Second term for Invest Melbourne

The City of Melbourne has unanimously backed a second term for the Invest Melbourne Advisory Board following an overwhelmingly successful first year in operation.

Councillors voted in support of the move at their April 30 council meeting, with former vice president strategy and culture at the University of Melbourne Dr Julie Wells appointed as chair of the board’s second term, following the resignation of inaugural chair – River Capital CEO Amanda Coombs (pictured).

Focused on three key sectors of renewable energy, life sciences and technology, the council’s city activation portfolio lead Cr Roshena Campbell said the advisory board had “really paid dividends for Melbourne” during its first year.

According to the council report, Invest Melbourne has helped to secure seven investment projects for the city, creating 724 jobs and $345 million in capital expenditure.

This also includes one Australian headquarters and managing a growing pipeline of a further 60 projects that have the potential to deliver up to 4950 jobs, $1.5 billion in capital expenditure, and 10 headquarters and research and development centres.

“There are so many people who give so much to their city, including their most valuable resource, their time, and that is certainly the case for the members of our Invest Melbourne board industry leaders who have given up their time,” Cr Campbell said.

The board has delivered so much to date and I’m really excited to see what comes in the second term.

Lord Mayor Sally Capp said, “It [Invest Melbourne] is demonstrating results that have benefits right across our city. We should remain ambitious, we should remain diligent and we should remain committed to investments like these that have an exponential benefit in our economy.”

Invest Melbourne was established as the trade and investment attraction and facilitation arm of the council as part of its 2021-2025 council plan, stemming as action from its Economic Development Strategy 2031.

Outgoing board chair Amanda Coombs is joined by executive chairman of Kay & Burton Scott Tanner and founder and managing director of Commercial Eyes Andrew Carter in not renewing for a second term as part of the nine-person executive.

The report to council on April 30 proposed filling the three vacant board positions with candidates who have life science, business start-ups/venture capital and retail subject matter expertise. •