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Global economy impacts Western Sydney businesses

Warrick McLean

Over 300 business professionals attended two Coleman Greig Economic Forums in Western Sydney this week.

Hosted in conjunction with the National Australia Bank (NAB) guests heard from Tapas Strickland, Director of Economics at NAB, who spoke about the current impact that the Coronavirus is having on the Australian economy and what can be expected as we move through 2020.  He also shared some invaluable insights on the labour market, rate cuts and the housing market.

Sam Sangster, CEO of the Western City & Aerotropolis Authority spoke about Smart Cities, the Western Parkland City and the opportunities that the Western Sydney International (Nancy Bird Walton) Airport will bring to the region including jobs, educational facilities and a better quality of life by reducing the amount of time people travel to work.

In the coming years we will see $20 billion of infrastructure investment by State and Federal government, 2.5 million trees planted in Western Sydney and a population of 1.5 million by 2036 in the Western Parkland City.

 

CEO, Sam Sangster said “At the Western City & Aerotropolis Authority we have a once-in-a-generation chance to shape the creation of a liveable and well connected city. At the centre of the Aerotropolis will be the Western Sydney International (Nancy Bird Walton) Airport, which brings unique opportunities. They include attracting new industries, helping us to drive the creation of 200,000 new jobs across the Western Parkland City.

These jobs will be in core industries such as; advanced manufacturing, aerospace & defence, agricultural business, freight & logistics, pharmaceuticals, health & education, airport, tourism, sport and support industries such as banking, insurance and finance.

With 90 years of history in Western Sydney, CEO Coleman Greig Lawyers Warrick McLean said  “This is an extremely exciting time for Western Sydney and businesses that already exist in the region, but also for new businesses entering the market.”   

Tax Team Leader, Coleman Greig Lawyers, Morris Maroon, who has over 30 years’ experience in tax, concluded the forum with his top tax tips for 2020.