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Economic Development Strategy 2021-2026

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Economic Development Strategy 2021-2026 Economic Development Strategy 2021-2026 FOR THE SHIRE OF BROOME PREPARED BY PREPARED FOR RPS Shire of Broome Mark Wallace PO Box 44 Director - Strategy and Investment Broome WA 6725 (Economics) Level 2/27-31 Troode St, T (08) 9191 3456 West Perth WA 6005 E [email protected] W www.broome.wa.gov.au T (08) 9211 1111 E [email protected] This report was prepared by RPS within the terms of RPS’ engagement with its client and in direct response to a scope of services. This report is supplied for the sole and specific purpose for use by RPS’ client. The report does not account for any changes relating the subject matter of the report, or any legislative or regulatory changes that have occurred since the report was produced and that may affect the report. RPS does not accept any responsibility or liability for loss whatsoever to any third party caused by, related to or arising out of any use or reliance on the report. Economic Development Strategy 2021-2026 for the Shire of Broome 1 CONTENTS FIGURES TABLES FOREWORD X Trade and the Economy .............................x 1. Role of Local Government in 1. Shire of Broome Council Economic Economic Development ........................x Expenditure and Activity ......................x President’s Foreword ..................................x Impacts of COVID19 on the Broome Economy ......................................................x 2. Broome Growth Plan Target Scenarios .x 2. Number and Share of Local Chief Executive Officer Foreword...............x 3. Broome Economic Development Employing Businesses, Broome, BROOME’S COMPETITIVE ADVANTAGES Special Thanks .............................................x Strategy 2021-2026 Structure ...............x Kimberley and WA ...............................x AND CHALLENGES X EXECUTIVE SUMMARY X 4. Headline Economic Indicators – 3. Industries with Gross Value Added Assessing Local Competitiveness ................x Broome (S) ............................................x >$50m, Broome (S), 2019 .....................x AN ECONOMIC DEVELOPMENT Advantages and Challenges of the 5. Broome Context Map ...........................x 4. Broome Competitiveness Assessment ....x STRATEGY FOR BROOME X Broome Economy ........................................x 6. Share of Population by Age, Broome 5. Major Economic Assets, Shire of What is Economic Development? ..............x Economic Assets & Drivers ..........................x (S) and Western Australia, 2018 ..........x Broome ..................................................x Who is Responsible for Economic Economic Development Opportunities ......x 7. Unemployment Rate, Broome (S) Development? .............................................x and WA, 2015 to 2019 ........................x ECONOMIC DEVELOPMENT VISION What is the Role of Local Government? ....x 8. Jobs, Broome LGA, 2006 to 2016 .........x AND DESIRED OUTCOMES X Council as an Economic Driver and 9. Share of Jobs by Industry, Broome Foundation for Future Growth and Catalyst ........................................................x LGA and WA, 2016 ..............................x Prosperity ....................................................x Shire of Broome-Led Projects .....................x 10. Change in Jobs, Broome LGA, 2006-2016 x Economic Development Framework ..........x Building on the Broome Growth Plan ........x 11. Registered Businesses per 1,000 Residents, Vision for the Broome Economy ................x Broome (S) and WA, June 2019 .............x Alignment with Other Policies and Desired Outcomes .......................................x Strategies ....................................................x 12. Tourist/Visitors, by Type, Broome and Roebuck SA2s, 2010 to 2019 ........x Purpose and Structure of the Strategy ......x SHIRE OF BROOME’S ECONOMIC DEVELOPMENT PROGRAMS X 13. Top 5 Countries of Residence of BROOME’S ECONOMIC PROFILE X International Visitors, Broome (S) IMPLEMENTATION AND MONITORING X and Western Australia, 2019 ................x Headline Indicators .....................................x Council-Led Projects ....................................x 14. Gross Product per Person, Broome (S), Place ............................................................x Kimberley and Western Australia, 2019 ...x Partnering for Success.................................x People .........................................................x 15. Job Impacts during COVID19, Shire Monitoring Progress and Measuring of Broome, March to July 2020 ............x Employment and Business ..........................x Outcomes ....................................................x 16. Share of Job Impacts during COVID19, Visitors .........................................................x Main Industries, Shire of Broome, REFERENCES X March to July 2020 ...............................x 17. Phases of COVID19 Economic Impact ..x 18. Porter’s Diamond Model of Regional Competitiveness .....................x 19. Advantages and Challenges for the Broome Economy ...........................x 20. Economic Development Framework ....x Economic Development Strategy 2021-2026 for the Shire of Broome 2 FOREWORD President’s Foreword - to be supplied Economic Development Strategy 2021-2026 for the Shire of Broome 3 Chief Executive Officer Foreword - to be supplied Special Thanks The Shire of Broome would like the thank the following organisations for their input and support in the development of this Strategy: • Kimberley Development Commission • West Kimberley Alliance • Development WA • Regional Development Australia • Nyamba Buru Yawuru • Australia’s North West Tourism Kimberley • Kimberley Ports Authority • Broome Visitor Centre • Broome Chamber of Commerce and • Broome International Airport Industry Economic Development Strategy 2021-2026 for the Shire of Broome 4 EXECUTIVE SUMMARY The Shire of Broome is committed to The region has a large share of small There is significant longer-term private Based on an assessment of the promoting, encouraging and facilitating the businesses, though lacks medium sized investment planned in Broome for competitiveness of the Broome sustainable development of the Broome businesses which represents a significant transformational infrastructure development economy, the following vision economy for the benefit of all residents. constraint for Broome to tackle local (i.e. $110 million for the Kimberley Marine statement is proposed for the This Economic Development Strategy 2021- unemployment and generate meaningful Offloading Facility). This Strategy also Economic Development Strategy: 2026, builds upon the success of the Broome employment opportunities for all residents. highlights that in the immediate-term, funds Growth Plan as well as the region’s 3 Year have been committed for locally-led activity Major economic assets in (or near) the Shire COVID-19 Recovery Plan. that will have regional contracting capability include: and community benefits. Broome - Broome is located in the south-west Kimberley • Cable Beach in the far north of Western Australia. It covers The Shire of Broome has identified a series of • Broome International Airport approximately 56,000 square kilometres and Desired Outcomes for economic development Port of Broome economically boasts a coastline of 900 kilometres. The Shire • activity in Broome. These include More is located 2,240km by road to the northeast • Dampier Peninsula People; More Investment; More Businesses; of Perth (capital city of Western Australia) • Chinatown Broome and More Economic Diversity. diverse, for and is closer to Darwin (1,872km northeast) • University of Notre Dame – Broome Campus Realising the Vision for the Broome economy and Bali, Indonesia (1,319km). The Shire is North Regional TAFE – Broome • and the associated Desired Outcomes will located in the same timezone as East Asia everyone. • Great Northern Highway require a series of actions and initiatives by with 1.5 billion people. • Browse Basin the Shire, delivered in partnership with other The Shire of Broome was home to 16,907 • Thunderbird Mineral Sands economic development stakeholders. people in 2019 and current WA Government Ex-Waterbank Station • The Economic Development Framework in projections indicate the population will reach • La Grange and Skuthorpe Agriculture Areas this Strategy includes the identification and 18,591 by 2031. This is in line with recent • Asian Renewable Energy Hub establishment of core Economic Development historical growth rates, though is slower than Roebuck Plains Station Programs for the Shire. The four key the Broome Growth Plan’s modelled population • Kimberley Meat Company Economic Development Programs include: scenarios. Approximately 1/3 of Broome’s • population are Aboriginal people – with higher Broome is evolving to become a dynamic, • Business and Industry Support shares living outside of the town itself. investment friendly location with its proactive • Skills Development and Training leadership group focused on transforming Investment Attraction, Branding & Liveability Major employing industries in the Shire • the regional centre into a modern vibrant Connectivity, Transport and Access of Broome include Health Care and Social • place to live whilst nurturing our natural Assistance, Education and Training, and This Strategy is a flexible document designed environmental and cultural assets. It seeks Accommodation and Food Services (linked to to provide a framework for Council’s to leverage the long-term trend of people Broome’s role as a domestic and international economic
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