2015-12-14 General Committee Agenda Attachment 1 to Item 3 Noosa Shire Economic Plan

Cluster mapping highlights where Noosa has an                   growing at the nations level but not currently strongly
existing competitive advantage against a national               represented in the region (lower right quadrant). It
industry backdrop using Location Quotients – In this            further shows employment sectors that are forecast
instance it relates to the concentration of industries          to contract nation-wide, identifying those sectors
by employment, overtime. By doing this, growth                  likely to be shedding jobs across Australia (left side
opportunities in specific industry sectors can be               of the graph).
identified and considered.
                                                                Well represented, high growth industry sectors for
Industry clusters located above the “1”on the vertical          Noosa Shire include:
axis indicate an existing industry concentration and
                                                                •   Rental, hiring and real estate services (LQ 2.2)
a competitive advantage within the region. Forecast
national industry employment growth (2014-21019                 •   Accommodation and food services (LQ 2.1)
is plotted along the horizontal axis, with ‘zero’ per           •   Retail trade (LQ 1.5).
cent’ growth over the five years creating a midline.
The further to the right of this central horizontal             Future high growth sectors relevant to Noosa Shire
axis, the faster the industry is forecast to expand.            are:
Similarly, the further to the left, the faster it is forecast
                                                                •   Professional, Scientific and Technical Services
to contract. The size of the cluster (bubble) within
                                                                    (LQ 1.0)
the map represents the size of the local workforce in
the industry sector.                                            •   Financial and insurance services (LQ 0.6)
                                                                •   Healthcare and social assistance (LQ 1.1)
The cluster maps identify the national industry sectors
where the Noosa Shire has a relative competitive                •   Education & Training (LQ 1.1).
advantage (upper section). These are natural targets            •   Cluster Map (ANZSIC 1 Digit)
for economic and industrial development. The maps
also shows industry employment sectors that are




                                                                                     Noosa Shire | Local Economic Plan | Page 39