Business in Armadale has a big future, says economist

Business in Armadale has a big future, says economist

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Charles Penheiro, Nina Atiya, Dogan Yildrim, Kris Jorgensen and Natalie Crosswell at Armadale’s inaugural Better Business Forum.

The City of Armadale is best placed to lead the diversification of the WA economy, according to one of the state’s top economists.

Around 50 people attended the City of Armadale’s first Better Business Forum last Thursday, held at Beaver Tree Services in the Forrestdale Business Park.

Attendees represented 31 different local businesses, ranging from manufacturing, and construction, to retail, import and export, aged care, financial, and legal services.

Chamber of Commerce and Industry Chief Economist Aaron Morey gave an insightful presentation about the economic forecast for the state, and the world. He also paid special attention to the future potential for the City of Armadale.

According to Mr Morey, WA’s economic growth is yet to peak, with this latest upward trend “rivalling, even surpassing” the boom at the beginning of last decade.

But what goes up must come down, and Mr Morey said diversification of WA’s economy – in which mining accounts for 45 per cent of the pie – is the way to soften the inevitable landing.

“Armadale is going to play a huge part in the diversification of the WA economy – particularly in manufacturing,” he said.

He said the city’s strength lies in its availability of land, which is attractive for logistics and warehousing businesses.

He also highlighted the activation of the CBD as being “absolutely critical” to Armadale’s future success, and said that the city’s problems mirror those in the City of Perth – particularly on issues of safety.

But he said Armadale will increasingly be looked upon as a more attractive option than the inner-city for the many people whose living preferences have changed since the pandemic; wanting to work remotely, and have more space.

The evening was deemed a success for the City of Armadale’s Economic Development team, with local business leaders mingling late into the evening.