With over $550 million of public and private investment in Frankston’s city centre, there’s never been a better time to invest. In addition to offering a unique combination of lifestyle choices, with award winning beaches, restaurants, golf courses and parks, Frankston is fast emerging as the region’s corporate capital boasting a $5 billion economy, approximately 10,000 businesses and 36,000 jobs.
A drop of more than 2 per cent in Frankston’s unemployment figure has been attributed to a growing small business sector and increased investment. Department of Employment figures show that Frankston’s unemployment dropped from 8.3 per cent in the March 2015 quarter to 6.1 per cent in the same quarter this year. Sarina Russo Job Access Frankston manager Bruce Andrews said the opening of South East Water’s new headquarters housing 700 staff had provided a major boost and increased business confidence.
Frankston’s electorate of Dunkley had the fastest growing economy of any Victorian federal electorate in the 2014/15 financial year, and a rapid improvement in unemployment figures has followed. According to the report by SGS Economics & Planning, Dunkley topped the state with economic growth of 3.6 per cent, followed closely by the neighbouring electorate of Isaacs, with 3.1 per cent growth. The Carrum Downs-Seaford Industrial Precinct bridges those two electorates and has driven growth, against the national trend of manufacturing precincts being in decline.