Attachment 7- Economic Impact Statement

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8.3 Economic   Economic disbenefits would be a relevant factor if the proposed development would lead
disbenefits    to significant trading effects such that the proposed development would need to ‘make
               good’ these competitive impacts. However, as shown by the analysis presented in section
               5.5 and in Chapter 7, the proposed development responds to an existing and growing
               need for additional retail floorspace, is therefore supportable in market terms, and would
               not lead to any significant adverse impacts on other existing centres.

               Importantly, measurable effects on staffing levels are generally only felt when businesses
               experience more significant shocks to sale performance of at least 10% or more. In the
               case of major national brand supermarkets, staffing levels tend to be associated with the
               size and range of departments on offer, and would not be affected unless very significant
               declines in customer patronage take place.
               Economic disbenefits may be generated if the development were to lead to other adverse
               impacts, such as increased road congestion that may affect acceptable performance on
               the surrounding road network. However, the traffic analysis undertaken for the proposed
               development by SLR Consulting demonstrates that traffic performance on surrounding
               streets and proposed access roads would be within acceptable performance thresholds
               following the development.
               Overall, any minor disbenefits are significantly outweighed by the positive economic
               outcomes presented in section 8.3.

8.4 Summary    In summary, the economic outcome arising from the proposed development of Noosa
               Civic Village in isolation, and combined with the Stage 2 Retail application, would be
               strongly positive, consisting of:
               •    Additional retail offer to serve people living within the region and visitors.
               •    Significant economic activity during construction, including 490 direct jobs created
                    across the two projects.
               •    An estimated 620 new ongoing employment positions within the NBC (480 within
                    the VMU precinct), or 470 FTE jobs, and with another 760 or so jobs created
                    indirectly in the wider economy.
               •    Consumer benefits including additional choice and convenience, greater price
                    competition, a wider retail offer, improved amenity for residents, workers and
                    visitors, new diverse and affordable housing, and business development.
               •    Community benefits generated by reduced travel and lower emissions as people are
                    not required to travel to access shopping opportunities.
               •    Business benefits from the provision of new offices within an amenity-rich
                    environment.
               •    Tourism benefits with the provision of new entertainment and dining options catering
                    to Noosa’s visitor and events economy, plus new short-term accommodation.
               •    Catalysing development within the NBC so that it is able to fulfil its role as a vibrant
                    business and employment centre, consistent with Noosa Plan’s policy objectives.

               Against these positive outcomes, the modelling presented in Chapter 7 shows that the
               competitive trading effect on other centres would not adversely affect the role and
               performance of those centres. The project would therefore deliver a significant net
               economic and community benefit to Noosa Shire and the region.

               Noosa Village Mixed Use Development – Economic Impact Statement for Development Application   Deep End Services