2015-08-18 Planning and Organisation Committee Attachment 1 to Item 8 AEC Noosa Economic Profile Final Report

Noosa Economic Profile
Final




3.7       Cluster Maps
          Cluster mapping portrays regional Location Quotients (LQs) against benchmark industry
          employment growth over time. By doing this, growth opportunities in specific industry
          sectors can be identified.
          The cluster maps highlight where Noosa has an existing natural competitive advantage
          against the national industry backdrop.
          Industry clusters located above the “1” on the vertical axis indicate an existing industry
          concentration and a strength or competitive advantage within the region. Forecast national
          industry employment growth (2014-2019) is plotted along the horizontal axis, with ‘zero
          per cent’ growth over the five years creating a midline. The further to the right of this
          central horizontal axis, the faster the industry is forecast to expand. Similarly, the further
          to the left, the faster it is forecast to contract. The size of the cluster (bubble) within the
          map represents the size of the local workforce in the industry sector.
          The cluster maps identify the national industry sectors where the Noosa Shire has a relative
          competitive advantage (upper section). These are natural targets for economic and
          industrial development. The maps also shows industry employment sectors that are
          growing at the national level but not currently strongly represented in the region (lower
          right quadrant). It further shows employment sectors that are forecast to contract nation-
          wide, identifying those sectors likely to be shedding jobs across Australia (left side of
          graph). In order to grow locally, these sectors will need to be focused in very niche
          industries.
          Cluster maps are presented at the ANZSIC single digit (19 sector) level. A more detailed
          two digit industry map are also provided for the manufacturing sector.
          Well represented, high growth industry sectors for Noosa Shire include:
           Rental, hiring and real estate services (LQ 2.2).
           Accommodation and food services (LQ 2.1).
           Retail trade (LQ 1.5).
          Future high growth sectors in which Noosa Shire is underrepresented include:
           Financial and insurance services (LQ 0.6).
           Electricity, gas, water and waste services (LQ 0.6).
           Public administration and safety (LQ 0.4).
           Mining (LQ 0.1).
          In terms of two digit manufacturing sectors, Noosa Shire is strongly represented in two
          sectors forecast to experience declining employment:
           Furniture and other manufacturing (LQ 1.9).
           Textile, leather, clothing and footwear manufacturing (LQ 1.2).




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