The NSW city of Newcastle is incentivising talented and community-minded Australians to relocate to the city by offering a $10,000 grant which is available for up to 30 ‘innovative and accomplished’ entrepreneurs.
A strategy called New Move was launched this week as an economic development initiative to attract people from Australia’s capital cities to relocate and invest in Newcastle, a beachside community of more than 300,000 people located around 160km north of Sydney.
Generate $25-million in increased economic output
Local authorities say independent economic modelling estimates the program could create up to 75 new jobs and $25-million in increased local economic output.
The city’s Lord Mayor, Nuatali Nelmes, said New Move is an Australian first, adapted from the highly successful Remote initiative introduced by Tulsa in the US state of Oklahoma.
Nelmes said it would help attract new skills and talent to Newcastle through the initial incentive of a financial grant, whilst also raising long-term awareness of the city’s diverse economic opportunities.
Attracting talented people is an economic stimulus
“Newcastle is an economic hub driven by innovation and skills and we want to share this fact with all of Australia.
“Attracting talented people as an economic stimulus strategy provides great value for money, with independent modelling showing that enticing 30 entrepreneurs to the city through New Move will help create new local jobs and millions of dollars in economic output,” the Lord Mayor stated.
“The grant is one great reason to consider a move to Newcastle. However, there are 10,000 more reasons why Newcastle is the perfect place for entrepreneurial, community-minded and innovative people to create impact.”
According to Nelmes, the global labour market is changing. Covid-19 has shown that people can work from anywhere in the world. And, increasingly, young professionals are choosing smaller but well-connected cities like Newcastle due to their superior lifestyle.
People are often apprehensive about moving cities
“We know people can be apprehensive about moving cities. New Move and the 10,000 Reasons campaign promotes Newcastle as a safe, welcoming location for Australia’s top entrepreneurial talent.”
Deputy Lord Mayor Declan Clausen, who chairs the City’s Strategy Committee, said with technology evolving so rapidly, the business community needs people with specific skills.
“Through an advertising campaign focused on Sydney and the nation’s capital cities, Newcastle will be showcased as a smart city and innovation hub supported by a vibrant culture and modern infrastructure,” he said.
“Newcastle is a gateway – small enough to provide the charms of regional life but big enough to attract international investment and the best domestic and global talent.
“Talent attracts talent. New Move recipients will be asked to commit to be city ambassadors; helping [to] further develop local skills and activate our community to create future economic opportunities. In return, recipients will have access to co-working spaces and networking events to build local business and community connections.”