Boost to Melbourne city following 200 plus days of lockdown

Melbourne CBD could be “repurposed” as a new city council initiative seeks to help the Victorian capital recover from the pandemic.

Melbourne Lord Mayor Sally Capp. Picture: NCA NewsWire/Ian Currie

Melbourne’s city council has revealed members of its Invest Melbourne board, a body set up to help the pandemic-plagued CBD recover in the aftermath of Covid-19.

The council initiative, with its own CEO and City of Melbourne staff, was announced last year to: “Respond to the economic impacts of Covid-19 and cement the city’s position as a key player on the world stage.”

Members are developing plans to attract 40 projects and investors, which, they say, will generate $1bn in capital expenditure and create 6000 local jobs.

Financial services executive Amanda Coombs, last week appointed chair of the board, set to have is first meeting in coming months, said she believed Melbourne could become the new “hub” for start-ups – including financial services technology – looking to establish their companies in the Asia pacific region.

“In broad terms, I’d say if we are to attract large corporates or start-ups (and) life science companies, then we are going to start to build momentum in those areas and in turn it will attract more companies,” she said.

“We will become a preferred destination for those industries … (Melbourne could be the) centre for satellite offices for the Asia-Pacific.”

Ms Coombs would not discuss specific projects but told The Australian the board will capitalise on the city’s arts, cultural and sporting events.

“We are so excited about this concept of relaunching Melbourne (and) we are famous for a couple of things,” she said.

“One being arts, our incredible hospitality and med-tech facilities. We can target and become (famous) for the life sciences and attract companies that are looking for an alternative to Hong Kong (for example).”

She also said areas such as Docklands – and the broader CBD – could be “repurposed” in a bid to boost city foot traffic “rather than just trying to bring back what it was prior to the lockdowns”.

Invest Melbourne plans to target key industries, and is aiming for 30 per cent of new projects it invests in to involve information and communications technology work, 25 per cent to involve tourism and hospitality, 10 per cent life sciences work and another 10 per cent advanced manufacturing. The remaining 25 per cent will include capital project facilitation.

Melbourne Lord Mayor Sally Capp said more than 60 businesses are being targeted by Invest Melbourne to plant their headquarters in Victoria.

“As our borders continue to open to the world, we want Melbourne to be the destination of choice for global headquarters, research-and-development centres and the biggest projects – and our expert board will help s do just that,” she said.

The state government announced last week it would lift health recommendations for office staff to work from home as Covid-19 cases plummet and spring sets in.

Foot traffic in the CBD has continued to slump on Mondays and Fridays as city employees work from home, following more than 260 days in lockdown.

Ms Coombs will be joined on the board, appointed for 18 months, by executives from identified ”growth” industries.

They include medical and pharmaceutical technologies industry expert Andrew Carter, Asia-Pacific region procurement and supply chain logistics specialist David Chen and former Pacific Hydro Australia chief Rachel Watson.

Victorian Chamber of Commerce and Industry chief Paul Guerra declined to comment.