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A special guidance report, prepared by Bridge42 in partnership with the Property Council of Australia, was officially released on 10 June 2020 ahead of the inaugural State Recovery Advisory Group meeting.
The property industry-led initiative harnessed the intelligence and insights of local and national experts to assist the Western Australian State Government with recovery planning.
The Emerging Stronger Together: Leveraging the property industry to support Western Australia’s economic recovery report proposes 10 key stimulus measures, reinforced by evidence-based research and analysis, to maximise economic impact and value for every dollar spent.
These important initiatives will kick-start the WA economy and ensure that the State’s emerging future looks brighter than ever.
Property Council WA Executive Director, Sandra Brewer, said the State’s property industry, which designs, plans, constructs and manages buildings, had almost unlimited potential to support WA’s post-pandemic recovery and future prosperity.
Ms Brewer said deploying the intellectual capital of the country’s best minds for the benefit of WA, Emerging Stronger Together supported State Government’s objectives of ensuring WA taxpayers capture maximum value for funds spent; that spending underpins projects or enterprises that are sustainable in the longer term and deliver the greatest possible benefit for the broader WA community.
“Our report is designed to encourage good policy that leverages the property industry, which employs 233,000 West Australians,” Ms Brewer said.
“We want to work together with the State Government, supporting its State Recovery Advisory Group, to deliver the best possible result for creating WA jobs, generating sustainable economic activity, diversifying our economy and underpinning sustainable longer-term growth and recovery.”
Bridge42 Chairman, Ross Donaldson, said the global upheaval created by the coronavirus pandemic created a turning point for WA.
“We have an opportunity to think differently,” Mr Donaldson said.
“Our long-awaited property market recovery in WA has been decimated by the virus but we must not squander this chance to think smarter about how we can capitalise on this to create a positive longer term legacy for Western Australians.”
Bridge42 Director, Damian Fasher, who led the initiative acknowledged the invaluable inputs and support from the Property Council and leaders across industry.
Mr Fasher said, “We hope that the 10 key initiatives outlined in the report will assist with informing and shaping the State Government’s decision making, plus encourage greater collaboration across the public and private sectors.
“Together, we can embrace our idle economic strengths and generate bolder visions to reveal WA’s true potential.”