economic and workforce profiles – economy.id
Have the statistics to attract investment at your fingertips
Describe, explore and promote your economy with economy.id – a detailed online economic profile of a local government area or region.
“A tool like economy.id enables us to have relevant statistical information on hand quickly to verify our observations. It offers us the ability to understand and interpret changes and developments in various industry sectors. It will enable us to better promote the local economy and make available supporting economic statistics to assist in submissions to other tiers of government.”
Mayor, Greg Male, Monash City Council, Vic
The challenge for local government
It is vital for local government to be able quantify and describe their local economy and the role it performs in employment and wealth creation. This is necessary for developing economic development strategies, attracting investment, transport and land use planning.
Historically, economic profiling of local areas has fallen short of the needs of local government, largely because the data is complex and from numerous sources.
How can economy.id help?
economy.id (.id’s latest product) combines 11 different datasets to build a cohesive story of a local economy, how it is changing and how it compares to other areas. Over 50 councils across Australia have subscribed to this information resource since we released it in 2009. They tell us that it helps them to:
- Verify observations and assumptions with hard data
- Promote the local economy and attract investment to create jobs
- Quantify the effect of adding (or losing) jobs from the economy with Impact Assesment modelling
- Support funding requests and submissions with powerful evidence
- Share important economic information with local businesses while saving staff time
- Assist in the development of local industries and attract new industries
- Make better use of internal resources (less number crunching, more strategy and implementation)
- Deliver consistent figures in reports and information
- Build confidence in decision making
Find out how other councils use economy.id in our case study section.
“I was really pleased to attend and present at the launch. It was easy for me to speak in support of the product because I value it as a powerful tool for Councils. Even today we have a developer attending here to consider whether they should proceed with their approved residential release area, or defer it for some time until the market picks up. We will draw from the id products in describing the economic and housing profile of Penrith, and invite them to access and navigate through those to undertake their assessment.”
Craig Butler, General Manager, Penrith City Council, NSW
Functionality and features of economy.id
Economy.id is an invaluable resource with a wealth of information that can help you understand your area’s economy better. Each section of economy.id provides different economic information about your area. Learn more about the functionality and features of economy.id here.
Who uses economy.id?
Over 50 local government authorities across Australia subscribe to economy.id. See our clients for a full list.
Staff in economic development, marketing and strategic planning use economy.id to:
- Attract investment and promote the region
- Deliver economic facts and figures to the business community
- Provide evidence for funding submissions
- Educate council staff and councillors about their local economy
- Quantify the impact of adding or losing jobs to the local economy (Impact Assessment model)
Each council makes their economy.id website available to the public where community groups, investors, business people, students and the general public access the information. You can access these too at our demographic resource centre.
“economy.id is an essential tool in our suite of economic development and innovation supporting material. A simple-to-use program which keeps council staff and the community up-to-date with our council’s economic performance. This tool is essential to keeping abreast of any economic changes which may require council support or stimulus.”
Katrina Houghton, Senior Economic Development Officer, Cairns Regional Council, Qld
Try out economy.id
There are over 50 publically available economy.id sites that you can look at. Here are some links:
Bathurst Regional Council economic profile (NSW) – large regional centre
Penrith City Council economic profile (NSW) – large outer-metropolitan area of Sydney
Cairns Regional Council economic profile (Qld) – large regional and tourism centre
Tea Tree Gully City Council economic profile (SA) – outer metropolitan area of Adelaide
Monash City Council economic profile (Vic) – middle ring area of Melbourne with broad-based economy
Bega Valley Shire Council economic profile (NSW) – coastal and rural region of NSW famous for cheese production
South West Group economic profile (WA) – regional economy covering 6 LGAs in the south west of Perth
Visit all economy.id websites at our demographic resource centre.
“This is a great new way to share important economic information to assist in the development of local industries and to help attract new industry and investment within the City of Monash.”
Mayor, Greg Male, Monash City Council, Vic