Economic strategy to build on city strengths

Redland City Council has developed a draft Economic Development Strategy 2014-41 that charts a course for the city over the next 25 years driven by an increase in local employment, increased productivity and value-adding, along with tourism growth.

The strategy will build on Redlands as a clear lifestyle choice for residents and Council’s successful Open for Business approach to encourage investment and innovation and reduce barriers to new and growing business.

Action plans arising from the strategy will be actively monitored and managed by Council and a newly established Economic Development Advisory Committee made up of representatives of the key industry sectors in the Redlands

Redland City Mayor Karen Williams said the draft Economic Development Strategy had four key objectives – consistent annualised population growth of 1.2% (currently 1.8%), a total of 60% employment self-sufficiency (currently 52%), strong annualised average Gross Regional Product  growth of 3%  (annualised average between 2001-2012 was 3.5%) and a focus on tourism sector growth to 2% of the economy (currently 1.4%).

“Redland City Council aims to leverage the unique characteristics of the Redlands to build economic capacity and deliver prosperity for the city and its residents,” Cr Williams said.

“It is critical that the business community has ownership of this strategy and it is up to them to help us deliver.

“This strategy is not just about attracting business, but retaining and encouraging business as well.”

The draft Economic Development Strategy will now be made available for community comment through the new City Plan 2015 website, library displays and forums across the city, expected to begin in July.

The feedback from the community and key stakeholder groups will be incorporated into the final plan for adoption by Council.

The draft Economic Development Strategy is one of the documents that underpin current planning for Redland City as part of the Redland’s City Plan 2015.

 “We will be setting clear goals with action plans developed for all the priority sectors of our economy,” Cr Williams said.

“Key local sectors for future growth have been identified. They are construction; education and training; financial and insurance services and professional services; healthcare and social assistance; niche manufacturing; retail; and tourism.”