New Industrial Space Theory - a Case Study and Empirical Analysis of Factors Effecting Newly Emerging Key Industries in Queensland

Abstract

Industry growth, stability and full employment are global economic aims of most nations and regions. Encouraging the development and relocation of 'new economy industries' is a significant component of that quest. From a theoretical aspect traditional neoclassical and behavioural theories have limitations to assist in addressing contemporary managerial interests and demands in the domain of location choice. However, the more recent 'new industry space theory' does assist in advancing our understanding. This paper uses an extensive case study analysis of Brisbane City Council to make application of that theoretical understanding. The research results provide insights into the locations factors that are considered important in selecting 'new economy industries'. A sample of 130 organisations has been surveyed to determine the important location factors and their respective weight in the decision-making context. The research has indicated that the location-decision making variables are significantly different to those examined in previous 'old-economy' industries. The research concludes with a discussion on the implications for regional and local government, the academic community and individual firms.