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NSW releases ‘24-hour economy’ plan for Sydney businesses

Adrian Flores
Adrian Flores
18 September 2020 1 minute readShare
24 hour economy plan

The NSW government has released a new strategy to make Sydney a “24-hour economy” to boost businesses and jobs in the city as part of a wider economic recovery from COVID-19.

A major element of its 24-Hour Economy Strategy is the establishment of a new Coordinator General to implement the plan.

The new role will report to and work closely with ministers in creating a program that will create “hubs” that reflect the unique needs and identities of their local communities.

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The Coordinator General will also be guided by a committee composed of NSW government agencies, industry representatives and councils.

In particular, the strategy will focus on growing and supporting jobs in industries hard-hit by COVID-19 including hospitality, tourism, retail and the arts.

 

The other key aspect of the NSW government’s 24-Hour Economy Strategy is the “Neon Grid” framework aimed at connecting businesses and entrepreneurs of Sydney’s night economy as well as local and international consumers.

NSW Minister for Jobs, Investment, Tourism and Western Sydney Stuart Ayres said Sydneysiders deserve a global city that’s thriving 24 hours a day, and the world wants a 24-hour Sydney.

“We are going to turbocharge Sydney by working closely with industry and councils to implement the 39 actions across the strategy’s five strategic pillars so the productivity of the night can rival that of the day to create more employment opportunities in arts, entertainment and cultural events throughout the evening,” Mr Ayres said.

Committee for Sydney chief executive Gabriel Metcalf said the strategy was key in helping the city’s bars, restaurants, retailers and cultural institutions to bounce back.

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“It is one of the most detailed and comprehensive nightlife plans ever compiled for a city and a blueprint to regenerate Sydney’s 24-hour economy as the city recovers,” Mr Metcalf said.

“This is a way to showcase the best of Sydney: a young, fun, diverse, creative city that offers the best in culture, dining, retail and entertainment after dark.”

NSW releases ‘24-hour economy’ plan for Sydney businesses
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Adrian Flores
Adrian Flores

Adrian Flores is the deputy editor of MyBusiness. Before that, he was the deputy editor for SMSF Adviser as well as features editor for ifa (Independent Financial Adviser), InvestorDaily, Risk Adviser, Fintech Business and Adviser Innovation.

You can email Adrian at [email protected].

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