To those of us who live and work in the Illawarra region, it’s home. A place built on a rich history of steel and mining. A place where we all know the peaks and troughs of Australian industry and the resilience it takes to run a business. A place built buy hard working men and women who spend their day to day labouring somewhere between the mountains and the sea. Of course, as an eclectic group of realists, it’s easy to be consumed by the negatives. The down sizing of BlueScope, the knock-on effect this has had on dependent companies, infrastructure that needs upgrading and THAT Rabbitohs field goal back in September. Sure, we have our challenges but let’s take a look at a report recently released by global advisory firm Deloitte. Their report analyses our city and makes many interesting observations about our location, resources, investment, proximity, infrastructure and access to skilled talent through the initiative of the University Of Wollongong. Their report provides some very interesting numbers. According to Deloitte:
- The costs of commercial rent in the Illawarra is up to 50% less than Sydney
- The cost of Labour is approximately 85% of the cost of labour in Sydney.
- Retention of employees is high with a comparatively low employee churn rate of 5% compared to Sydney’s 25%.
- We have a large pool of skilled talent constantly graduating from the University of Wollongong. Let’s reduce the 20,000 plus people commuting their talent out of town every day.
- A lot of our talent relocates to Sydney or interstate to larger cities. Even if salaries in Wollongong are 10% – 15% lower than Sydney, the cost of real estate is typically 35-40% lower in the Illawarra. The great Australian dream gets closer.
- We have a great public transport system and logistics networks to get our people, services and products to the rest of Australia.
- Residents of the Illawarra enjoy a great coastal lifestyle, world class healthcare and modern shopping, hospitality and entertainment facilities.