Decision details

That Council:

1.       Notes that the Adelaide Economic Development Agency’s draft 2026/27 Business Plan identifies AEDA’s role in accelerating economic growth, supporting businesses, attracting visitation, activating precincts, promoting the city and strengthening Adelaide’s position as a destination for investment, events, hospitality and tourism.

2.       Notes that Council has not yet adopted the 2026/27 Business Plan and Budget and retains the opportunity to consider targeted funding allocations that support economic growth, city activation and business confidence, while recognising that any material changes not publicly consulted on may require further consultation and delay budget adoption beyond 30 June 2026.

3.       Notes that a staged increase to AEDA’s base budget over the next three years has been workshopped and incorporated into the draft 2026/27 Business Plan and Budget, including a $742,000 increase in 2026/27, together with an additional $307,000 allocated for an AEDA Small Business Program, bringing the total increase in AEDA funding in 2026/27 to $1.049 million. This represents approximately half of the planned $2.1 million staged increase in the first year.

4.       Notes that all of the Precincts are a strategically important precincts for hospitality, entertainment, arts, culture, students, visitors, workers, residents and small businesses, and that activation can assist in increasing visitation, dwell time, spend and confidence across the precinct.

5.       Notes the letter sent by the Renew Adelaide Chairperson dated June 2026 confirms that Renew Adelaide’s operations to occupy vacant and underutilised buildings carry a budget deficit, and that increased investment would support a growing demand in excess of 1,500 Expressions of Interest, with an approximate 80% transition rate to long-term commercial leases and a 13.7:1 return on investment as determined by a recent Economic Impact Report.

6.       Requests that Council commission an Independent Productivity, Expenditure  and Efficiency Review of Council’s operations to identify any efficiencies, cost savings, reprioritisation opportunities and revenue opportunities that can be achieved without reducing critical services, and that the review consider whether any identified savings could be redirected to support future investment in city activation, precinct development, small business support, vacant space renewal and the night-time economy, including but not limited to:

a.       Developing all Precincts their business growth, revitalisation and implementation initiatives;

b.       support for priority initiatives in AEDA’s 2026/27 Business Plan;

c.       night-time activation within the CBD.

7.       Requests that the findings of the independent review be presented to Council in time to inform the development of the 2027/28 Business Plan and Budget, with a broader examination of Council’s operations and expenditure so we can further identify efficiencies.

8.       Requests that the Administration prioritise a one-off additional allocation of $100,000 for Renew Adelaide through the 2026/27 Business Plan and Budget Quarter 1 Review, to be included within the Adelaide Economic Development Agency allocation, to support Renew Adelaide to continue delivering initiatives that activate vacant spaces, support entrepreneurs, encourage new business activity and contribute to CBD and North Adelaide vibrancy.

9.       Requests that AEDA report back to Council on the outcomes of the additional funding, including activities delivered, business participation, visitation outcomes, estimated economic impact, lessons learned and recommendations for future city activation funding in a timely manner that would assist the independent review.