10 hot takes about economic development

The more I work with cities, regions, and industries across Australia and beyond the clearer it becomes: economic development isn’t about ticking boxes or chasing buzzwords. It’s about making choices, often hard ones, in the face of complexity.

And over the years, I’ve gathered a few convictions hot takes, if you will that I now carry with me into every conversation, every plan, every policy brief.

Here are ten of them:

1. If everything’s a priority, then nothing is.

Economic strategy isn’t a wish list it’s a discipline. It forces you to focus, to commit, to say “no” more than “yes.” The magic happens when a place knows what it’s not trying to be.

2. “The national economy” is an illusion.

All real economic momentum begins in places in cities, precincts, and regions. That’s where jobs are created, where talent clusters, and where innovation lives. National stats are just the roll-up.

3. We keep chasing jobs. But productivity is the real game.

More jobs don’t always mean better outcomes especially if they’re concentrated in low-wage, low-growth sectors. Long-term prosperity comes from creating value, not just filling roles.

4. Business interests ≠ public interest.

Let’s be honest: what’s good for one company isn’t always good for the community. The job of economic development is to broker alignment finding that overlap where profit meets purpose.

5. Don’t dismiss retail and hospitality.

No, they’re not “key sectors” in the traditional sense. But they breathe life into cities. They anchor main streets, spark social connection, and support the workers who drive innovation.

6. Industry policy is back but often in outdated clothes.

Too many strategies are dressed-up grant programs. We need something bolder: coordinated investments, aligned incentives, and the kind of long-term vision that outlives election cycles.

7. Climate action isn’t a drag on the economy it’s the next big growth engine.

This isn’t about sacrifice. It’s about seizing the largest reindustrialisation opportunity in generations. Net zero isn’t a cost. It’s a catalyst.

8. Advanced manufacturing isn’t just a sector it’s an ecosystem enabler.

It sits quietly at the heart of innovation: prototyping, testing, scaling. If you’re not building it, you’re not serious about your innovation economy.

9. Let industry lead.

Government’s role is important but it’s not omniscient. Industry knows its own frontier better than any bureaucrat. Let associations shape strategy; let government back them with policy muscle.

10. Want to build a future for a region? Ask this:

What could this place be best in the world at?
That question opens the door to strategy. Without it, everything else is just activity in search of meaning.

These aren’t universal truths. But they’ve been tested in boardrooms, town halls, workshops, and late-night policy edits. They’ve helped shape strategies that don’t just look good on paper, but actually move the needle.

source:

https://www.linkedin.com/posts/andrewwear_10-hot-takes-about-economic-development-activity-7317286771543719936-cump?utm_source=share&utm_medium=member_desktop&rcm=ACoAAAtGGkQBsxwMBmX3lEJO8btihnfBCaHqTz4