9. Appendix F - Economic Impact Assessment

Impact on Future Large Format Retail
Given the current mix of tenants within the total trade area, there is an opportunity for many key large
format retail and non-retail showroom tenants which are not yet represented within the total trade area
(or primary sector) to locate at the subject site and service local residents. Tenants which are not
currently represented within the main trade area would be targeted and as such, sales generated by
these tenants would largely result from retained spending within the main trade area (i.e. a re-direction
of sales from beyond the region).

There are no significant competitive developments currently planned within the total trade area which
are likely to impact the viability of the proposed Noosa Marketplace. Further, there is a lack of vacant
or high-profile land which would appeal to prospective large format retail and non-retail showroom
tenants. Existing vacant Industry-zoned land is largely located in backstreet, internalised locations,
while the subject site is a high-profile site, representing a natural extension of the Noosa Civic retail
precinct.

Economic Need
It is the conclusion of this report that a substantial net community benefit will result from the Noosa
Marketplace development. Offsetting the trading impacts on some existing facilities, there are very
substantial positive impacts including additional choice and competition, fulfilling existing demand for
large format retail floorspace attaining escaped expenditure, and the creation of immediate and ongoing
employment opportunities within the region.

Overall, the proposed development will not adversely affect the role and function of the Noosa Business
Centre or any other designated centres within the region. It is concluded that the combination of the
substantial positive economic impacts serves to more than offset the trading impacts that could be
anticipated for a small number of the existing stores in the region. Further, the impacts would not
threaten the viability of any of these traders or showrooms.




        Noosa Marketplace, Queensland
        Economic Impact Assessment                                                                  5
        May 2019