Attachment 7- Economic Impact Statement

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25. Other factors are also relevant:

      a. In most cases the competitive effects would result in lower sales expectations for
         centres that would otherwise be trading well above the typical average –
         particularly those that contain a supermarket trading at above-average levels.

      b. In some instances the impacts would simply involve the redistribution of sales
         from one store to another within an operator group. This would happen, for
         example, if Coles were secured as the supermarket operator at Noosa Civic
         Village, in which case there may be some switching of shopping trips away from
         the existing Coles supermarket at Noosa Junction. In such cases the existing
         stores operated by each brand would continue to trade from the established
         stores, even if the performance of these stores would be somewhat reduced.
      c. Centres would be experiencing large increases in sales in the years leading up to
         the development, so that once the impacts occur the resulting sales
         performance is still well above current levels. Moreover, retail market growth
         thereafter would erode the one-off impacts.

26. Overall, the conclusion to be drawn is that the proposed additional retail floorspace
    will generate some competitive effect, but that this will occur within a larger market
    at the time, and the effects would not lead to any diminution in the role or offer
    available at competing centres.

Economic outcomes
27. The development will generate significant positive economic outcomes during
    construction stages and the ongoing operation of new business activity. These
    positive economic benefits can be summarised as follows:

      a. An estimated 330 new direct jobs over an 18-month period, plus significant
         indirect employment in the wider economy, during the construction phase.
         Another 160 construction jobs would be directly generated by the Stage 2 Retail
         project.

      b. An estimated 500 new ongoing employment positions created within the NBC,
         equivalent to nearly 380 full-time-equivalent (FTE) jobs, and with significant
         indirect FTE jobs (estimated at around 660 or so) generated in the wider
         economy. Another 140 positions (100 FTE jobs plus 125 indirect FTE jobs) would
         be generated by the Stage 2 Retail development.
      c. A wide range of 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 opportunities, and
         opportunities for local business development.

      d. Community benefits generated by reduced travel and lower emissions as people
         are not required to travel to access shopping opportunities.

      e. Benefits for businesses (existing and new) with the provision of new offices
         within an amenity-rich environment.


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