Support CBD innovation hub: Adelaide business leaders: SA
Adelaide is enjoying a 10-year high in warehouse construction. Industrial construction has followed on from the economic boon generated by contracts for Australia’s submarine program in the city’s northern precincts around Port Adelaide, Gillman and surrounds.
Whilst the industrial and outer-regions were enjoying a period of economic growth, Romualdo Cicchiello
, Sales and Leasing Manager at LJ Hooker Commercial Adelaide
, called on federal leaders to follow-through with investment in job creating opportunities that will keep tech-savvy, younger workers in Adelaide.
According to the latest Census data, 20.7% of Adelaide’s population was aged between 20 and 34. In comparison, the age cohort accounted for 23.7% of Sydney’s and 23.1% of Melbourne’s respective populations.
Mr Cicchiello said the federal government should support the intent of Lot 14, the former Royal Adelaide Hospital site, which has been re-imagined as a tech hub fostering start-up talent.
The Australian Institute for Machine Learning, run by the University of Adelaide, is the anchor tenant.
“Adelaide’s economy is very strong in the northern suburbs at the moment on the back of the naval contracts, but the CBD could be improved,” he said.
“Lot 14 will be the inspiration for the next chapter in innovation for Adelaide and the powers-that-be in Canberra should be looking closely at how the precinct could connect us with the rest of the world.
“If you’re a young, up and coming business analyst, you’ll move to Melbourne; same if you’re an economist – we don’t have the cluster of financial businesses here. They’re putting Lot 14 to use as an innovation hub in machine learning and more, and I think it’s worthy of support from all tiers of government so we can retain our young talent in emerging industries, here.”
In its April Budget, the Coalition allocated $1.5 billion for Adelaide’s North-South corridor. However, Mr Cicchiello said east-side entrances to the CBD were exceptionally bad at peak hour.
He said improving connections from the eastern suburbs to the city would again improve the professional lifestyle in Adelaide.
“Payneham, Kensington and Glen Osmond roads are clogged in the morning, making the prospect of early morning business meetings in the city a major challenge.
“The Torrens Road Level Crossing will assist traffic from the north-west, but improvements are needed from the eastern side of the city, as well.”
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