2015-11-10 - P&O Agenda - Item 18, Attach 1&2 - Draft Noosa Shire Local Economic Plan

4. The Economic Vision
      The vision statement for this Plan is: “A DYNAMIC AND RESILIENT ECONOMY FOR GENERATIONS TO
      COME.”
      We will achieve this vision by focusing on:
             encouraging business growth in industry sectors that have low environmental impact and
              high economic value
             leveraging and enhancing Noosa’s brand
             recognising and supporting sustainable tourism as an ongoing key economic driver
             recognising education as a key feature of knowledge economies
             focusing on Council’s regulatory role (for example the planning scheme) that enables
              business development in industry sectors of competitive advantage and opportunity
             encouraging a spirit of entrepreneurship and innovation in the Noosa community
             advocating on behalf of the community
             supporting specific strategies focused on developing priority industry sectors:
               -   health care and wellness
               -   digital economy
               -   environmental industries
               -   rural enterprise
               -   tourism
               -   professional services
               -   creative industries.
      There is a role for Council to play in economic development, particularly around establishing an
      environment that is conducive to economic growth. However many other organisations (including
      Federal and State Governments, chambers of commerce, Tourism Noosa, and private enterprise)
      play an important role in the development of the local economy.


  The Committee for Economic Development Australia (CEDA) recently released a report on the future of
  Australia’s workforce. It clearly states that “the path to prosperity in this new global order will be
  innovation” and that “the commodity in scarce supply will be ideas”.


5. The Local Economic Plan
      Noosa shares the challenge of developing high value, low impact knowledge industries with many
      other regions. However we have the opportunity to tailor our response to our own circumstances.
      While this will include a number of universal approaches to business development, such as
      networking, technology uptake, grants and/or funding and promotion, it takes, above all, a home-
      grown response to our local opportunities, challenges and issues.
      There is little disagreement that knowledge and ideas are the currency of future economies,
      particularly as the global trend towards more serviced-based economies continues.         Actions
      associated with this Plan look to create an environment that supports business and industry to be
      more innovative, and to both explore and develop original concepts and ideas.
      Focus of Actions
             replace population growth with growth in industry sectors that have high economic value,
              particularly those that have a low environmental impact and export products and/or services
              outside of the Noosa Shire
             diversify the structure of the local economy and grow smart, high value industry sectors
              particularly those that export products and/or services outside of the Noosa Shire to limit
              exposure to sudden and/or unexpected negative changes in key industries
             encourage business growth in sectors that provides a wider range of employment options
              and pay scales
             utilise the strong Noosa brand to grow nominated priority industry sectors
             leverage local expertise to support the diversification of the local economy
             explore collaborative industry-driven models to deliver local economic development
             explore new models to fund local economic development.
      Local economic priorities have been considered in the following context:
             fit with Noosa’s economic vision
             align with Council's sustainability principles
             meet community aspirations
                                                                                                  5|Page