2021-12-13 GC Agenda - Item 9 - Attachment 1 - Draft Economic Development Strategy 2021-2030

5.9. Implementation, Monitoring & Reporting

                                              Annual Reporting



      Economic Profile                       Strategy Measures                       Program Activity
      State of the Economy                     Monitoring Progress             Economic Development Initiatives

A three tiered approach to monitoring and reporting will be adopted to track the health of the
local economy, progress towards strategic outcomes and the impact of economic
development programs and initiatives.
   1. An annual Economic Profile for the Noosa Shire will be developed to communicate
      the state of the economy. The Profile will talk to key economic indicators including
      gross regional product, industry value added, work force data, business counts and
      income levels. It should be noted that there are a number of macroeconomic factors
      that will influence the local economy and will be reflected in these indicators that are
      beyond the influence of Council, stakeholders and the local community.


   2. Targeted measures have been identified to track the progress and effectiveness of
      the economic development strategy.

             Indicator                         Source                              Target

  Growth in Gross Regional         Economy.id measured annually      GRP exceeds population growth
  Product (GRP) compared to        30 June
  population growth
  Average Median household         Census data measured 5 yearly     Above Queensland
  income level compared state      Census cycle
  average
  Businesses Counts by             QGSO Queensland Regional          Growth in the number of businesses
  turnover                         Profiles measured annually 30     with a turnover above $100k
                                   June
  Business Counts by turnover      QGSO Queensland Regional          Growth in the number of employing
                                   Profiles measured annually 30     business
                                   June
  Unemployment rate                Economy.id measured annually      Below the state average
                                   30 June
  Education, skills & training     Census data measured 5 yearly     Above Queensland Levels
  qualifications                   Census cycle
  Investment in infrastructure     Noosa Council data                Year on year increase



  Industry mix by industry value   Economy.id measured annually      Year on year increase - % Growth of
  added                            30 June                           future focused industries.


  Total employment by industry     Economy.id measured annually      % increase in future focussed
  mix in Noosa Shire               30 June                           industries.




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