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Shaping our Regional Economy: G21 Economic Development Initiatives A summary of activity presented to the G21 Board, 4 June 2010; Prepared and presented.

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Presentation on theme: "Shaping our Regional Economy: G21 Economic Development Initiatives A summary of activity presented to the G21 Board, 4 June 2010; Prepared and presented."— Presentation transcript:

1 Shaping our Regional Economy: G21 Economic Development Initiatives A summary of activity presented to the G21 Board, 4 June 2010; Prepared and presented by David Spear and Ed Coppe. 1.Strategic Directions; 2.Snapshot of the G21 Region Economy; 3.Strategic, Inclusive and Flexible Approach; 4.Major Initiatives for and Beyond; 5.Pillar Structure, Taskforces and Cluster Groups; and 6.Questions.

2 Labour, Land, Capital, and Technological Knowledge; Core elements of Economic Productivity. The G21 Economic Development Pillar Group continues to take a lead role in the planning, co-ordination and implementation of initiatives that are responsive to the G21 Region Plan – a sustainable growth strategy, Direction 4 – Refocus Our Economy. These directions include: 4.1 Respond to global competition; 4.2 Improve industry efficiency, innovation and commercialization; 4.3 Reduce skills gaps and shortages; and 4.4 Improve the operating environment for business.

3 Snapshot of the G21 Region Economy The G21 Region Economy is in transition. As firms respond to new and emerging forces the economy is experiencing a redistribution of labour, land, capital and technological assets. In broad terms, high level economic data supports this view: While economic activity (Output) and the value of final goods and services (GRP) have experienced strong growth in recent years, this seems to have been driven by a lift in Value Adding activities, rather than additional employment. This is good news. While increasing jobs is an important priority, the region’s traditional industry base can not sustain employment if it continues to compete on price alone.

4 Snapshot of the G21 Region Economy Source: REMPLAN Data 2010

5 Snapshot of the G21 Region Economy Source: REMPLAN Data 2010

6 Strategic, Inclusive and Flexible The Economic Development Pillar recognises the importance of taking a broad view of the challenges and opportunities that arise on the path to delivering its strategic objectives; In this respect, the Economic Development Pillar seeks to be opportunistic and strategic, acknowledging they are not mutually exclusive. This methodology seeks to ensure a more durable economic outcome is achieved by tackling unanticipated challenges and tapping new opportunities as they arise, whilst remaining focused on the overall objectives of Direction 4 – Refocus our economy. Strategic Objective Starting Point Opportunity Challenge

7 Major Initiatives for and Beyond

8 The Economic Development Pillar has a vital interest in the success of the following projects led by other pillar groups: Career Development & Skills Service; Apollo Bay Harbour Precinct; Arts Precinct; Labour Market / Workforce Development Strategy; Armstrong Creek Urban Growth Area; Strategic Regional Land Use Plan, Skilled Stadium Development Plan; Princes Hwy West Upgrades; Geelong Ring Road Connections; and Transport links to Melbourne Projects. The Economic Development Pillar is aware of these projects and assists and advocates where necessary. Vital Interests

9 G21 Water TaskforceIndustry Clusters G21 Agribusiness Forum G21 Low Carbon Economy Taskforce Bio Geelong Engineering Cluster Innovation Cluster ICT Cluster G21 Board G21 Economic Development Pillar G21 Regional Marketing Alliance G21 Board Member, Golden Plains Shire, City of Greater Geelong, Colac Otway Shire, Surf Coast Shire, Regional Development Victoria, Department of Primary Industries, Innovative Regions Centre, Committee for Geelong, Geelong Manufacturing Council, Geelong Otway Tourism, Deakin University, CDSS Taskforce, Smart Geelong Region Local Learning and Employment Network. G21 LGAs, DSE Office for Water, Barwon Water, CH Water, SR Water, CCMA, EPA, DPI, RDV G21 LGAs, IRC, RDV, DPI, GMC, CfG, EPA, SGR LLEN, Deakin Uni, Gordon TAFE, BRWMG. G21 LGAs, RDV, CfG, GOT, TAC, GCC Barwon Helath, Target, Shell, Gordon TAFE, Deakin Uni. Pillar Structure, Taskforces and Cluster Groups

10 Questions?


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