Moreton Bay Regional Council has today outlined a new draft plan to create 100,000 jobs and “transform the region’s economy into a nimble and resilient powerhouse”.
The Regional Economic Development Strategy (REDS) will be designed to help the region reach its 2041 goals of being “Bigger, Bolder, Brighter”.
Bigger - with a $40 billion economy
Bolder – with 16,000 new businesses
Brighter – with 100,000 new jobs
“I’ve repeatedly said that my driving motivation as Mayor is to help provided certainty at this uncertain time,” Mayor Peter Flannery says.
“By investing in economic growth and working to attract new business investment, council will be helping to generate new employment opportunities, which are critical right now.
“I believe this means a new direction for economic growth is required here in Moreton Bay Region, one that is unafraid to ambitiously attract new industries that will provide a high level of value to the economy.
“It is not an end, but a beginning of a new approach to economic development that seeks to acknowledge and support a wide partnership across the Region.”
Work on REDS began in May to provide short-to-medium and longer-term direction for the region’s economy, cultivate growth opportunities, and invigorate the local job market. The draft strategy will be released for public consultation from Thursday, August 6 until August 28.
The region’s economic drivers are its $1 billion tourism industry; major retail hubs such as Strathpine and North Lakes; Industrial precincts at Brendale, North Lakes, Narangba, Burpengary and Elimbah East; Agriculture and the booming Property market.
However, the Mayor wants to see an “enthusiastic embrace” of new innovations and smarter technology like digital communication infrastructure, medical research hubs, nurturing local entrepreneurs and start-ups and facilitating new investment.
“Today, Moreton Bay Region remains one of Australia's fastest growing regions with a population forecast to grow by over 50 per cent to more than 690,000 by 2041, that’s larger than the population of Tasmania,” the Mayor says.
“However, over the last ten years, employment and business growth has not kept pace with the population growth and the regional economy has become very aligned to and reliant upon population growth.
“To ensure the regional economy can quickly respond to changing markets and evolve into the future, it’s essential to diversify the range and type of drivers that have traditionally underpinned its success.”
The motion on the draft plan was unanimously carried at Council’s meeting today.
An annual economic scorecard will be developed to track progress towards the identified goals and capture a variety of annual changes and other trends across the region and across the economy.
Council has taken on an officer to oversee the process and has announced it will employ 130 more staff to help serve the region.