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Published byRichard Wrightson Modified over 9 years ago
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City of Fremantle, Economic Development Strategy Key Performance Indicators
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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
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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
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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
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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
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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%)
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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
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Unemployment Rate Steadily falling rate 2011 likely to see flattening as full employment reached Reflects both gentrification or Fremantle and broader state trends
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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
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Australian Taxation Office figures, adjusted for inflation to 2010 equivalent Steady real wage growth in taxable income across the City of Fremantle area
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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
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Long term upward trend Fremantle above average Difference is increasing University of Notre Dame?
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Housing affordability ratio doubled between 1996 – 2010 Some reversal since GFC Reflected in broader WA housing market to some extent
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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
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Profitability & confidence drop during “GFC” Profits have remained flat, confidence is shaky RBA has resumed tightening cycle Next survey due in December
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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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