Figure 1. EDS Objectives and Interventions
3. Collaborating – Successful economic development strategies are achieved through a collaborative process across government, businesses and the community. This ensures the strategy aligns with community needs, generates strategy buy-in and creates working partners to assist Council in strategy implementation.
Source: Western Australia Local Government Association, Economic Development Framework, 2019.
approach that encompasses the range of functions and services provided by Council( i. e. Local Government’ s‘ areas of influence’) – including direct services, enabling activities, engagement, strategic planning, supporting and advocacy efforts across various departments( e. g. economy, tourism, planning, infrastructure, community, environment, etc.).
Through this, it is critical that Council officers and departments are informed of the strategy process and have the opportunity to contribute to its development and actions.
SUCCESSFUL STRATEGY DEVELOPMENT Every community has unique conditions which influence its economy and shapes the design and implementation of a local economic development strategy. Although the strategy development process can differ, based on factors such as geographic location and attributes, population and business characteristics, as well as Council resources, we have identified the following practices and processes that are typically adopted by successful Economic Development strategies( see Figure 2.). a. Rural Local Government Area: Usually requires more direct involvement in economic development activities given the smaller population and business base. b. Regional Local Government Area( e. g. peri-urban, regional city): Council typically provides guidance to catalyse and promote economic development. c. Metropolitan Local Government Area: Council has more of a supporting role to enable economic development and support free market practices.
2. Integrated strategy – As mentioned above, an EDS is a key tool in which to achieve the strategic outcomes of a Council Plan. in addition, it should also serve as a mechanism to support other local, regional, state and federal strategies. Ensuring alignment with other strategies provides a consistent approach to achieving economic development and will help garner broader support for Local Government actions.
4. Lens for all Local Government activities – The development and delivery of an EDS requires a whole of government approach that involves the direct and indirect intervention of various departments( refer later in this piece for list of potential functions and interventions undertaken).
5. Business-friendly environment – Ensuring the strategy supports existing and attracts new business investment is a core role of economic development. Councils should create an environment that fosters business competition and productivity, identifying industries that are suited to a particular area and harnessing the local competitive advantages.
FRAMEWORK AND STRUCTURE A 2019 Victorian Auditor General’ s Office enquiry into Local Government and Economic Development identified the following key elements required to create an effective local EDS( see Figure 3.) In all situations, the report structure and framework should be influenced by the need to:
• Capitalise on the area’ s unique competitive advantages;
• Identify and overcome challenges and constraints to economic development; and
• Consider, pursue and prioritise relevant opportunities.
Figure 2. Key Themes for Local Economic Development Strategies
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Enabling and facilitating growth and development of the economy that harnesses an area’ s unique competitive advantages.
Economic development activities should form part of a larger, integrated strategy which is aligned to the broader regional context.
1. Enabling and facilitating growth – Local Governments’ focus should be on leveraging an area’ s competitive advantages( e. g. location, industry specialisations) to support development. The level of intervention( e. g. actions and initiatives) that is undertaken often depends on Council resources, size of the economy, industry base, population profile and location. This includes:
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Collaborating between different levels of Government, business and the community is critical to the success of local economic development initiatives.
Economic development is a lens for all Local Government activities – it should not be undertaken in isolation.
Local Governments should foster a business-friendly environment that encourages competition and productivity.
Consideration of the external environment and broader influences that may impact the local economy( e. g. economic, social, technological, environmental trends).
Source: Western Australia Local Government Association, Economic Development Framework, 2019.
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