Economic strategies

Economic Development Strategy

The Frankston City Economic Development Strategy 2016-2022 (EDS) is a 6-year plan to grow the local economy and improve the City’s quality of life. 

Council adopted the final strategy in December 2015.

Key priorities

  1. World class Frankston station precinct with diverse employment opportunities  
  2. Knowledge-based local economy generating professional employment opportunities 
  3. Vibrant and resilient small/micro business community  
  4. New and rejuvenated employment precincts  
  5. Favourable investment conditions  
  6. Delivery of the Frankston Health and Education Precinct 
  7. Education attainment and employment  
  8. Tourism and Visitation in Frankston City  
  9. Major economic infrastructure and an expanded Port of Hastings.

EDS was compiled following a review of the previous strategy (2011) and an economic environment scan, which highlighted a range of issues that require direct and indirect intervention by Council.

Summary of issues addressed

Below is a summary of the main the issues that the strategy has responded to:

  • Job growth in Frankston City and across south east Melbourne occurring at a slow and unsustainable pace.  
  • Lack of access to a diverse tertiary education offering (particularly at university level).
  • A discrepancy between the tertiary education offering and the needs of local industry. 
  • A lack of effective regional advocacy for South East Melbourne.
  • Poor strategic land use planning, which obstructs investment.
  • Council processes that are not geared toward job creation and investment. 
  • Declining greenfield employment land supply (less than 5% across the municipality).  
  • Transition towards a knowledge-based local economy at a slow and unsustainable pace.

Each of the nine priorities has associated tactics, which will be delivered over the course of the six-year strategy.

Supporting documents
Economic Development Strategy 2016-2022(PDF, 2MB)
Economic Development Strategy 2016-2022 - Explanatory Presentation(PDF, 5MB)

Visitor Economy Strategy

The Frankston City Visitor Economy Strategy provides Council with a considered and strategic approach to ensure the City confidently responds to significant global trends in the tourism sector, in particular:

  • The transition to a Visitor Economy focus which recognises the value of local residents and indirect economic returns in tourism.
  • The impacts of digital and all forms of disruption to service delivery and communications modelling.
  • By focussing on strategic public and private investment which supports liveability and visitability.
  • By developing positive, strategic and innovative communications and engagement programs to attract and disperse visitors and residents.

The Strategy will support Council to deliver and facilitate long‐term strategic activities which leverage the City’s current strengths while laying the foundations to position the City as a visitor destination within the broader Victorian landscape.

Supporting documents
Frankston City Visitor Economy Strategy 2019 - 2024(PDF, 1MB)