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Parramatta Blog
THE CITY OF PARRAMATTA’S IMMENSE COMMERCIAL GROWTH
Over the years, Parramatta has undergone a remarkable transformation from being a historic suburb to a thriving commercial hub. Today, Parramatta is considered one of the fastest-growing commercial centres in Australia, attracting new and established businesses from various industries.
The commercial growth of Parramatta can be attributed to various factors. One of the primary factors is its strategic location. Parramatta is situated at the geographic centre of Sydney, making it an ideal location for businesses looking to establish a presence in the city. It is also well-connected to the rest of Sydney, with excellent transportation links, including trains, buses, and ferries.
Another factor that has contributed to the commercial growth of Parramatta is the support from the government. The New South Wales government has invested heavily in the development of the city, including the construction of new infrastructure, such as the light rail network, which is expected to improve transportation links in and around the city.
The growth of Parramatta's commercial sector has also been boosted by the development of new office buildings and shopping centres. Some of the notable projects in the area include the Parramatta Square, a $2.7 billion development that will house the new headquarters of the Western Sydney University, as well as numerous commercial and retail spaces. Additionally, the Westfield Parramatta shopping centre is one of the largest in the Southern Hemisphere, attracting visitors from all over Sydney.
Parramatta has also become a hub for start-ups and small businesses. The Parramatta start-up ecosystem has grown considerably in recent years, with a number of co-working spaces, accelerators, and incubators popping up in the area. The local government has also launched initiatives to support entrepreneurship, such as the Parramatta Start-up Blueprint, which provides funding and support for start-ups in the area.
In conclusion, the commercial growth of Parramatta is a testament to the city's strategic location, government support, and investment in new infrastructure and development projects. With its rapidly growing commercial sector, Parramatta is expected to continue to attract businesses from various industries, contributing to its position as a major economic centre in Australia.