2021-10-12 Planning & Environment Committee Meeting Agenda

PLANNING & ENVIRONMENT COMMITTEE MEETING AGENDA                                     12 OCTOBER 2021


10    PEREGIAN DIGITAL HUB – FULL YEAR REPORT TO 30 JUNE 2021

Author            Acting Director Environment and Sustainable Development, Anthony Dow
                  Environment and Sustainable Development Department

Index             ECM/ Subject/ 102.01 Digital Hub

Attachments       1.   Social Return on Investment Evaluation (52 page attachment provided
                       separately to this agenda)


EXECUTIVE SUMMARY
This report provides an update and review of the performance and activities at the Peregian Digital
Hub (The Digital Hub), for the 12 months to 30 June 2021.
The objective of The Digital Hub is to operate a commercially sustainable co-work facility whilst
delivering public service outcomes that develop the digital ecosystem and assist to meet the
objectives of Council’s Local Economic Plan, with a particular focus on accelerating the
diversification of the local economy.
The report timeframe covers the third year of operation and to mark the increasing maturity of the
Digital Hub a full and independent assessment of the value of this ratepayer investment has been
commissioned to assess whether the Digital Hub is meeting Council’s economic objectives.
A Social Return on Investment (SROI) evaluation was undertaken to assess the holistic contribution
of the Digital Hub to the local economy. The SROI methodology is used extensively to assess social
and economic values, which allocates financial value to benefits which can be otherwise difficult to
calculate.
Vaxa Group were engaged to undertake the SROI evaluation. Vaxa Group is a strategic, integrated
professional services firm working with companies, governments and NGOs to identify,
communicate and grow business and operational needs. Noosa Council has engaged Vaxa Group
previously, as part of the successful multi-million dollar funding bids for the Noosa Trails Network
and Firetech Bushfire recovery program.
The SROI was informed through the contribution of the Digital Hub’s three (3) core key stakeholder
groups:
•     Subscription members who work from the Digital Hub
•     Local digital and ‘tech’ professionals who network through Digital Hub events and programs
•     Students (and their parents/ carers) who participate in Digital Hub initiatives - after school clubs
      and school holiday programs.
Key Findings
The Digital Hub is realising Council’s strategy to unite and develop a strong, vibrant and productive
digital community. Consultation with stakeholders directly involved in Digital Hub activities provided
detailed data and anecdote regarding many value-adding economic activities.
Following are the key findings attributable to the Digital Hub in 2020/21:
•     Creation of 41.5 jobs, valued at: $3,735,000 ($1,867,500 direct attribution to Digital Hub)
•     Development of numerous new digital products and services valued at: $7,810,000 (direct
      attribution $1,562,000 to Digital Hub)
•     Intended private capital investment to stimulate business or promote products valued at a
      minimum of: $180,000.



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