Draft Economic Development Action Plan 2024–2026

We are refreshing our approach to support the growth of our local economy and businesses.

Our aim is to respond to new opportunities and challenges while also assessing the impact of our existing programs and services.

We want Glen Eira to have a thriving and sustainable local business economy, working together to support growth, pride and investment, so it is a great place to work, shop and visit.

We are considering Glen Eira’s current economic landscape as it continues to evolve, to gather better evidence and data of local needs.

We want your feedback and ideas on the three key themes and actions identified that will direct Council’s focus on economic development and business support over the next two years.

The consultation is open from 10 April until 8 May.

Glen Eira's Economic Profile

Glen Eira has close to 152,000 residents and is forecast to grow to 176,389 by 2036.

86,485 residents are employed and the top areas include:

  • Professional, Scientific and Technical Services 11,262 jobs (14.1 per cent)
  • Health Care and Social Assistance 11,058 jobs (13.9 per cent)
  • Education and Training 8,492 jobs (10.7 per cent) • Retail Trade 7,431 workers (9.3 per cent)
  • Financial and Insurance Services 5,222 workers (6.5 per cent)

There are 45,384 jobs in Glen Eira, significantly less than the number of workers. The top industries are:

  • Healthcare and Social Assistance 9,329 jobs (20.6 per cent)
  • Education and Training 7,213 jobs (15.9 per cent)
  • Retail Trade 5,519 (12.2 per cent)
  • Professional, Scientific and Technical Services 4,373 jobs (9.6 per cent)
  • Construction 4,136 jobs (9.6 per cent)

Glen Eira’s activity centres accommodate just over half of all jobs in the area (52.2 per cent):

  • The six major activity centres (Carnegie, Elsternwick, Bentleigh, Glen Huntly, Caulfield and Moorabbin) accommodate 25.25 per cent of jobs.
  • Jobs in Neighbourhood Activity Centres range from 0.34 per cent in Hughesdale to 6.5 per cent in Caulfield South.
  • Around 44 per cent of employment occurs outside the main activity centre areas.
  • Industries represented in the various centres includes retail/hospitality and business services.

The shift in remote and homebased work patterns, arising from the COVID-19 pandemic is largely here to stay with many people continuing to do some remote or home-based work.

As a municipality with one of the highest concentrations of office workers Glen Eira is particularly representative of this change.

The growth of e-commerce has accelerated since the COVID-19 pandemic and accounts to an ever-increasing share of overall retail expenditure.

There are now more home-based businesses making and selling online, a shift toward multi-channel (physical and online) selling for retail and hospitality businesses, and increased freight movements and requirements for freight access.

The general decline in conventional place-based retail does not signal the end of physical shops. Rather, it has led to increased emphasis on differentiation and experience in retail centres. With its strong base of attractive, high-profile, and vibrant shopping, dining and recreation areas, Glen Eira is well-placed to meet this need.

Public spaces in activity centres play a vital role in supporting local businesses. Footpaths and public spaces can provide an extension of the shopping experience, outdoor dining spaces and opportunities for people to gather and stay longer in the area.

While Council’s direct impact on the local economy is limited, it plays an important strategic and operational role in creating a supportive environment and vibrant places to enable businesses to thrive.

Councils role includes:

  • Funding and delivering services and infrastructure.
  • Strategic policy and directions for activity centres.
  • Being the local planning authority.
  • Creating accessible, green and inviting streetscapes that connect people with their local shopping strips.
  • Enhancing amenity of activity centres, so they are attractive places to shop, visit and do business.
  • Attracting new businesses.
  • Providing business support, advice and training.
  • Supporting new businesses to establish and grow.
  • Partnering with local businesses, industry sectors and the broader community.
  • Providing opportunities for businesses to work together, network, to share knowledge and experience.
  • Advocating on behalf of the community to the Victorian and Federal Governments for funding, services or infrastructure; i.e. funding for transport, community infrastructure or economic stimulus to support economic recovery.
  • Developing and maintaining physical infrastructure, cleaning schedules and graffiti removal.

The three themes of the Action Plan

  • Theme one

    Connected and supported places to work and do business

    This theme centres on supporting our business community.

    Actions will focus on connecting businesses and creating supportive environments to share ideas, stay up to date with trends, overcome common issues and potentially share resources.

    Actions will explore homebased business and hybrid models to harness opportunities to enable residents to work and contribute their spending power in the local economy.

  • Theme two

    Investment in vibrant and thriving places for our community

    This theme centres around strengthening places.

    The creation of place is a key economic driver. To maintain strong economic centres, they need to be vibrant and active places where our community feel connected and where businesses want to locate and invest.

    Actions will focus on creating centres which contribute to local residential and business amenity and that retain local consumer expenditure.

  • Theme three

    Build our understanding and inform evidence-based practice

    This theme centres on engaging with our businesses and our local community.

    Understanding local economic drivers will help us evolve our programs and services to meet local needs and to be effective.

    Actions will focus on maintaining up-to-date knowledge of emerging economic issues and their potential impacts. Engaging with businesses to understand their support needs and the community to understand their local consumer needs.