable technologies.
16	Investigate world best practice for providing seed funding for local, sustainable and socially responsible businesses.
*Aims: Tourism*
17	Work with major businesses and peak bodies to increase the energy efficiency and carbon neutrality of the hospitality and tourism sectors.
18	Actively promote businesses that are leading the way in sustainable hospitality and tourism practices.
19	Actively promote the City of Melbourne’s eco-tourism and sustainable travel experiences.
20	Ameliorate the impact on local housing availability by taxing and limiting the extent of short-stay accommodation in private residential dwellings.