2016-11-08 Services & Organisation Committee Agenda

         5
                                                                          Local Economic Plan
                                                                       Strategic & Policy Direction - Rationale,
                                                                           Objectives, Priorities. 5 Year Plan



     The Local                                                                     Action Plan
   Economic Plan                                                   Annual - High Level Priority Actions to Achieve
                                                                   Strategic & Policy Direction. Reviewed Annually


Noosa shares the challenge of developing high value, low                      Implementation Plan
impact knowledge industries with many other regions.
However we have the opportunity to tailor our response to         Annual Projects - Who Does What, When and How
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.               Focus of Actions
There is little disagreement that knowledge and ideas         •   replace population growth with growth in industry sectors
are the currency of future economies, particularly as the         that have high economic value, particularly those that have
global trend toward more serviced-based economies                 a low environmental impact and export products and/or
continues. Actions associated with this Plan look to create       services outside of the Noosa Shire
an environment that supports business and industry to be      •   diversify the structure of the local economy and grow
more innovative, and to both explore and develop original         smart, high value industry sectors particularly those that
concepts and ideas. Important to this will be the retention       export products and/or services outside of the Noosa Shire
and attraction of skilled and talented people and the             to limit exposure to sudden and/or unexpected negative
establishment of alliances between council and stakeholder        changes in key industries
organisation and institutions across priority sectors.
                                                              •   encourage business growth in sectors that provide 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

                                                              •   Establish and/or strengthen existing alliances with
                                                                  stakeholder organisations and institutions, and
                                                                  governments to leverage resources and share information
                                                                  and connections.