A new study from Deloitte Access Economics examining Sydney’s innovation and growth potential has highlighted International Convention Centre Sydney (ICC Sydney) as an important contributor to innovation in the city – actively strengthening its local knowledge economy.
Delivered in partnership with Sydney Business Chamber and University of Technology Sydney (UTS), the ImagineSydney, Create report has included a case study on Australia’s premier convention, exhibition and entertainment precinct.
According to Deloitte Sydney Manager Partner, Dennis Krallis, ICC Sydney’s ability to connect the city’s knowledge hubs and attract global thought leaders to the nation’s cultural and economic capital will deliver powerful, long-term benefits.
“Innovation is key to Sydney’s future prosperity and ImagineSydney, Create is focused on recognising and exploring growth opportunities for the decade ahead. Large, established organisations such as ICC Sydney, which use the power of connections to facilitate fresh ideas, are essential to realising our city’s social and economic potential. ICC Sydney will be central to attracting and driving conversations, research, investment and partnerships across sectors.”
Geoff Donaghy, CEO of ICC Sydney, said that the precinct is an important component of the NSW Government’s suite of infrastructure projects and through its role as a centre of creativity, is set to generate A$5 billion in economic benefit to NSW over the next 25 years.
“As the A$1.5 billion centrepiece of the wider A$3.4 billion rejuvenation of Darling Harbour, ICC Sydney connects the city’s financial districts, media and creative, cultural and student hubs. The precinct is also purpose-built to provide the ultimate platform for the world’s leaders and thinkers to meet, collaborate and innovate.
“ICC Sydney offers industry leading technology and 70 flexible meeting spaces, including three world class theatres, 35,000sqm of exhibition space and a 5,000sqm event deck, and will create new forums for knowledge sharing and ideation. The combination of location and facilities and an experienced, future-looking management team perfectly places ICC Sydney at the centre of NSW’s future prosperity.”
Donaghy noted that ICC Sydney’s Feeding Your Performance philosophy is also delivering a raft of socio-economic benefits across the State.
“ICC Sydney is driving business growth and economic development for regional communities by partnering with a network of local farmers. Their produce is helping us deliver ‘smart’ dishes designed to fuel both body and mind for our delegates, and through our menus we are also working to showcase the regional food bowls of the State to an international audience.
“Our unique approach to creating a sustainable, local food and beverage supply chain is definitely an industry-first.”
According to the Deloitte Access Economics research, if just 10 per cent of the 138,000 ‘non-innovator businesses’ in Sydney made small incremental changes in best practice, process development, management methods and the like, Sydney’s gross regional product could increase by A$25 billion.
“We proudly put innovation at the heart of our organisation and hope to be an inspiration for others, as we believe the benefits here are truly great. The future for Sydney is definitely bright and with ICC Sydney set to host more than 1,000 events annually within our first three years of operations, we are proud to be fostering continued innovation in the heart of the city,” added Donaghy.