Last week, Fairfield City celebrated the 2016 Fairfield City Local Business Awards, recognising many successful businesses that contribute greatly to the Fairfield LGA economy.
Fairfield can be proud of its growing economy. The value of our local economy has grown by 5.3 per cent from this time last year.
Fairfield's economy is held together through the strength of our small local businesses. About 98 per cent of our 14,000 business are small businesses (employing fewer than 20 people). This is one business for every 14 residents in our LGA, providing about 50,000 jobs.
Having a successful, growing economy has a direct effect on development in the area. Since the financial year ending June 2002 and up to June 2015, Fairfield City has had $1.7 billion worth of residential development and $1.5 billion in commercial development. This year alone it is expected that almost $500 million of investment will occur in our City.
It is an exciting time to live in Fairfield, with a large amount of infrastructure about to start in our own backyard. This will provide growth opportunities for businesses and will lead to the creation of tens of thousands of new jobs in and around our City.
Council is also investing in our growing economy and the future of families, with significant infrastructure work under way.
This includes the upgrade to Wetherill Street and the upgrade of Smithfield Road to four lanes, which will start soon. Council advocated for support of these important projects and was awarded funding by the Australian Government, in partnership with the NSW Government, to carry out the works.
Recently I have been advocating for light rail to connect Fairfield to the regional cities of Liverpool and Parramatta and the second airport. The Western Sydney Regional Organisation of Councils supports this move, with the light rail expected to service close to one million people.