The Universities of Sydney and Western Sydney have released recommendations on developing an education, health and research global centre of excellence, through their Vision for the Greater Parramatta and Olympic Peninsula (GPOP). Both universities commissioned the report card to identify how the region is faring and how best to leverage the area’s expected population boom with jobs, innovation and transport. Over the next 30 years, the largest population increases in NSW will be seen in western Sydney.
- More than $10 billion in public and private investment expected to be delivered within the GPOP area in the next 5 to 10 years;
- Parramatta is forecast to almost double its economic growth rate to 4.6 per cent in the next three years – that’s 70 per cent more forecast population growth than the Eastern Harbour City;
- GPOP is experiencing a 7.1 per cent increase in the proportion of tertiary qualification holders since 2011. This far outstrips the rest of Sydney (3.4 per cent), NSW (3.0 per cent) or Australia (4.3 per cent). This trend is particularly visible in Westmead, where there has been an 8.6 per cent increase in tertiary qualification holders;
- The Westmead Health and Education Precinct is attracting globally competitive talent and jobs. This precinct alone currently produces $1.9 billion of economic output, expected to increase to $2.8 billion by 2036.
- The report card notes that while the growth of the region is impressive there are issues that need to be addressed included the need for more local infrastructure and active transport, better collaboration between all three levels of government and industry and a renewed focus on commercialisation to attract and engage a wider range of private companies.