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Regional Economic Development Strategy Vision 2018 - 2022

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Regional Economic Development Strategy Vision 2018 - 2022 Queanbeyan-Palerang Regional Economic Development Strategy Vision 2018 - 2022 A place offering an ideal lifestyle and home to a diverse, smart economy, driven by the initiative and innovation of its people. Preface The NSW Government has assisted local councils Importantly, the Strategy should be viewed as the first For further information about the Regional Economic and their communities to develop 37 Regional stage of a process that will assist those with an interest Development Strategies Program please contact CERD Economic Development Strategies across regional in the economic development of the Region, on (02) 6391 3025 or [email protected] NSW. Each strategy is designed around one or particularly councils, communities and local more local government areas that form a functional businesses, in planning their future economic activities. economic region as defined by economic data and It provides a vehicle for engaging the community in a community input. ‘conversation’ about regional needs and priorities, assists in bringing together key stakeholders and While the strategies have been developed using mobilising resources, and in so doing, can facilitate consistent methodology, each is a product of faster access to dedicated NSW Government funding, detailed data analysis and local community such as the Growing Local Economies Fund, as well consultation to ensure ownership through a ‘bottom- helping to capitalise upon other economic up’ process: it sets out a vision for the region, the opportunities. strategies, and early stage actions required to achieve the vision. This Strategy, prepared by Corview, on behalf of Queanbeyan-Palerang Regional Council, key Regional Economic Development Strategies stakeholders and the broader regional community, articulate a framework for identifying actions crucial benefited from economic-analytical assistance from to achieving the regional vision. Projects listed the NSW Government’s Centre for Economic and within this Strategy should therefore be viewed as Regional Development (CERD). example projects that have emerged from the initial application of the framework. Adoption of these The Strategy is presented in two documents, the projects would be subject to further evaluative Queanbeyan-Palerang Regional Economic processes. Development Strategy 2018 - 2022 (this document) which allows the reader to quickly and easily The power of the Strategy is its ability to be used on determine key content, while the accompanying an ongoing basis to identify additional high value Queanbeyan-Palerang Regional Economic projects over time. By complementing existing Development Strategy 2018 - 2022 - Supporting funding processes, these strategies present new Analysis details the Strategy methodology, evidence opportunities to strengthen and increase investment and the strategy development process. in regional development across NSW. 2 Introduction The Queanbeyan-Palerang Regional Economic • endowments - key features of the natural These strengths suggest some key strategic Development Strategy 2018 - 2022 (the Strategy) environment, built environment, geography and imperatives: establishes a long-term economic vision for society specific to the region or location 1. improve the digital connectivity and access to Queanbeyan-Palerang (the Region). • stakeholder consultation – ‘on the ground’ harness the innovative capacity of the workforce Queanbeyan-Palerang is located in south-east of feedback on local economic conditions and 2. re-establish the town centres as ‘Places for People’ NSW, adjoining Canberra and the Australian Capital forward-looking assessments of opportunities, issues, gaps and risks and initiatives to help shape Territory (ACT). Queanbeyan, Bungendore and 3. grow the population and internal markets of the the future. Braidwood are the Region’s major centres, served Region by the Queanbeyan-Palerang Regional Council The Strategy also takes account of regional risks and since 2016. how they might be addressed. 4. further develop specialised agriculture and food and cultural tourism. While the objective of this Strategy is similar to Queanbeyan-Palerang’s key endowments lie in its This Strategy began with its guiding vision for the previous local strategies – to support economic integration with the ACT economy; highly–skilled, Region’s future. development for social advancement across the highly educated population; access to Canberra’s community – it takes a new approach to economic influential national institutions; and appealing balance Next we establish the composition and defining planning. of lifestyle and employment opportunities to attract economic characteristics and strengths of the Region new residents. today. Fundamental to this approach are the distinctive and These endowments are the basis of the Region’s unique strengths of the Region. Economic principles Finally, the strategic imperatives suggested by the specialisations, which include: suggest unique strengths provide regions with analysis and stakeholder feedback are established, sustainable economic advantages, and so they • ‘Engines of Growth’ like cattle production, niche supported by detailed strategies and actions. should be points of focus for regional development agriculture, advanced and specialised This Strategy is the culmination of collaboration policy. manufacturing and tourism between the Queanbeyan-Palerang Regional Council, their respective community and the NSW Government’s Queanbeyan-Palerang’s unique strengths were • Enabling Industries like computer system design CERD. determined through review of: and scientific research • Population Serving Industries like construction, Strategy implementation will be overseen by the CEO • the Region today – considering the Region as a public administration, defence and health care. of Queanbeyan-Palerang Regional Council, drawing on whole and the localities within it for their staff and broader stakeholders as appropriate. particular demographics, infrastructure, These attributes position Queanbeyan-Palerang to institutions and economic opportunities complement, increase integration with, and take advantage of, the strength and attractiveness of the • specialisations – activities in which the Region ACT economy. has a demonstrable advantage 3 Background The Queanbeyan-Palerang Region reflects the 3. the predominance of public service jobs and boundaries of its namesake council. Queanbeyan- relatively high levels of education among its Palerang has a population of about 56,000 and a workforce total land area of 5,319km2. 4. very high weekly incomes compared to regional Queanbeyan is the Region’s administrative centre, NSW with Bungendore and Braidwood its other major 5. relatively low levels of Retail Trade in the Region, centres of activity. The three centres are connected as much demand from residents is met in the ACT, by the Kings Highway. Queanbeyan CBD is only as in Woden and Belconnen 10km from Canberra International Airport. Queanbeyan acts as a regional centre for state 6. the extensive range of cultural, educational, government service delivery. scientific and social institutions that can offer advice and partnerships far more readily than While Queanbeyan-Palerang is the largest regional available to most other NSW Regions. centre in south-east NSW, its key reference point is as an immediate neighbour of the ACT and These considerations have shaped the profile of Australia’s capital city, Canberra. Canberra is Queanbeyan-Palerang’s economy over many Australia’s administrative capital, and home to more decades, and will continue to do so. than 416,000 people. For example, housing construction plays a key role in Much of the activity in the Region today reflects the the Region’s economic activity, reflecting the Region’s complementary relationships and considerable role as a service provider to the ACT. As a result, integration of Queanbeyan-Palerang and the ACT. population growth has been relatively rapid, at just a percentage point below Sydney’s rate and two points The Region’s integration with Canberra has a much above that for NSW since 2006. wider range of implications for its economic and social prospects. The NSW Department of Planning & Environment projects a high rate of growth for the Region to 2036, This can be seen in: with the population increasing by more than 50 per 1. the Region operating as a satellite or ‘dormitory cent to around 86,200 people. This projection implies suburb’ of Canberra substantial ongoing activity in the construction sector and ongoing expansion of the Region’s internal 2. two out of three Queanbeyan-Palerang workers markets. are employed in the ACT 4 Snapshot of the Economy, Industry and Opportunity Production & Income by Sector • among the Engines of Growth, the Region is more specialised in activities The figure on the next page is a key ‘roadmap’ to understanding economic such as advanced and specialised manufacturing opportunity in the Region. It reflects the income split between workers and • among Enabling Industries, the Region is more specialised in IT and businesses in each sector (blue and orange bars) and how much each industry professional services contributes to regional production (the stacked height of the bars). • among Population Serving Industries, the Region is more specialised in areas More than 40 per cent of Queanbeyan-Palerang’s economy is concentrated in including construction, defence and tertiary education. its top three industries: While the structure of the Region’s economy favours activities
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