Australia’s First Regional Digital Innovation District and City
The City of Bunbury has identified Bunbury as a suitable ‘Second City’ for WA and a regional ‘Digital City’. The City is proposing that strategic regional investment in a ‘Digital Innovation District’ can enable new opportunities by removing the capability, infrastructure and technology barriers to future growth. This project undertakes an Economic Impact Assessment (EIA) of the proposed Digital Innovation District and its potential economic outcomes.
This project (i) estimates projections of potential economic outcomes as a result of the Digital Innovation District; (ii) an economic impact assessment (EIA) of the proposed district and projected outcomes; and (iii) a discussion of the broader economic contributions including science, skills, education and training, and potential diversification opportunities.
This project goes beyond traditional economic impact studies that look only at the direct, indirect and induced economic impacts, which on their own do not capture the full economic and social benefits of activities in the economy. These additional economic contributions are often ignored in Economic Impact Analyses of educational institutes, cultural outlets and science centres, amongst others, but play a critical role in building the sustainability of an economy and creating regional opportunities for economic, educational and employment diversification.