Local
Renew Adelaide delivered $3.90 worth of local wages and business profits for every $1 that taxpayers spent on its operations over 12 months, according to a cost-benefit analysis released today.
Local
Renew Adelaide has secured its first Hutt Street property and is negotiating with property owners throughout the precinct to reduce its high vacancy rate and improve its image.
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The State Government’s urban renewal authority says it axed funding for Renew Adelaide’s operations in Port Adelaide because the area is growing so fast that it no longer needs the not-for-profit’s help.
The State Government has axed all funding from Renew Adelaide’s Port Adelaide program, which has helped bring 28 new businesses to life in the area since it started five years ago.
The not-for-profit organisation which establishes rent-free retail tenancy deals for Adelaide businesses is now targeting under-25s, arguing startup business ownership is a key emerging career path in the new economy.
The not-for-profit organisation setting up rent-free tenancy deals for Adelaide retail and hospitality start-ups has expanded into the commercial office market, where vacancy rates are at record highs.
