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City of Fremantle, Economic Development Strategy Key Performance Indicators.

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Presentation on theme: "City of Fremantle, Economic Development Strategy Key Performance Indicators."— Presentation transcript:

1 City of Fremantle, Economic Development Strategy Key Performance Indicators

2 Purpose  Monitor KPI’s identified in Economic Development Strategy  Measure impact of Economic Development Strategy moving forward  Identify areas of strength and weakness  Types of Variables  Economic measures (income, affordability etc.)  Demographics, population, unemployment  Investment and Business

3 Methods of Measurement  For each KPI, figures have been sought for the past 20 years  Where figures are unavailable is due to  Data not collected over the whole of the period  Technology not available throughout the whole period

4 Gross Local Product per capita  Adjusted for inflation to 2007/2008 equivalent  Steady upward trend over the period  Since 2007 trend has flattened, in part likely due to GFC

5 Population  20 years of figures show gradual upward long term trend  Approximately 1% per annum growth over past decade  Recent uptrend driven by North Fremantle development

6 Fremantle Labour Force  Census data collection began in 1999  23% growth over past decade  Workers residence  Cockburn (20%)  Melville (18%)  Fremantle (16%)  Rockingham (6%)  Canning (5%)

7 Participation Rate  Fremantle Participation Rate trended toward state average over the period  2011 figures from different source, showing inflated results  Closing differential between Fremantle and Perth Metropolitan area

8 Unemployment Rate  Steadily falling rate  2011 likely to see flattening as full employment reached  Reflects both gentrification or Fremantle and broader state trends

9 Wages  Census figures, adjusted for inflation to 2010 equivalent  Median household size 2.2 people  Strong upward trend over the period  Increasing affluence in Fremantle  Next census 2011

10  Australian Taxation Office figures, adjusted for inflation to 2010 equivalent  Steady real wage growth in taxable income across the City of Fremantle area

11 Business and Technology Technology  36% of residents with access to broadband in 2006  Expected upward trend in next Census  Monitor in future Business  Estimated 1800 active businesses in Fremantle  83% of businesses have email  30% of businesses have a website

12  Long term upward trend  Fremantle above average  Difference is increasing  University of Notre Dame?

13  Housing affordability ratio doubled between 1996 – 2010  Some reversal since GFC  Reflected in broader WA housing market to some extent

14  2007 survey figures currently being sought  Slight fall in commercial space over period, looking for reversal in trend  Increase in industrial space, mostly due to O’Connor  Retail Space flat Net Lettable Area and Vacancy, Fremantle

15  Profitability & confidence drop during “GFC”  Profits have remained flat, confidence is shaky  RBA has resumed tightening cycle  Next survey due in December

16 Indicators to monitor in the future -Institutional Membership -Fremantle Chamber of Commerce -Experience Perth -Value of non-residential building applications -People Employed in Research and Technical Services

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