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Boosting Economic Growth: Msunduzi Municipality Strategy

Explore the economic development initiatives in Msunduzi: from investment conferences to flagship projects and long-term strategies. Witness the transformation of a capital city with growing employment opportunities and key investments.

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Boosting Economic Growth: Msunduzi Municipality Strategy

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  1. THE MSUNDUZIMUNICIPALITYAN ECONOMIC DEVELOPMENT STRATEGY FORA GROWING CAPITAL CITY

  2. INTRODUCTION • City has a rapidly growing economy • Poverty and unemployment remain key issues • Strategy must further develop the economy and generate sufficient employment THE ECONOMIC DEVELOPMENT & GROWTH STRATEGIC BUSINESS UNIT

  3. MARCH 2000 CONFERENCE • First ever investment conference in the city • Potential growth sectors were identified, viz. tourism and aluminium downstreaming • Key properties were put out for development proposals THE ECONOMIC DEVELOPMENT & GROWTH STRATEGIC BUSINESS UNIT

  4. HULETT ALUMINIUM THE ECONOMIC DEVELOPMENT & GROWTH STRATEGIC BUSINESS UNIT

  5. ALLTUBE FACTORY THE ECONOMIC DEVELOPMENT & GROWTH STRATEGIC BUSINESS UNIT

  6. INCENTIVES PACKAGE • City announced a new concessions package • New and expanding business qualified • Concessions were extended to both industrial and commercial activities THE ECONOMIC DEVELOPMENT & GROWTH STRATEGIC BUSINESS UNIT

  7. INVESTMENT FACILITATION TEAM • Multi-disciplinary team approach • Team meets twice monthly and deals with concessions applications and development proposals • One-stop facilitation approach has been well received by developers • “The Msunduzi Municipality is the most co-operative, knowledgeable and proactive I have ever dealt with.” Jim McLean, MD Liberty Properties, Developers of the Liberty Midlands Mall. THE ECONOMIC DEVELOPMENT & GROWTH STRATEGIC BUSINESS UNIT

  8. TOTAL INVESTMENTS • Since 2000 40 new investments and 40 expansions have received concessions • Total investments exceeds R4 billion • 7000 new jobs created THE ECONOMIC DEVELOPMENT & GROWTH STRATEGIC BUSINESS UNIT

  9. FLAGSHIP PROJECTS • Golden Horse Casino and Hotel Complex • Liberty Midlands Mall, regional shopping centre • CBD Extension Node development • Freedom Square Development THE ECONOMIC DEVELOPMENT & GROWTH STRATEGIC BUSINESS UNIT

  10. GOLDEN HORSE CASINO AND HOTEL THE ECONOMIC DEVELOPMENT & GROWTH STRATEGIC BUSINESS UNIT

  11. REGIONAL SHOPPING CENTRE THE ECONOMIC DEVELOPMENT & GROWTH STRATEGIC BUSINESS UNIT

  12. MOTORWORLD CBD EXTENSION NODE THE ECONOMIC DEVELOPMENT & GROWTH STRATEGIC BUSINESS UNIT

  13. CAPITAL CITY STATUS • Capital coalition formed to lobby support • City declared the sole capital in April 2004 • Government departments relocated to the city THE ECONOMIC DEVELOPMENT & GROWTH STRATEGIC BUSINESS UNIT

  14. PREMIER’S OFFICES THE ECONOMIC DEVELOPMENT & GROWTH STRATEGIC BUSINESS UNIT

  15. MOTOR VEHICLE COMPONENTS SECTOR • Currently about 11 companies in the sector • Approximately 40 motor components made in the city THE ECONOMIC DEVELOPMENT & GROWTH STRATEGIC BUSINESS UNIT

  16. MOTOR VEHICLE COMPONENTS SECTOR THE ECONOMIC DEVELOPMENT & GROWTH STRATEGIC BUSINESS UNIT

  17. BUSINESS CONFIDENCE • At an all time high • Business turnover has doubled since 2003 • Insolvencies have halved • Job creation is steadily increasing • Confidence index is at 85 THE ECONOMIC DEVELOPMENT & GROWTH STRATEGIC BUSINESS UNIT

  18. EPI GRAPH THE ECONOMIC DEVELOPMENT & GROWTH STRATEGIC BUSINESS UNIT

  19. TOWARDS AN ECONOMIC DEVELOPMENT STRATEGY • Knowledge and Exchange programme comes at an opportune time • Virginia Beach experiences will be valuable • Action Plan identifies actions steps and time frames, and goals THE ECONOMIC DEVELOPMENT & GROWTH STRATEGIC BUSINESS UNIT

  20. ACTION STEPS • Appoint a consultant • Hold economic development strategy workshops • Review all studies and plans done to date • Development of the strategy • Obtain council approval as part of the IDP • Develop project implementation timeline THE ECONOMIC DEVELOPMENT & GROWTH STRATEGIC BUSINESS UNIT

  21. SHORT TERM GOALS • Staffing to manage development initiatives • Business retention and expansion programme • Development of tourism products THE ECONOMIC DEVELOPMENT & GROWTH STRATEGIC BUSINESS UNIT

  22. TOURISM PRODUCTS THE ECONOMIC DEVELOPMENT & GROWTH STRATEGIC BUSINESS UNIT

  23. PIETERMARITZBURG RAILWAY STATION THE ECONOMIC DEVELOPMENT & GROWTH STRATEGIC BUSINESS UNIT

  24. SHORT TERM GOALS • Increase funding for tourism sector • Creation of industrial sites • Creation of city improvement districts • Implementation of informal and street trading plan • Compilation of an economic data base THE ECONOMIC DEVELOPMENT & GROWTH STRATEGIC BUSINESS UNIT

  25. FREEDOM SQUARE THE ECONOMIC DEVELOPMENT & GROWTH STRATEGIC BUSINESS UNIT

  26. LONG TERM GOALS • Monitoring the city’s economy and amending the strategy periodically • Investigate the creation of new revenue streams THE ECONOMIC DEVELOPMENT & GROWTH STRATEGIC BUSINESS UNIT

  27. PROGRESS MADE TO DATE • 80% of District turnover generated by Msunduzi • District and Msunduzi strategies must be aligned • Agreement reached on a District-wide economic development strategy • Joint funding between Msunduzi and the District • A consultant has been appointed • Project team has been established THE ECONOMIC DEVELOPMENT & GROWTH STRATEGIC BUSINESS UNIT

  28. TERMS OF REFERENCE • Phase 1 – information gathering • Phase 11 • Visioning and strategic planning • Processes • Policy Framework THE ECONOMIC DEVELOPMENT & GROWTH STRATEGIC BUSINESS UNIT

  29. CONCLUSION • The strategy will form part of the IDP • Key areas of the strategy should be included as KPI’s in performance agreements • Strategy must: • meet national goals of halving unemployment by 2014 • Contribute positively to the financial viability of the municipality • Yield a globally competitive and job creating economy • Contribute substantially to a better life for ALL the people of Msunduzi THE ECONOMIC DEVELOPMENT & GROWTH STRATEGIC BUSINESS UNIT

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