With three universities, a TAFE, a major hospital, a local health district, council and many different businesses across the city, the challenge is how to keep these organisations working together to create single vision that will make Liverpool the envy of Sydney.
Already the CBD is in an evolving position and there is now a focus on how to make it walkable, liveable and open it up to the river.
But with the potential for 30,000 more health and knowledge workers to move into the region over the next 20 years, now is the right time to implement the vision created for Liverpool’s innovation precinct.
It is only through having a precinct, not project focus, Liverpool can raise and elevate the opportunities to enable a fuller discussion about what is needed to ensure residents can live, work and play without having to level to area.
PwC has recently prepared a report, Liverpool Health and Education Precinct, commissioned by a wide group of local stakeholders, which represents the start of this process, by creating the vision.
The report recommends the establishment of a Centre of Excellence for Cancer and Translational Research and Health Technology. The establishment of these Centres would create an opportunity for the precinct to differentiate itself and achieve national and international eminence in cancer care, translational research and education and training.
In addition, the development of an advanced manufacturing and automation hub would deliver more economic and social benefits.
With a focus on precision medicine, the Liverpool Innovation Precinct would attract technology start-ups and enterprises to work and invest in the area enabling patients to receive world class care and clinicians and students access to world class technologies.
Further expansion of the existing hospital complex through the vital next stage development of the public hospital and the co-location of a private hospital could drive even greater opportunities.
A co-located private hospital can attract and retain respected medical specialists to the Liverpool area and enables the sharing of infrastructure and resources, which in turn reduces the operating costs for key clinical services. It also provides potential for other areas of the precinct to engage in translational research.
More precincts will attract more businesses and more businesses will create more jobs and more investment and stimulate the need for more services. It gives people a greater reason to focus on what Liverpool offers from a lifestyle perspective.
The idea that you shouldn’t have to leave your region to find a good job, good schools and good hospitals is very compelling and very powerful.
With congestion and density likely to continue as the Sydney CBD grows more and more many families will be looking at their lifestyle from a holistic perspective.
If we can boost and market the ‘live’ in Liverpool, this community will set themselves up for success for the long term.
Jeremy Thorpe is Chief Economist at PwC.
