GOVERNMENT TOOLS
business
CONSULTING
Economic evaluation - Coffs Harbour Cultural and Civic Space, NSW
Key highlights
The Client
Coffs Harbour City Council, NSW
Challenge
Coffs Harbour faced several socio-economic challenges that the project sought to address:
- Educational disadvantage
- Youth disengagement and unemployment
- Spatial unemployment issues
- Low community participation
- Lack of regional-level cultural and community facilities
- Need for CBD revitalisation and diversification
Our Method
Our comprehensive economic evaluation provided robust, independent evidence to support the business case for the Coffs Harbour Cultural and Civic Space project.
Results
Our comprehensive economic evaluation provided robust, independent evidence to support the business case for the Coffs Harbour Cultural and Civic Space project. The project was successful in obtaining funding, with our analysis playing an important role.
Economic evaluation - Coffs Harbour Cultural and Civic Space, NSW
About the project
Our method
To evaluate the full range of economic, cultural, and social benefits of the project, our team employed a multi-faceted approach:
1.Benefit-Cost Analysis (BCA): Conducted in accordance with Australian and NSW Government guidelines, adapted from frameworks used for library and information services assessments.
2.Economic Impact Analysis (EIA): Utilized the LGA Economic Impact Model to assess the project's effect on both the national and local economy.
3.Wider Community Benefit Analysis: Examined qualitative impacts not captured in the BCA to provide a holistic view of the project's benefits.
Key findings
Our analysis revealed significant potential benefits from the Coffs Harbour Cultural and Civic Space project including a positive benefit cost ration, significant job creation and tourism benefits.
Our analysis identified several significant social and cultural benefits:
- Community Cohesion: Improved access to cultural facilities and programs targeted at at-risk groups.
- Educational Resources: Enhanced access to learning opportunities and cultural activities.
- CBD Revitalization: Diversification of CBD offerings, supporting its role as a key employment and cultural hub.
- Environmental Benefits: Reduced car trips due to co-location of services.
Results
Our comprehensive economic evaluation provided robust, independent evidence to support the business case for the Coffs Harbour Cultural and Civic Space project. Key outcomes include:
- Demonstrated the project's potential to address socio-economic challenges in the region.
- Highlighted the significant cultural and economic benefits of the investment.
- Quantified the project's potential to boost tourism and revitalize the CBD.
- Provided a strong rationale for investment, showing positive returns and community benefits.
The project was successful in obtaining funding, with our analysis playing a crucial role.
Want to learn more?
Our economic consulting team is engaged by councils and organisations across Australia to provide in-depth insights behind the data. Our experts draw on their knowledge of urban and regional economic development and years of experience working with decision makers across Australia. This information is used by councils to develop evidence based economic development strategies, investment attraction plans and support grant applications.
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