GOVERNMENT TOOLS
business
CONSULTING
Building the economic evidence base for Rockhampton's next economic strategy
Key highlights
The Client
Rockhampton Regional Council
Challenge
The Council wanted an economic evidence base to inform their economic development strategy. This challenge is relevant to any council needing to prepare an evidence based economic development strategy.
What Was Learned
.id undertook a comprehensive analysis of the local economy. The analysis covered the current economic position, recent trends, drivers of recent change, benchmarking, strategic sectors and localised SWOT.
Results
Our analysis highlighted the need for projects can leverage off the next wave of investment and help support sustainable economic growth in Rockhampton.
Challenge
Solution
Outcomes
The outcome for Council is a robust economic evidence base that will underpin the preparation of Rockhampton’s next Economic Development Strategy. This evidence base means that Council can make confident, informed decisions about the long term actions that can help drive more sustainable growth.
The second outcome for Council is a pack of presentation material that can be used to guide investment attraction and advocacy efforts. Investment attraction activities were identified as one crucial opportunity to make the most of the next wave of construction and renewable energy projects.
Key Findings Relevant to Similar Regions
This case study will be relevant to Regional Cities, particularly those who have experienced volatile economic growth.
Rockhampton is a major regional city located in Central Queensland. Like many regional cities across Australia, Rockhampton has become increasingly important to their surrounding region as a major service hub. Sustainable economic growth has been a challenge however, with Rockhampton experiencing the ups and downs that come with major construction projects and mining activity.
- Sustained economic and job growth is a challenge
- Jobs ads are surging but attracting workers is hard
- Short term forecast is positive – but need to convert opportunities into sustained growth
- Less exposed to COVID-19 means council can focus on expansion strategies
Want to learn more?
The online economic profile for Rockhampton Regional Council can be found here. Or click here for economic data on your region.
Check out articles from our Economics team here, or feel free to book a meeting if you would like to learn more about how we can help you build the evidence base.