Precincts Insights Series

Shaping Urban Landscapes and Driving Economic Growth

An economic precinct, also known as a cluster, is a geographical area with a higher-than-average concentration of industry-specific resources, labour, and expertise focused on related industries. These precincts are complex and coordinated systems that leverage public and private investment to drive innovation and promote growth. When successful, precincts enhance workforce specialisation, reduce costs, and boost productivity. However, developing a precinct involves more than just designating a location on a map—it requires building on a foundation of natural industry growth and agglomeration.

In this insight series, we explore how precincts contribute to transforming urban landscapes and fostering industrial and economic growth. We offer practical guidance to precinct stakeholders, drawing on activation strategies from successful precincts.

View of the Balconies and Terraces of the Vertical Forest, Full of Green Plants

What Makes a Good Precinct?
A precinct is a complex and coordinated system that often needs to be built on a foundation of natural industry growth and agglomeration.

In this article, we explore how to identify and develop a successful precinct.

A street market with lot of people roaming around

How to Grow a Successful Precinct
Precincts are an important driver of economic growth - lowering costs and increasing productivity.

This article offers precinct stakeholders practical guidance, drawing on successful activation strategies to maximise the potential of these dynamic ecosystems.