Knowledge Services Study: Advantage Wollongong

Advantage Wollongong has recently released a Knowledge Services Capability Study undertaken by Fifth Quadrant, which has provided analysis on how Wollongong compares to other cities as a location for knowledge-based businesses.

Key insights from the study report include:

  • A diverse range of knowledge services organisations operate within the Wollongong local government area with varied business sizes, with 79%of organisations expecting an in increase in FTE over the next 12 months.
  • The top areas of performance where Wollongong is excelling for current Knowledge Service centres include; reliable telecommunications, quality of life, attractive labour/turnover rates, proximity to staff/management.
  • Staff turnover in Wollongong is 8%, which is significantly lower than the turnover rate of other centres across Australia (19%).
  • Areas of competitive advantage in comparison to Sydney, Melbourne and Parramatta CBDs is in operating costs, where the area’s performance exceeds the requirements of a service centre location.

Read the summary report here for further information.