GENERAL PROPERTY

Cremorne alone contributing $4b to state economy

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THE Victorian government has released plans to push the growth of Cremorne as a centre for innovation, technology and related high-skilled jobs.

The new Cremorne Place Implementation Plan outlines a long term vision for the Cremorne precinct, guiding how the suburb will develop to support high-tech and innovative enterprises, while also driving investment and building on its community characteristics and central location.

As part of the 2020/21 Budget, $12 million has been put aside for the development of a purpose-built digital hub in the inner-Melbourne suburb.

“We want to accelerate Cremorne’s development – to see it recognised as a global innovation precinct,” said Jaala Pulford, minister for innovation, medical research and digital economy.

“The Cremorne Digital Hub will be a world-class facility where tomorrow’s tech workforce can come to upskill, where entrepreneurs can start up, and industry and institutions can partner to drive new R&D,” she said.

The hub will be designed as a centre for research and development in advance technology sectors, supporting individuals, projects and business in innovation and supporting digital skills and training.

Supporting sectors such as cyber security and artificial intelligence, the hub will enable businesses to collaborate and share equipment, reducing the costs of start-ups and younger tech companies.

Through the $64 million Digital Skills and Jobs Program, also outlined in the 2020/2021 Budget, the hub has the potential to host training courses in these advanced technologies, garnering support from both educational institutions and the private sector.

Currently four start-ups with billion-dollar valuations are based in Cremorne, MYOB, REAGroup, Carsales and SEEK. While suburb alone contributes $4 billion to the state’s economy annually, with 700 business that employ more than 10,000 workers currently located there.

“Great precincts don’t just happen – they need to be planned and nurtured at crucial steps in their development,” said Richard Wynne, minister for planning.

“Digital and creative industries will play a vital role as we rebuild Victoria’s economy and this plan provides a roadmap to ensure these industries have a place to thrive into the future,” concluded Wynne.

The Victorian Planning Authority has funded early works to update parking, planning and built-form controls in the precinct, as works are already underway.

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