Economic analysis

Economic profiles

Our economic profiles tell the story of local economies. Looking beyond merely repeating factual statements and presenting data, our approach is designed to better inform councils about a location’s strategic strengths and weaknesses as they develop over time. We tailor the story to the audience, using charts, tables and maps to complement a narrative that identifies the unique characteristics of a local area.

Economic development strategies

Using our suite of economic and demographic information tools, we identify industry and employment trends, labour force skills, competitive strengths, strategic industries, trade links, supply chains, tourism, gaps and future drivers of growth to form development strategies that foster economic growth and leverage off major economic drivers. We build economic development strategies using frameworks that focus on four main questions: Where are we now? Where do we want to go? How are we going to get there? How do we know when we have arrived?

Benefit-cost assessments and impact modelling

.id’s economic evaluation framework supports the preparation of business cases for State and Federal Government funding submissions. We provide councils with a detailed evidence base to support their business case, consisting of four inter-related parts: Strategic context analysis; Benefit Cost Analysis; Economic Impact Analysis and Wider Community Benefit Analysis. From airports to major events and recreational facilities, we provide comprehensive benefit-cost analysis and economic impact modelling for a range of projects.

Strategic industry analysis and segment profiling

We use economy.id and key economic indicators to identify which industries drive the local economy and who they employ. This analysis can identify blue chip industries as well as emerging industries and niche sectors – a great first step in the development of a business engagement plan.

Employment projections

Is there a mismatch between population growth and local jobs? By undertaking an historical analysis of employment and economic trends, we identify key relationships between local economic performance and variables such as local population growth and state economic growth. We use our understanding of future growth to develop indicative forecasts to estimate employment needs.

Tourism and visitor economy profiling

Is the visitor economy a strategic sector in your region? Do you need to target a new tourism campaign? We combine economy.id and Tourism Research Australia data to analyse how the industry is growing over time, key visitor segments, factors influencing visitation in the region, and how major events contribute to the economy. We then identify actions to address challenges or grow opportunities.