True Bayside, but Frankston will be more than just an area for people to start out. Frankston is an up and coming area and I believe it will be highly sought after. It has more going for it than what people give it credit for.
Everyone keeps forgetting Frankston is a "City on the Bay". The Kananook Creek Boulevard is close to becoming a reality, with works scheduled to commence before the end of 2008.
Tenders for the Marina are expected in Feb '08. (amongst many others, these are the main two that will see significant changes in this area. Then would be the development of the Peninsula Centre.
Frankston City - Our Economy at a Glance - Frankston City News Oct 2008
Revenue - 7.1 billion Economy
Of the $7.1 billion revenue generated in Frankston City, 29.7 per cent is from manufacturing sector, the largest industry in the city. Although there is a perception that Frankston is a retail dominant city, retail trade accounts for just 10.9 per cent of the gross revenue generated. Meanwhile, the other significant industry sectors contributing to the local economy are property and business services (12.5 per cent) and construction (11.4 per cent)
Employment - 33,500 jobs
Frankston City's employment is centred on retail trade, health and community services, manufacturing and education. Over 60 per cent of the City's employment lies in these industry sectors, with over 7,400 in retail trade and 5,700 in health and community services.
A Growing Economy
Census data from 2001 and 2006 indicate Frankston has a growing economy over this period, there have been 900 jobs created in health and community services and 500 jobs in retail trade. Overall, there has been a 10 percent increase in the number of jobs in Frankston City.
In the same period, the economy has generated an extra $800 million in gross revenue, which equates to an overall growth of over 11 per cent.
One quarter of this growth can be attributed to Frankston City's manufacturing sector, which grew by $200 million over the five year period.
Annual Business Survey
Each year the Economic Development team undertakes a survey of the business community to gain a better understanding of the trends and issues facing our local economy. It also helps us to better plan our activities and target where our business support resources would be best directed.
This year's survey revealed:-
50.5 percent of the respondents established their business in frankston between 2000 and 2007.
55.2 per cent of the respondents chose Frankston for their business to be close to home, 27.4 per cent saw the business potential and opportunities and 23.8 per cent made the lifestyle choice.
16 per cent of the respondents indicated they had relocated an existing business to Frankston from elsewhere, with original locations spanning up the bayside corridor, south east Victoria and interstate.
Accommodation, cafes and restaurants, retail trade, manufacturing and personal and other services reported the greatest capital investment in the past financial year
Transport and storage, health and community services and cultural and recreational services were the industries expecting an increase in capital investment in the 2008-2009 financial year.
72.5 per cent of the respondents reported an expected increase in business turnover in the 2008-2009 financial year.
The greatest strength and competitive advantage of operating a business in Frankston, identified by 52.1 per cent noted the central location of Frankston in relation to reaching the Mornington Peninsula and Melbourne, Affordability, lifestyle, development/potential and accessibility were also highly rated by respondents.
Interestingly despite Frankston's central location being described as a competitive advantage by 51.2 percent of the respondents, 26.2 per cent cited the City's distance from Melbourne as a competitive disadvantage.
This area has huge potential and I for one have believed this for many years. How can it not? Frankston is not only being developed as a tourist destination, it is a commutable City on the Bay.
Toni
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