Council to review RIC and EDAB to bolster economic recovery

Supporting post-COVID future economic development opportunities will be the focus of a review of Council’s Redland Investment Corporation (RIC) and Economic Development Advisory Board (EDAB).

Redland City Mayor Karen Williams said with global economies adapting on the back of the Coronavirus pandemic, the time was right to review RIC and EDAB to ensure Council continued to support the local economy.

“The future of our economy is bright with more than 130 major projects and investments worth more than $6 billion on the horizon, with the potential to deliver thousands of jobs” Cr Williams said.

“As we recover from the COVID pandemic it’s important we take advantage of these opportunities and this review is all about building on these foundations to deliver the infrastructure, jobs and partnerships needed to support the community.”

Cr Williams said both reviews would be run in parallel, with no impact on existing RIC projects.

This all about transitioning rather than stopping; so it will be business as usual for these existing projects, including the our Priority Development Area precinct redevelopments and revitalisation of Capalaba town centre, which are all currently under way.

“Both RIC and EDAB are focused on building our local economy, so it makes sense for these reviews to be run in parallel, with a report to come back to Council by 30 June 2021.”

Cr Williams said Council was committed to working with industry and all levels of government to continue positioning our region for future growth and economic prosperity.

“We all play a part in identifying employment and training opportunities to address skills gaps and supporting initiatives to grow the local economy,” Cr Williams said.

“Examining our structures such as RIC and EDAB will continue to position Redlands Coast as a competitive, welcoming destination for talent, capital and commerce.”

About RIC and EDAB

RIC is a wholly Council-owned company established in 2014. It has an independent Board that oversees key projects at Council’s direction.

EDAB was established in 2015 and comprises business leaders from the city’s key industry sectors. The Board provides advice to Council on economic initiatives and projects.