Challenge
In 2021, Rockhampton Regional Council embarked on a process of developing a new Economic Development Plan. As an early step in this process, the City was looking to establish a strong evidence base that could inform community discussions before launching into vision setting and action planning.
Solution
Council engaged .id to assess the current economic drivers and challenges facing the Rockhampton economy. This included analysis of recent trends, benchmarking assessment, industry evaluation and the development of economic forecasts.
Outcomes
The outcome for Council is a robust economic evidence base that will underpin the preparation of Rockhampton’s next Economic Development Strategy. This evidence base means that Council can make confident, informed decisions about the long term actions that can help drive more sustainable growth.
The second outcome for Council is a pack of presentation material that can be used to guide investment attraction and advocacy efforts. Investment attraction activities were identified as one crucial opportunity to make the most of the next wave of construction and renewable energy projects.
Key Findings Relevant to Similar Regions
This case study will be relevant to Regional Cities, particularly those who have experienced volatile economic growth.
Rockhampton is a major regional city located in Central Queensland. Like many regional cities across Australia, Rockhampton has become increasingly important to their surrounding region as a major service hub. Sustainable economic growth has been a challenge however, with Rockhampton experiencing the ups and downs that come with major construction projects and mining activity.
- Sustained economic and job growth is a challenge
- Jobs ads are surging but attracting workers is hard
- Short term forecast is positive – but need to convert opportunities into sustained growth
- Less exposed to COVID-19 means council can focus on expansion strategies
Further Information
The online economic profile for Rockhampton Regional Council can be found here. Or click here for economic data on your region.
Check out articles from our Economics team here, or feel free to book a meeting if you would like to learn more about how we can help you build the evidence base.
