Introduction

In February 2010 the Penrith Business Alliance commissioned the development of the Penrith Health and Wellbeing Economic Strategy.

This strategy, being completed by Strategic Economic Pty Ltd, will initiate a set of projects to further develop the growth of investment, skills and jobs in an already strong health and wellness sector in Penrith.

The project also has the backing of the NSW Government with the Premier placing three of the PBAs key projects from this strategy in the Government’s response to the 2009 Western Sydney Jobs Summit ¹.

The identification of Penrith as a potential Capital for the Health and Wellbeing industry was first proposed by Professor Ed Blakely in 2006 during his time as Head of the University of Sydney’s Planning Research Centre.

The overall objective of the project is to:

“Support the diversification and restructuring of Penrith’s economy through facilitating the delivery of key infrastructure, investment, skills and business opportunities that grow Penrith’s Health and Wellbeing economy”

The purpose of this page is to:

- provide updates on the progress of this project

- provide background information on the local health and wellness industry

- profile some of the key health and wellness assets and strategic advantages of Penrith

- allow community stakeholders to contribute and provide feedback on the project

The Existing Economy in Health and Wellness

One of the most significant economic trends of the last decade has been the emergence of the health and wellness industry. This growth has been driven by factors such as an ageing population, increases in lifestyle related diseases and changing attitudes to personal health and wellness.

Employment

In 2006, Penrith provided approximately 7,000 jobs in direct health care. This was almost a 50% increase in total direct health jobs compared to 1996. This figure also represented 26% of all jobs growth in Penrith between the two periods.

- By 2031 this figure is expected to reach 15,000 jobs in direct health care alone ³.

- 13% of all jobs in Penrith are now provided in the direct health care industry.

Further, these figures do not account for jobs in Wellness related industries such as; fitness, healthy food manufacture, weight loss & supplementation, natural therapies, or industries that generally identify as being in the business of Wellness.

Size of the Health and Wellness Industry

In Penrith the Health and Community services sector alone has a total annual economic output of $845 million ². Again, the actual economic contribution of the health and wellness industry would be significantly larger as this figure does not include other Wellness related industries.

The sector also stimulates significant local economic activity through large multiplier impacts on other sectors that supply Penrith’s Health and Community service industry.

- The local Health and community services sector purchases over $120 million worth of products and services from other Penrith industries each year².

- 29% of these purchases are products supplied from Penrith’s Manufacturing industry

- 21%of these purchases are services supplied from Penrith’s Business Services industry²

Value of the Health and Wellbeing Industry

The total output of Penrith’s Health and Community services sector is $845 million, representing 5.4% of Penrith’s total annual economic output.

However, Health and Community services create an estimated $665 million of value added activity to the economy every year.

- This is more than 10% of all the total value of the Penrith economy.

Only manufacturing (16.6%) and property and business services (10.7%) create more value added activity in the local economy.

- If Wellness related activity was added to estimates, the Health and Wellness industry would arguably be the 2^nd largest contributor to economic value in Penrith (behind Manufacturing)⁴

Penrith’s Health Infrastructure

The Nepean Hospital provides the centrepiece for a health precinct with specialist and support medical services and a business precinct including medical and biotechnology and health sciences research.

The Hospital is the regional hospital in the Sydney Metropolitan region and a significant asset to Penrith. The 420-bed hospital located in Kingswood includes several specialist departments and is a teaching hospital for the University of Sydney.

- A $138 million expansion is underway (2010) that will increase the hospital by 60 beds.

Penrith is also home to the 121 bed Nepean Private Hospital and the following leading health organisations/ institutions:

• Natural Health Society of Australia
• Nepean Division of General Practice
• Nepean Medical Research Foundation
• University of Sydney, Medical School Nepean
• TAFE WSI Health Sciences faculty, Kingswood

Health & Wellness Firms

Local leading firms that currently operate from Penrith include:

• Tony Ferguson Weightloss and Wellness Centre
• Hospital Specialist Clinic
• ASP Healthcare

Local Research and Technology

- Virtual Critical Care Unit at Nepean Hospital

The Nepean Hospital at Penrith boasts the “world’s first virtual intensive care unit,” where specialists remotely care for patients in the Blue Mountains areas of Katoomba and Lithgow.

- Key People

[profiles under construction]

Project updates listed here

- …..Penrith’s HEP Vision

-       Premier’s response to Western Sydney Jobs Summit

-       Healthy Workers Project Submission to NSW Health- CHIP’s

-       Projects to be added (under construction)

To receive regular updates on the project please email the words ‘SUBSCRIBE TO HEALTH’ to admin@penrithbusinessalliance.com.au

Footnotes:

1 – Western Sydney Job Summit Response

2 – REMPLAN 2010

3 - Transport Data Centre, 2006

4 – PBA estimate