Trust and Economy of our City

Do we think enough about what makes our local economy work? Transport, housing, environment, community services and sense of place all get attention at Council level. But what do we need to do to build local businesses, jobs and economic connections?

Trust is the bit we take for granted and it is the core of what makes Australia work, as a community and as an economy. In many poor countries there exists a culture that says it’s OK to cheat someone who is not a family member. In some places cheating is even seen as a sign of clever business. Willingness to trust strangers is what puts Australia at the top of league tables charting economic strength. It’s also why I enjoy street food markets in Asia.

Our position on the trusting spectrum is what makes us different. Trust is so much a part of our life that we treat it like oxygen. We trust that our customers will pay us, that our land tile is secure, that our kids will learn useful skills and sound values at school. We trust our friends, our neighbours and strangers at the shop. Is this the key to developing local jobs and being more of the village community that many of us seek? Is trust an asset to be nurtured, one of which we are not aware?

While the mining economy powers ahead, should we do more to consciously build local economies and promote local jobs? Can we have more jobs near where we live? Do we have to treat our suburb like a dormitory that we leave every morning for work, and return to, for food and sleep? Can we build local business so we are more a part of the life in the veins of our community?

Can the large number of home and small-office consultancies be part of this. Will National Broadband allow businesses to be quite different to anything in our past. I already know people who work for big UK and USA businesses, while living in Perth, using the Internet to help them service opposite time zones. Will the development of one of the world’s biggest super-computers in Kent Street next year spur innovation? Could Mend’s Street be the centre for fashion retail in WA? Can services for education capitalise on the rapid growth of Curtin Uni?

At Council this week I commenced a formal conversation around how we can promote the City’s economy. We went on to include this topic in the CEO’s key performance indicators for 2012. My dream is that Council can do much more in this direction. We’ve already begun, with a vision for Canning Bridge and for the area between the Freeway and the Zoo. The new library has small rooms available for business start-ups and community groups. Manning Hub redevelopment includes a significant business rejuvenation. There is thought around a business component of funding heritage preservation and the Old Mill.

What structures, ideas, inspirations and changes can we promote? How can we make a difference? What do you think? Comment below, or email me, and I’ll get your thoughts published here.