Moorabool council has set out a plan to guide the economic development of the shire over the next four years.
The Economic Development Strategy (EDS) outlines the aims the council has for the local economy from 2023 to 2027 and focuses on employment growth, investment attraction and business development within the shire as it prepares for the population to almost double over the next 20 years.
The strategy was brought before council at a meeting on August 2 but knocked back, with councillor David Edwards saying he wanted an economic plan that targeted more large businesses to promote local employment.
On October 4, the EDS was brought before council again. The goals of the plan were not changed, however it was edited to prioritise the development of a Business Investment Attraction Plan and Prospectus as the first action to be implemented from the Economic Development Strategy and allocate funds for its creation in the next budget.
Moorabool mayor Rod Ward was pleased to see the EDS approved.
“This is a very important strategy with a focus on attracting investment in the shire, supporting business growth and development, local workforce attraction and retention, and improving transport links,” he said.
According to the report, Moorabool has more than 37,500 residents and a total economic output of $2.8 billion, with the largest sectors being construction, real estate, manufacturing, and agriculture.
There are 10,233 local jobs, and they are growing at a slower rate than populations, contributing to “relatively high” unemployment.
There is a low rate of economic containment for the municipality, as most workers commute to Melbourne or Ballarat, and also spend a high proportion of their money outside the shire.
The report suggests a number of projects to address potential issues, mainly around supporting local jobs, and providing for a surging population.
Local jobs projects include developing a business association, a remote higher education hub, and developing a plan to attract workers and diverse and emerging industries to the shire, and supporting the existing agriculture industry through a strategy to develop growth and creating a “local brand” to promote local produce.
Infrastructure projects include an “integrated transport strategy” to help overcome road and public transport issues, a housing strategy focused on affordability and availability.
