Bradfield 2021: Infrastructure and education to lead to NSW’s prosperity

Covid showed the impact universities have on the economy and Sydney simply can’t be a powerhouse again without a thriving university sector, writes Sydney Uni vice chancellor Mark Scott.

Sydney is Australia’s true global city, one of the major cities of Asia-Pacific. A magnet for investment, tourism and talent.

As we start opening back up to the rest of the world there is nowhere in this country I would rather be.

The opportunities that are opening up for all of us are truly exciting.

There’s a remarkable growing footprint of infrastructure across the region. Tech Central which is destined to be the hub of the nation’s digital development in future industries such as quantum, digital sciences, additive manufacturing and robotics, the buzzing Westmead/ Parramatta precinct where we’re planning a landmark multi-disciplinary campus and Aerotropolis where the local community, industry and government are working with us to drive development of the area.

On our own campus we have a new Manufacturing Hub and are creating a world-class biomedical sciences precinct.

Sydney also has a reputation as home to some of Australia’s finest universities, attracting students of outstanding quality and world class academics.

The University of Sydney quadrangle. Established in 1850, the university is the oldest in Australia and Oceania.

International students have been drawn here because of the quality of teaching, the strong global recognition of our institutions and the enviable lifestyle we can offer.

The pandemic has had a huge impact on our sector but soon our halls, gyms, cafes, ovals and lawns will be teeming with student life once again.

Getting back to normal is critical not just for our institutions, but for the whole country.

Universities pump billions into our economy through support for local businesses, investment in projects, capital works and the creation of start-ups. What happens on our campus has a positive impact across the whole country.

At the University of Sydney, we have over 70,000 students in campuses across NSW, not just in the inner city. They include Westmead, Camden, Broken Hill, Lismore, Orange and Narrabri. Our students come from all over the country and all over the world.

Sydney University vice chancellor Mark Scott. Picture: The University of Sydney / Louise M Cooper

Before the pandemic, international education contributed over $40 billion annually to the Australian economy. It was Australia’s largest services export industry and fourth largest overall (behind iron ore, coal and natural gas).

Last year, independent economists ACIL Allen Consulting released data that revealed in 2019, our university alone contributed $5.9 billion to the national economy and created the equivalent of 35,633 full time jobs. That’s not jobs at our university but across the economy, including in retail, construction, tourism, real estate and hospitality.

The report also found that for every dollar we spend on research we generated an extra $7.82 for the economy.

We’ve seen how important Australia’s research has been during this pandemic. The development of vaccines and new treatments would not have been possible without our research, but it didn’t happen overnight.

That kind of rigorous, innovative, big-picture breakthroughs can take decades to yield results. It’s the kind of work happening in universities every day, where we bring researchers together across disciplines to find solutions to the world’s greatest challenges.

Covid showed how our work has real world impact and it also showed the impact we have on the economy — Sydney simply can’t be a powerhouse again without a thriving university sector.

As we all work to get the economy back on track and Sydney booming once again, universities must be essential partners for Government and industry in the years ahead.

Professor Mark Scott is vice-chancellor and principal of the University of Sydney.