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Melbourne cemented as global investment destination

8 April 2023

Saturday 8 April 2023

Melbourne’s economy is being significantly boosted by a City of Melbourne investment body, designed to attract key global and local investments and cement the city as the best place to start and grow a business.

Invest Melbourne was established in 2020 to complement the city’s rapid growth, and now boasts a pipeline of major projects which could generate more than $2 billion in capital expenditure.

Successful investment projects include:

  • Newmark Capital – major redevelopment of the David Jones building to house Clemenger BBDO, Australasia’s largest, most successful marketing communications company, Rodd and Gunn and a new MECCA flagship store.
  • Gaia Project Australia – tech start-up creating high-yield vertical farms, which has opened in Docklands with 5 full-time staff.
  • Bar Jayda – new hospitality venue in the heart of Melbourne’s CBD, employing 15 staff.

In partnership with several government investment entities, Invest Melbourne is currently working across more than 120 projects and opportunities – which could create more than 9,800 new full-time jobs across the city.

Investment proposals include three global headquarters and research and development centres, creating more avenues to further strengthen Melbourne’s position on the world stage as a hub for business and innovation.

More than one-third of the projects (35.2 per cent) are for accommodation and food services businesses, 18.8 per cent are from the ICT sector and 12.5 per cent are in the retail industry.

Within Invest Melbourne, Council’s Business Concierge service is working to make it even easier for traders to operate in the city – with fast-tracked permit approvals, business and marketing support and industry contacts.

For more information on Invest Melbourne, visit City of Melbourne.

Quotes attributable to Acting Lord Mayor Nicholas Reece

“Melbourne will soon be Australia’s largest capital city – and we’re building on that momentum to attract new investment, create jobs and boost the city’s economy.”  

“Invest Melbourne is helping dozens of businesses to unlock their potential – joining the many successful, innovative companies choosing to invest in Melbourne’s future.”

“We’re supporting 80 potential investors to move ahead with their projects this financial year – which could create more than 1,500 jobs across our municipality.”

Quotes attributable to Business and Global Opportunities portfolio lead Councillor Kevin Louey

“We want to amplify Melbourne’s global reputation as a vibrant place for investment and innovation, and the best place to start and grow a business.”

“Invest Melbourne is targeting and working collaboratively with dozens of potential investors from Australia and across the globe – from small to medium enterprises, through to major capital city projects.”

Quotes attributable to Gaia Project Australia Founder and CEO Nadun Hennayaka

“Since moving to the Docklands at the end of 2022, Invest Melbourne has supported me through permitting processes and linking us to other council opportunities, like marketing and the Open Innovation Competition.”

“Invest Melbourne has made it easy to open our business in Melbourne and we look forward to continuing to work with the team as our business grows.”

Quote attributable to Bar Jayda owner and Delia Group Managing Director Shane Delia

“Invest Melbourne have been extremely helpful in supporting me through establishing and opening Bar Jayda. From advice on permits to supporting our liquor licence application Invest Melbourne are making Melbourne the easiest place to grow my business.”

Quote attributable to Chair of the Invest Melbourne Advisory Board Amanda Coombes

“The advisory board is leveraging our collective experience to provide Invest Melbourne with the best chance of attracting investment from great businesses, into our fabulous city.”

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