Next five-year plan for regional economic development unveiled

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Maroochydore City Centre

Sunshine Coast Council has today launched the second five-year implementation plan for the 20-year Sunshine Coast Regional Economic Development Strategy 2013-2033 (the REDS).

The Strategy and its first five-year implementation plan were launched in September 2013 and since that time, delivered significant results for the Sunshine Coast.

Since 2013, the implementation of the initiatives identified in the Strategy has driven a significant shift in the performance of the Sunshine Coast economy. In that time, the Sunshine Coast economy grew by almost $5 billion, there are now more than 23,500 additional jobs in our high-value industries, more than 500 new businesses opening annually, and household incomes have increased by 25% based on the data available when the strategy was first released. 

In addition, the region has $12.5 billion in public and private investment underway or in the pipeline fuelling growth in a number of industries across the region that are expected to generate increased long-term, careers for the local community.

On the back of the region-shaping projects, the Sunshine Coast now enjoys the second highest percentage of jobs growth in the State.

Sunshine Coast Council Mayor Mark Jamieson said the key to this success was having a clear, achievable but aspirational plan for the region’s economy and delivering what you commit to do.

“I am really proud of the fact the Sunshine Coast is now one of Australia’s leading city regions of the 21st century,” Mayor Jamieson said.

“Without a doubt, the release of the Regional Economic Development Strategy in 2013 was a catalyst to start the region’s transition from the challenging times it had experienced during the global economic downturn to one with a new, more diverse, adaptable and innovative economy.

“The four goals in the Strategy – growing our economy, generating more high value employment, increasing exports and improving household incomes – remain at the heart of our next five year implementation plan.

“Implementing the next five-year implementation plan is critical if we are to build on the momentum we have generated so far - and ensure that structural resilience is well and truly built into our economic fabric.

“In the next five-year period, our new suite of region-shaping projects will continue to focus on the core architecture that our region needs to support its economic resilience and productivity.

Mayor Jamieson also acknowledged the efforts and contributions of business, industry, the University of the Sunshine Coast and the other tiers of government in achieving the results so far and encouraged the continuation of the collaboration to deliver a stronger and more resilient economy.

“We need to keep focussed on the main game and keep working together to secure the region’s future through our collective efforts to deliver the next five year implementation plan,” Mayor Jamieson said.

HeliMods - Telstra Queensland Business of the Year - founder and managing director Will Shrapnel said the region was only getting started.

“It’s been great to work together with Sunshine Coast Council and the community on the REDS and to see some of the results of that collective work come to fruition,” he said.

“The Regional Economic Development Strategy is important to us as a business.

“It’s great to be able to work together with government, industry and the community, and to take a forward-looking view at how we can collectively grow and shape the future of our region.

“Projects like the International Broadband Submarine Cable will make a big difference and give our expanding talent base confidence in the region and its opportunities.”

Under the next five-year Implementation Plan, a suite of 40 actions will be delivered from 2019 to 2023 to drive greater opportunities and prosperity for the Sunshine Coast and its residents.

Read the REDS Implementation Plan 2019-23 and summary documents at https://invest.sunshinecoast.qld.gov.au/Economic-Strategy/REDS-Implementation-Plan-2019

Next five-year plan for regional economic development unveiled (5)


 
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