3 minute read
Implementation, Leadership & Capital Investment
Implementation
The REDS identified five essential pathways to guide the development of a new economy. These pathways were established as enablers of economic change and to provide a framework to guide the decisions and actions undertaken by the Sunshine Coast Council and other key regional stakeholders.
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The five implementation pathways identified include:
• Leadership, Collaboration and Identity • Capital Investment • High-Value Industries • Local-to-Global Connections • Investment in Talent and Skills
Each of these pathways has between two and three main priorities to ensure the Council and stakeholders are focused on what needs to be done to achieve their shared vision for the future of the regional economy.
To advance each priority, a number of actions were established for the first five years of the strategy.
Leadership
Priority A. Strong economic leadership and collaboration bygovernment, business and industry
• Establish and support a regional economic leadership board to guide the transitions to, and build the identity of, the New Economy. • Identify and mentor potential business and community leaders. • Support business excellence through highlycompetitive awards and recognition programs. • Report annually to the community on the deliveryof the actions contained in the Strategy. • Incorporate the principles and priorities of theStrategy into the Sunshine Coast PlanningScheme.
Priority B. A recognised competitive regional identity
• Develop a new regional brand that embodies the vision for the New Economy. • Adopt a targeted program and approach to promoting the region’s and competitive advantages to potential investors and priority markets. • Establish a Sunshine Coast ambassadorial program – utilising local identities, business leaders and international students to promote the region.
Pathway - Key Outcomes
01. Establishment of the Sunshine Coast Economic Futures Board which reports annually on the implementation of the REDS.
02. Sunshine Coast Planning Scheme shaped by the Regional Economic Development Strategy.
03. Sunshine Coast Council was recognised with three awards at the Economic Development Australia National Excellence Awards across 2016 and 2017 and a finalist in four other awards.
04. Creation of Food and Agribusiness Network by industry which has grown into Australia’s largest food network/ cluster.
05. Working with SunCentral, supported the promotion of the Bernard Salt ‘The Activated City’ across various channels nationally.
06. Sunshine Coast Airport’s marketing campaigns and route development achievements won the Routes Asia 2017 Marketing Awards.
07. Sunshine Coast has been named a Smart21 community in four of the last five years in a field of more than 400 cities from around the world.
08. Invest Sunshine Coast established and promoted nationally and internationally.
09. Invest Sunshine Coast Ambassador Program established with key representatives for each of the high-value industries.
Capital Investment
Priority A. Securing investment in the region’s infrastructure priorities
• Identify alternative funding models for the expansion of the Sunshine Coast Airport and the development of the Maroochydore City Centre and address impediments to securing investment in these projects.
• Seek a firm financial and delivery commitment from the federal and state governments to the expansion of the Bruce Highway from Caboolture to the Sunshine Coast and future transport solutions.
• Develop a Regional Investment Prospectus for national and global markets to profile the infrastructure and commercial investment opportunities in the region.
• Identify alternative funding sources, both institutional and offshore, to stimulate capital investment in the region.
• Aggressively market the investment opportunities in the ‘game changer’ projects and secure investment partners.
Priority B. Maximising the value to the region of key economic infrastructure
• Establish Priority Investment Areas associated with game changer projects – each area offering development conditions directed primarily at facilitating appropriate commercial investment outcomes.
• Clarify and map the supply chains for each of the game changer projects and identify gaps and opportunities for local business supply and priorities for new investment.
• Establish and develop the research capability and reputation of the Sunshine Coast University Hospital, and profile this to targeted national and global markets.
• Work with telecommunications providers to deliver world-class broadband infrastructure and services, with a specific focus on ‘game changer’ project locations.
• In partnership with the Queensland Government, investigate a south-east Queensland airports strategy to better enable tourism and business connectivity to the region.
