Our new Economic Development Strategy proposes a bold ambition: to make Melbourne the Asia-Pacific's city of innovation, talent and liveability.

Melbourne contributes $116 billion to Victoria’s economy and nearly 5 per cent of Australia’s total output. With a strong knowledge-based economy, world-class retail and hospitality, leading universities, and a vibrant cultural scene, the city has maintained an average growth rate of 5 per cent over two decades.

However, Melbourne must also adapt to global competition, shifts in working habits, and affordability challenges. This strategy sets out a plan to capitalise on opportunities and overcome challenges to secure Melbourne’s future as a global leader in business, culture, and innovation.

Developed through extensive consultation with industry and government stakeholders, we asked for community feedback on the draft from 16 April to 13 May 2025.

Your contributions will be invaluable in shaping both our short and long-term goals, so together we can turn our new Economic Development Strategy 2025–2029 into reality.

Draft Economic Development Strategy 2025-2029

Learn more about the new economic development strategy that was open for feedback from 16 April to 13 May 2025.

News

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Timeline

  • Timeline item 1 - complete

    Report to Future Melbourne Committee

    Council to endorse draft strategy for public consultation.

    Tuesday 15 April 2025

  • Timeline item 2 - complete

    Public consultation period

    Wednesday 16 April – Tuesday 13 May 2025

  • Timeline item 3 - active

    Report to Council

    Revised Economic Development Strategy 2025–2029 with summary of submissions presented to Council for consideration.

    Tuesday 24 June 2025

Contact us

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