Somerset Economic Development Plan 2015 to 2020 Contents

Somerset – Focus on Growth ...... 1 Regional Challenges and Opportunities ...... 2 Themes for Economic Development ...... 8 Business Growth ...... 9 Tourism ...... 11 Capability Building ...... 13 Infrastructure...... 15 Making it Happen...... 17 P a g e | 1

Somerset – Focus on Growth

The (Somerset) combines a high quality regional lifestyle with opportunities created by the region’s close proximity to the growing urban, tourism and industry corridor between and Gympie. Somerset delivers:  Real Country - a natural landscape and a quality environment for leisure and living. Somerset contains the water catchments for South East and valuable agricultural land.  Real Adventure - a tourist and outdoor recreation zone that offers relaxing activities through to adventure sports.  Really Close to Brisbane - opportunities for business growth (agriculture through to knowledge industries) in close proximity to the State’s largest market, . This Economic Development Plan identifies opportunities for the region’s growth over the next 5 years and is guided by this vision:  Creating a contemporary business and lifestyle zone that: o Supports the growth of towns, villages and traditional industries. o Attracts new low impact and knowledge businesses. o Encourages a new generation of entrepreneurs.  Positioning Somerset as a leading lifestyle, recreation and leisure destination for South East Queenslanders.

P a g e | 2

Regional Challenges and Opportunities

In a complex and changing economic environment, Somerset must focus on its strengths and be ready to meet the challenges ahead from changes and disruptions in the wider regional and national economies. A review of Somerset’s demographic, economic and employment trends helps to set the scene for the Economic Development Plan. Somerset Region The Somerset region covers approximately 5,382 sq km and includes , and substantial high quality agricultural land. The main centres in the Somerset local government area are:  Esk.  Fernvale.  Lowood.  .  Kilcoy. Population At the 2011 census, Somerset was home to 22,200 people – representing 8.3% of the population in the Ipswich and region. Somerset’s population is forecast to grow to 32,500 by 2036 – an increase of 46% over the 25 year period. However, Somerset will represent a smaller share of the regional population (4.6%) in 2036 due to the strong population growth in the wider Ipswich and West Moreton region. This regional growth will create opportunities for Somerset:  Tourism opportunities based on a larger market for day trip and short trip stays.  Expanded opportunities for Somerset businesses to serve a growing regional market.

P a g e | 3

The average annual population growth This demographic challenge is illustrated rate for Somerset for the 25 year period by the region’s dependency ratio – the 2011 to 2036 is 1.5% - lower than the rate proportion of people who are in of growth forecast for the Ipswich and dependent age groups (under 15 and 65 West Moreton region (3.9%) and slightly and over) compared with the number of lower than the rate for South East working age people (aged 15 to 64). Queensland (1.8%). The dependency ratio for the South East Towns and villages in Somerset region are Queensland region as a whole was about long established. There has been higher 47% at the 2011 census, while the growth in the Fernvale and Lowood areas dependency ratio for Somerset was 57.7% and in Kilcoy as more people move to the at that time. region for quality of life but still commute The Somerset dependency ratio will to jobs outside Somerset. increase significantly in the future based While this population growth has been on an ageing population to a forecast positive, Somerset faces some challenges 84.6% in 2036 compared to 59.8% in in terms of its current demographic South East Queensland. This means fewer profile. people in the Somerset workforce and a The average age in Somerset region is larger number not in the workforce. increasing (estimated to be 41.8 years in If not countered, this trend could have a 2013) while in the Ipswich and West negative impact on Somerset’s economy Moreton area, the average age is and the ability to provide services to a decreasing (estimated to be 34.7 years in larger ‘dependent’ group living in 2013). Somerset Along with Scenic Rim (42.5 years), Attracting young families and providing Somerset has the highest average age in the jobs and opportunities for these the Ipswich and West Moreton region. families locally can help to mitigate the This highlights the need to attract young effects of Somerset’s ageing population. . families to the Somerset.

P a g e | 4

Industry and Employment This represents an increase in jobs in the region of 4,200 over a 30 year period (140 The mix of industry sectors in Somerset’s new jobs per year). economy will also change in the future. In 2011, the top employment industries in Forecasts prepared by the National Somerset were: Institute of Economic and Industry Research for the Council of Mayors (SEQ)  Manufacturing (including food show Somerset’s gross regional product processing) (accounting for 16.8% of was estimated to be $549.4 million in employment). 2011, rising to $814 million in 2041.  Agriculture, forestry and fishing While manufacturing, agriculture and (15.1%). construction will remain strong  Retail trade (11.3%). contributors to Somerset’s economy in This mix will change slightly in the future the future, there will be strong growth in with the top employment industries in transport, retail trade and education and Somerset in 2041 forecast to be: training sectors (see chart below).  Manufacturing (accounting for 18.4% Within Somerset’s population of 22,000 at of employment). the 2011 Census, there were estimated to be 9,365 people in employment, but only  Agriculture, forestry and fishing 6,838 of these (73%) worked in the region. (13.1%). NIEIR’s forecast of growth to 2041  Education (12.0%). estimates that the percentage of residents working in the region will rise to 81% by 2041.

P a g e | 5

NIEIR also provided a second scenario  Accommodation and food services where population growth is moderated to (0.64) (an indicator for tourism). match the current employment  Information, media and generating capacity of the Somerset telecommunications (0.27). region. In this second scenario, there will be nearly 3,000 less people working in the Using standard population projection region and about 3,000 fewer jobs in the growth trends, these relativities do not region. significantly change over the next 30 years. Under this scenario, education (14.0%), health care and social assistance (12.7%) This means that without action to attract and agriculture, forestry and fishing (9.6%) new investment in knowledge sectors, will be the top employing industries. This Somerset will lag behind in industries that reflects a greater focus on service sectors. drive the new digital economies that are creating wealth and employment globally. The Economic Development Plan is focused on job creation – strengthening The Economic Development Plan aims to the economy, creating local jobs in the boost Somerset’s share of: region and retaining strong agriculture,  Professionals and those in technical manufacturing and construction sectors in occupations living in the region – the economy. particularly information technology An industry specialisation ratio compares and knowledge industries. the industry sector employment  Tourism. proportion in Somerset with the industry sector employment proportion for South  Value adding of agricultural East Queensland. This ratio shows that production (manufacturing). Somerset has a comparative advantage in Somerset also needs to maintain its level these industry sectors: of services and capabilities in health,  Agriculture, forestry and fishing – education, retail and other services 16.89 specialisation ratio needed for a vibrant community. (employment in Somerset in this While the region is close to the South East sector is 16.89 times the percentage of Queensland share of employment for arts agriculture employment in South East and recreation services (0.80), there are Queensland) at 2011. also opportunities to grow this important  Manufacturing – 1.88. sector of the economy.  Electricity, gas, water and waste Transport services – 1.44. The Somerset region is a corridor that  Construction – 1.06. links regional Queensland to the larger market centres of Brisbane, Ipswich and  Education and training – 1.19. the Sunshine Coast. Of significance for Somerset is the lower The D'Aguilar Highway and the Brisbane ratio for these important industry sectors: Valley Highway are vital highways that  Professional and insurance services support the daily movement of residents (0.13). and visitors and facilitate the  Professional, scientific and technical transportation of livestock and services (0.26).

P a g e | 6 agricultural produce, from the region and Environment areas west and north of Somerset. The pristine environment in the region is Maintaining these highways not only an asset that will be preserved – the supports economic activity within the region contains the water catchment for Somerset, but is an important resource to South East Queensland. This means that support competitive transportation of the region will continue to retain the goods into and out of South East scenic environment and its smaller scale Queensland. urban development. Road networks in Somerset need to This environmental asset is important for support competitive transport costs for preserving the region’s heritage, offering primary producers and Council has been a quality lifestyle and will attract working to replace old wooden bridges increasing numbers of tourists in the unable to support modern truck weights. future. Somerset Regional Council has been proactive in attracting external funding Other Infrastructure and has invested millions to upgrade Infrastructure including sporting facilities, roads and bridges. visitor and community meeting venues, Public transport is also an area for health and education facilities support improvement – providing better both community and economic growth. connecting services to major centres and Council has proactively invested in within Somerset. infrastructure in the region and has a Tourism successful track record in attracting grant funding. As Somerset continues to attract Tourism is a growth sector for Somerset. A new residents, many from urban areas, Destination Management Plan has been there will be continuing demand to invest prepared and modern visitor information in infrastructure. centres established to support tourism marketing. Somerset’s strategy of proactive investment and strong advocacy for Somerset is also investing in facilities and infrastructure will support future growth. services for the day trip and drive market as well as the RV market. NBN infrastructure, internet access and good telecommunications are essential The current industry is made up of small for community and economic businesses but there is potential to attract development. major new investment in tourist accommodation given the proximity to Brisbane and the SEQ urban growth zone.

P a g e | 7

Summary To capitalise on opportunities as a lifestyle Opportunities region, Somerset needs to retain its scenic  Retaining the pristine environment environment, its quality towns and that supports Somerset’s country villages and maintain the ‘country lifestyle and tourism opportunities. lifestyle’ that is ‘really close to Brisbane’.  Tourism growth to gain a greater The challenges and opportunities for share of the growing South East Somerset in the future set the framework Queensland tourism market. for the Economic Development Plan.  Retaining existing businesses and Challenges encourage their growth.  Jobs growth to support population  Attracting new investment to growth and allow more Somerset strengthen core industry sectors and residents to work where they live. diversify the Somerset’s economy.  Boosting high value and knowledge  Increasing participation in knowledge sectors of the economy. based sectors to boost economic growth.  Needing to attract younger age groups to ‘rebalance’ the demographic  The ability to offer a quality country profile. lifestyle combined with business opportunities and local employment.  The lack of digital connectivity in Somerset to support population and business growth.  The need for infrastructure investment for vital highways and services to support community growth.

P a g e | 8

Themes for Economic Development

Four economic development themes and nine projects will help Somerset meet future growth challenges and capitalise on opportunities. These four themes and nine projects will drive sustainable growth and strengthen Somerset’s economy Business Growth Regional Capability

Retaining existing businesses and attract Building new businesses and employment to the Supporting growth in local businesses and region: industries: 1. Promoting Somerset as a high quality 6. Retaining local businesses and working destination for business owners and their with industry sectors to support their employees. growth. 2. Establishing a digital hub at Esk and work 7. Supporting growth in towns and villages with Ipswich City Council on the to create employment and economic Intelligent Region initiative to support opportunities throughout the region. growth in knowledge based industries and 8. Buying local and spending local initiative enhance the digital skills of businesses to support the local economy and supply and residents. chains. 3. Supporting innovation and new business investment. Infrastructure Tourism Secure investment in infrastructure to Building capability and capacity in the support economic and tourism growth: region’s tourism industry: 9. Advocating for investment in infrastructure that supports industry and 4. Implementing the destination community development – transport, management plan for the region and telecommunications and internet access, engaging an expert ‘tourism mentor’ to sport, recreation and tourism, water assist the tourism and business security, health, education and community to fast track implementation. community services. 5. Establish an international standard bass fishing tournament on . The following pages outline the short term (next 1 to 2 years) and long term (next 5 years) actions for each of the nine projects. Detailed implementation plans for each of the nine projects are contained in a separate report.

P a g e | 9

Business Growth investment including a proposed food processing precinct at Coominya. Business growth will drive economic and  Agritourism ventures. employment growth in Somerset.  The Kilcoy horse racing training centre As a major agricultural production region, and equestrian event venue. there are opportunities to expand this  Attracting events, sporting and sector and add value to agricultural and recreational activities to the region. food production.  Encouraging entrepreneurs and start- Supporting growth in existing businesses ups in the region. and attracting new investment will create diversity in the economy and new local  Attracting businesses whose owners employment opportunities for a growing and staff enjoy the Somerset lifestyle, population in Somerset. and benefit from the proximity to the growing SEQ market. New Investment A new Investment Prospectus will be an Typical patterns of regional growth show essential tool to support discussions with that local businesses can account for 80% local and new investors. of the new investment in a region. Understanding the priorities of these Innovation existing businesses and creating an Encouraging entrepreneurs, knowledge environment that welcomes their businesses and innovation will help continued investment is an important Somerset participate in a growing digital focus for Somerset. economy. Attracting new investment – whether it is An ‘Intelligent Region’ initiative by Ipswich from existing businesses or from investors City in conjunction with Somerset, Scenic new to the region – is a critical input to Rim and can develop digital growing local employment opportunities. hubs, encourage startup ventures and Opportunities to attract new investment build the digital skills of the region. include: Growth in knowledge businesses and  Tourist accommodation ranging from support for innovation and basic through to high end entrepreneurship will foster growth in the accommodation with potential for a next generation of Somerset businesses. conference centre. As the knowledge economy grows as a  Tourist attractions and activities. component of the global economy, Somerset region needs to be ready to play  Agriculture and food or produce value a proactive role in this growth economy. adding. The region is already a base for high quality food processing operations and there are opportunities to attract additional

P a g e | 10

Business Growth Projects The following table outlines the short term actions (next 1 to 2 years) and long term actions (next 5 years) for the three Business Growth projects in the Plan. 1. Promoting Somerset as a high quality destination for business owners and their employees. Short Term - 2016 and 2017 Longer Term - next 5 years to 2021  Preparation of a new investment attraction  Providing a proactive pathway for new prospectus. investment – ensuring that Somerset is ‘open  Attracting investment that proactively seeks out for business’ and is a competitive investment opportunities for major new investments in destination. tourism facilities and low impact industry.  Attracting investment in these target sectors:  Marketing the Somerset lifestyle to small and • Food value adding. medium size firms to encourage relocation to • Transport services hub or support activities Somerset. e.g. truck stops, rest areas.  Including investment attraction promotion as • Low impact manufacturing, construction part of all major events in Somerset and and related supply chain businesses. encourage businesses to promote the message, • Information technology businesses. and advocate for Somerset among their own • Professional services and technology based business networks. businesses. • Aged care and retirement living. • Entrepreneurs able to make lifestyle decisions on business relocation. • Business incubator – innovation, entrepreneurs, knowledge businesses. 2. Establishing a digital hub at Esk and work with Ipswich City Council on the Intelligent Region initiative to support growth in knowledge based industries and enhance the digital skills of businesses and residents. Short Term - 2016 and 2017 Longer Term - next 5 years to 2021  Working with Ipswich City Council to identify  Working with providers of digital economy skills how Somerset can participate in the Intelligent (government agencies and private sector) to Region initiative. This includes establishing a build the digital skills of residents, and of digital hub and support for knowledge business businesses (including digital marketing and growth. greater participation in the digital economy).

3. Supporting innovation and encouraging new business investment. Short Term - 2016 and 2017 Longer Term - next 5 years to 2021  Welcoming start-ups and entrepreneurs in  Collaborating on regional initiatives that sectors including knowledge based and IT support innovation and entrepreneurship businesses and professional services. (Federal and State Government, SEQ and  Marketing the region as a lifestyle haven for Ipswich and West Moreton regions). digital start-ups and technology based

businesses.

P a g e | 11

Tourism Building Tourism Capabilities The Somerset region has a dynamic range Somerset region’s proximity to Brisbane, of committed small businesses who Ipswich City, , Caboolture provide a great tourism experience. and the Sunshine and Gold Coasts creates opportunities to attract day trip visitors, Helping to build the skills of these weekend visitors and the RV and sports businesses and engaging directly with markets to Somerset. higher value investors can strengthen the tourism competitiveness of the region and The diversity of terrain, the high quality attract major new investment to the environment and the range of adventure region. sports through to events and activities in the region is extremely diverse. Building tourism capabilities includes: Destination Management Plan  Service excellence.  Effective marketing including digital The Somerset region has recently marketing. developed a Destination Management Plan. Implementing this Plan will be a  Business skills to support profitable catalyst for tourism growth. operation and long term sustainability. Initiatives in the Plan that will help to Tourism Mentor support tourism growth include: To support capability building and the  Building on the unique tourism implementation of the Destination heritage of the region including Yowie Management Plan, engaging an expert tourism and Yowie experiences. tourism mentor is recommended. Local  Using the visitor centres and businesses and the community can gain a interested community members to great deal from this mentor and ensure support a greeters program. that their efforts are targeted to deliver the best possible outcomes.  Marketing the region as a safe ‘try out destination’ for people with new four Major Bass Fishing Event wheel drives, RVs, caravan and Lake Wivenhoe can provide an ideal camping set ups. venue for an international standard bass  Developing events and festivals that fishing tournament – creating a major encourage visitors to come to the new fishing event for Queensland. region. Establishing an international standard bass fishing tournament will boost awareness of Somerset and increase domestic and international visitor numbers. New Investment Somerset has the potential to attract significant new tourism investment based on the quality of the environment and the proximity to Brisbane, Ipswich and urban growth north to the Sunshine Coast.

P a g e | 12

Tourism activities can also support a wider for these business owners to encourage investment attraction agenda – as well as them to make a lifestyle choice and individuals who visit the region, business relocate to Somerset can support growth owners also visit Somerset region. Having in the broader economy. a program and dedicated communication Tourism Project The following table outlines the short term actions (next 1 to 2 years) and long term actions (next 5 years) for Tourism. 4. Implementing the Destination Management Plan for the region and engaging an expert ‘tourism mentor’ to assist the tourism and business community to fast track implementation. Short Term - 2016 and 2017 Longer Term - next 5 years to 2021  Engaging an expert tourism consultant as a  Attracting new events to Somerset. mentor to work with Somerset businesses and  Promoting Yowie tourism in Somerset and raise Council on the implementation of a drive the profile of Yowies and ‘Yowie experiences’. market promotion strategy and the destination  Continuing to invest in signage, amenities and management plan. interpretive material to enhance the visitor  Expanding tourism information, promotion experience in Somerset. (including online) and signage.  Continuing to invest in RV facilities (parking,  Delivering a ‘Somerset Exceptional Service’ park amenity, RV facilities and recreation areas) program – aimed at developing a consistently to create high quality experiences for visitors in high level of service provided by visitor RVs and caravans. amenities, shops, hotels, restaurants and pubs  Assessing the feasibility of a new horse racing & clubs. training centre at Kilcoy.  Marketing the Somerset region as a safe and  Expanding sporting and outdoor recreation convenient ‘tryout’ destination for people with opportunities – fishing and boating, non- new caravans, RVs and 4WD vehicles. motorised (bike and mountain bike) and  Developing an events program (including major motorsports activities, walking trails. events) and events calendar that attracts  Developing a tourism investment prospectus visitors and profiles the region. and attracting new investment in tourism accommodation, activities and facilities.

5. Establish an international standard bass fishing tournament on Lake Wivenhoe. Short Term - 2016 and 2017 Longer Term - next 5 years to 2021  Work with recreational fishing peak bodies,  Work with SEQ and fishing groups to establish Australian and international bass fishing groups an international standard bass fishing to prepare a business case for an international tournament in Somerset that links to and standard bass fishing event at Lake Wivenhoe. complements the international bass fishing calendar.

P a g e | 13

Capability Building retention and growth will strengthen the economy. Businesses in the Somerset region are not Strong Towns and Villages alone in facing a range of challenges from changing economic conditions through The Somerset economy is driven by digital, market and technology disruption. villages and towns that create opportunities for local businesses and Online information and sales are support major employers in the region. impacting on the traditional retail model and business models are changing across Individual centre plans that maintain local a range of industries as new technologies towns and villages and support new are adopted. investment are included in the Somerset Regional Planning Scheme. To keep pace with this change, a focus on building business capabilities and business While there will naturally be growth in collaboration can help to strengthen home based businesses, encouraging new Somerset’s economy and provide access businesses to operate in town and village to new approaches that will benefit local centres helps to sustain those vital businesses. centres. Strong Local Networks Buy and Spend Local A major strength in Somerset is the While businesses and individuals will presence of strong industry groups – spend outside the region to some extent, Kilcoy Chamber of Commerce and a strategy that encourages local people Somerset Region Business Alliance. These and businesses to buy locally will support two groups provide leadership and are a town and village economies, create and contact point for the business community. retain local employment, and strengthen local supply chains in Somerset. Industry and business groups can collaborate on projects and be a touch As part of this ‘buy and spend local’ point for strengthening the economy and initiative, helping Somerset businesses to encouraging innovation. build their online sales capabilities will improve local access to a wider range of Tapping into existing capability building goods and services. programs can help the Somerset business community keep up with the unprecedented changes in the wider economy. Business Retention Somerset is the base for leading companies and producers who compete in national and global markets. Somerset is also home to a growing business community who invest in their businesses and local employment. A program that works with existing businesses to understand their needs and support their

P a g e | 14

Capability Building Projects The following table outlines the short term actions (next 1 to 2 years) and long term actions (next 5 years) for the three Capability Building projects in the Plan. 6. Retaining local businesses and working with industry sectors to support their growth. Short Term - 2016 and 2017 Longer Term - next 5 years to 2021  Initiating a program of ongoing communication  Working with industry sectors to support with major businesses in Somerset to better growth and retention covering: understand their needs and support their • Agriculture, rural industries and supply retention and growth in Somerset. chains e.g. possible saleyards, support for  Working with the industry bodies (Somerset value adding industries. Region Business Alliance Inc., Kilcoy Chamber of • Transport services. Commerce and Community Inc., Somerset • Extractive industries. Regional Tourism Association Inc.) and • Professional services. professional advisers in Somerset to support • Retail and service businesses. retention and growth of businesses in the • Tourism, sport and recreation businesses. region.  Accessing business programs that strengthen the capabilities of Somerset businesses including online marketing, business management, product and service delivery. 7. Supporting growth in towns and villages to create employment and economic opportunities throughout the region. Short Term - 2016 and 2017 Longer Term - next 5 years to 2021  Encouraging new and home based businesses  Supporting the implementation of centre plans with a focus on growth in Somerset town and for Somerset towns and villages. villages are in village retail/business centres. Council’s planning scheme (Part 3 Section 3.6.2  Installing new entry signage for towns and to 3.6.7) villages. 8. Buying local and spending local initiative to support the local economy and supply chains. Short Term - 2016 and 2017 Longer Term - next 5 years to 2021  Developing and implementing a program that  Accessing programs that assist Somerset encourages the community and businesses to businesses to improve their capabilities to buy from local suppliers and spend in the local successfully bid on larger contracts. Somerset region.  Working with state and local government to identify opportunities for local businesses to increase their share of government contracts and spending.

P a g e | 15

Infrastructure Infrastructure priorities include:  Highway, road and bridge Infrastructure investment in Somerset will maintenance and upgrades. support economic development.  Better public transport linkages Key highways running through the region between Somerset and high growth – the D’Aguilar and Brisbane Valley urban centres nearby e.g. Ipswich. Highways – connect local towns and  A heavy vehicle bypass for Kilcoy. villages, but also act as a vital transport corridor for South East Queensland.  Land access and development for industrial and business growth in Support for transport infrastructure and Somerset – funding for trunk transport support facilities in Somerset is infrastructure will remove the barriers important, not only for the Somerset, but for initial investment. for South East Queensland’s future growth.  Telecommunications and internet or NBN infrastructure. Somerset Regional Council has proactively invested in road, bridge, community and  Water security for agriculture. tourism infrastructure.  Health, education and community Council has a strong track record of services to cater for a growing successfully securing grants – an community, and an ageing important skill for the region. community. Somerset needs to continue this successful approach and advocate for investment in infrastructure that addresses the needs of the economy and the community now and in the future.

P a g e | 16

Infrastructure Project The following table outlines the short term actions (next 1 to 2 years) and long term actions (next 5 years) for the Infrastructure project in the Plan. 9. Advocating for investment in infrastructure that supports industry and community development – transport, telecommunications and internet access, sport, recreation and tourism, water security, health, education and community services. Short Term - 2016 and 2017 Longer Term - next 5 years to 2021  Advocating for better public transport linkages Ongoing advocacy and dialogue with State and between Somerset and Ipswich City to improve Federal Governments, and other key stakeholders transport access. on:  Applying for funding for transport, recreation,  Transport infrastructure including funding to sporting and tourism infrastructure. ensure that key highways through Somerset  Seeking funding for trunk infrastructure to (D’Aguilar, ), and support land access and development for connection roads between towns and villages industrial and business growth. meet Somerset and SEQ needs. Includes  Exploring available options to provide improved advocacy to address black spots, fund access to Wi-Fi in town centres and tourist interchanges and ongoing highway and road information centres. development.  Public transport infrastructure and services.  Recreation, sport and tourism infrastructure to support tourism and population growth.  Telecommunications, NBN infrastructure, and internet access including Wi-Fi zones.  Heavy vehicle bypass for Kilcoy.  Water security for agriculture.  Health, education and community services to meet Somerset’s future needs.

P a g e | 17

Making it Happen

To be successful, the Economic Development Plans need the support of the business community and local government. This local team also needs the support of private and public sector stakeholders and investors. No one group has all the skills or resources to implement the plan - all stakeholders groups have a role to play in creating opportunities for the future. Here are some approaches and resources that will help Somerset implement this Plan and achieve growth.

Implementation Working economic development initiatives and on advocacy for infrastructure. Group

A Working Group made up of Council, Kilcoy Chamber of Commerce, Somerset Tracking Progress Region Business Alliance, Somerset Measures that can track the impact of the Regional Tourism Association and Economic Development Plan include: representatives from the business community to implement and guide the  The value of new investment projects Plan. and grant funding attracted by Somerset. In an environment where there are limited resources, having a Working  Securing at least one major new Group which meets on a regular basis to investment in the region over the next review progress and take forward new 5 years. initiatives will make the most of resources  An increase in the number of business available. managers and professionals coming to Implementation Plan the region and living in the region.  Employment growth. A detailed Implementation Plan for the nine projects has been provided as a  Population growth and retention. separate document.  Dependency ratio declines. Regional Collaboration  Achieving project specific KPIs. While the Economic Development Plan has a focus on Somerset, it is noted that Somerset is part of two larger regions - Ipswich and West Moreton Regional Development (RDA) region and South East Queensland. By working with RDA and other local government authorities (LGAs) – Ipswich City, Lockyer Valley and Scenic Rim Regional Councils - Somerset can collaborate on shared