2021-10-12 P&E Agenda - Item 10 - Attachment 1 - Social Return on Investment Evaluation

7.0 Elements of value generation - SROI
The social and economic value attributable to the Digital Hub is achieved through several direct and indirect
means. This has been determined through analysis of the activity of the Digital Hub and input from
stakeholders. Some of these values are known, and others are estimated. This includes:

     •   Capital expenditure (initial $2.9m and then upgrades through grants) with multiplier values
     •   Operational expenditure primarily within the local economy
     •   Revenue generation through member subscription
     •   Facilitating the creation of additional local jobs, particularly high value jobs
     •   Facilitating additional 3rd party investment – private sector and public sector
     •   Generating positive profile (e.g., through media) which builds regard for Noosa, Council and would
         generate interest from the business sector (reputation & brand)
     •   A range of qualitative, social and economic benefits for individuals and groups
          - helping to set career prospects and objectives (especially within young people)
          - initiation of companies and product development
          - accelerating ideas and innovation (through a combination of collaboration, mentoring, advice,
               support, networking)
          - structured collaboration opportunities which generate ideas, leads, ‘dealflow’ and new clients
          - providing a technology-focussed education & teaching space
          - talent retention/attraction
          - local purchase and consumption of goods and services.




     Benefit of initial capital investment to establish operations

     The Digital Hub was established through initial Council capital investment of $2.9m as a significant
     initiative within Council’s Economic Development Plan.

     While this expenditure is historic, based on multiplier impacts for construction projects, this will
     have generated a cumulative benefit of ~$5.51m and created the equivalent of around 24 direct and
     indirect jobs during construction.

     This is based on multipliers within the National Economics/.ID modelling undertaken by Council on
     other projects.




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