Australia's 3rd Largest Economy

Penrith’s Exciting Future Laid Out in New Strategies

23-Feb-2024 15:34 | Cassidy Lau (Administrator)

There has never been a better time to be in Penrith, with two newly endorsed strategies setting the path to create more jobs and build strength and resilience in the Penrith economy.

The Penrith Economic Development Strategy 2023-2031 (EDS 2031) and the Penrith Visitor Economy Strategy 2023-2030 (VES 2030) were endorsed by Penrith City Council in December 2023, after extensive consultation with industry and residents as well as thorough economic modelling by experts.

Penrith is strategically located in one of Australia’s fastest growing areas, with plenty of land to develop, and 37% (1028 ha) of future employment lands in Greater Sydney. A myriad of investment opportunities are on offer in the economic triangle connecting Penrith, St Marys and the Western Sydney International Airport, including the Quarter Penrith Health and Education Precinct, Mamre Road Precinct, and three new Western Sydney Airport Metro stations.

Harnessing all this potential, Penrith seeks to create 23,000 new jobs in the city by 2031. Target industry clusters for this growth that have been identified in the EDS 2031 include transport, freight and logistics, manufacturing, and healthcare and education. Penrith’s visitor economy is also expected to grow significantly with the opening of the new airport in 2026. Some of the priorities laid out in the VES 2030 that will support this growth include encouraging investment in the accommodation sector, fostering new attractions, and leveraging Penrith’s conference and events assets.

To read the strategies in full, visit the Invest Penrith website and get in touch if you want to be involved in Penrith’s exciting future.

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