PROCESS Through first-hand experience working across a range of metropolitan, regional and rural Councils, I have found that a successful EDS typically adopts a multistaged process( see Table 1) to ensure the strategy:
• Is well researched and evidence-based;
• Highlights the attributes and specialisations of the local economy;
• Responds to broader economic, social, environmental and technological trends;
• Reflects the needs and aspirations of community, business and government stakeholders;
• Aligns with existing strategic priorities; and
• Develops realistic, practical and measurable actions.
CONCLUSION While there is no singular process for strategy development, there are common principles and factors that should be considered by Local Government economic development practitioners when preparing and implementing an Economic Development strategy. Ultimately, whichever process is adopted, it is critical that:
• The unique attributes, advantages and challenges of an area are identified;
• Key stakeholders have an opportunity to shape and respond to the strategy; and
• All Council departments are informed of the process and have the opportunity to contribute to strategy delivery; and
• The strategy includes actions that are practical, measurable and are within Local Government’ s areas of influence.
REFERENCES
Economic Development Australia end University of Newcastle, Institute for Regional Futures,‘ Measuring the impact of economic development Economic impact report’, 2024. Available at: https:// static1. squarespace. com / static / 59ae4a2a6f4ca38d47990cd8 / t / 675 f80e4e25f7d40f2edc130 / 1734312183566 / EDA + Economic + Sector + Report _ Final. pdf
Victorian Auditor General’ s Office,‘ Local Government and Economic Development’, 2018. Available at: https:// www. audit. vic. gov. au / sites / default / files / 2018-03 / 180308-Local-Gov-Eco- Dev. pdf
Western Australia Local Government Association,‘ Economic Development Framework’, 2019. Available at: https:// walga. asn. au / awcontent / Web / Documents / Economics / Economic- Development-Framework. pdf
Figure 3. EDS Framework and Structure
Source: VAGO audit of Council economic development strategies, 2018
Table 1. Typical EDS Process STAGE OVERVIEW TYPICAL ACTIVITIES
Stage 1: Policy & Strategic Context
Stage 2: Background Research & Analysis
Stage 3: Stakeholder Engagement
Stage 4: Strategy & Action Plan Development
ABOUT THE AUTHOR
Recognise the broader strategic, economic and social environment and trends influencing local economic development.
Examine the key attributes and specialisations of a local area’ s population, industry base and workforce.
Ensure the strategy aligns with the values, needs and aspirations of community, business and government stakeholders.
Develop realistic, practical and measurable actions that will achieve agreed economic development outcomes for a local area.
JONATHAN ROCHWERGER Jonathan Rochwerger is a Director at Urban Enterprise, where he provides specialist economic, financial and strategic advice to a range of clients, including local councils, state government, property developers and tourism operators. He has a background in economics( Hons.) from Monash University, as well as experience working internationally and across Australia, in the fields of economic development, tourism planning, infrastructure funding and
• Examine broader strategic context
• Review macroeconomic trends and external influences
• Understand regional context and economic attributes
• Population and demographic profile
• Economic profile
• Visitor economy profile
• Detailed key sector analysis and industry specialisations
• Councillors
• Council staff
• Industry
• Community
• External stakeholders( e. g. Government agencies, developers, large employers, health and education providers, etc.)
• Business surveys
• Situation analysis
• SWOT analysis
• Economic development framework( vision, objectives, etc.)
• Projects and initiatives
• Action plan
• Public consultation
• Strategy implementation
governance reviews. His subsequent capabilities and skillset cover a range of areas, including strategic planning, business cases and feasibility studies, economic and financial modelling, market analysis and strategic reviews. Jonathan also specialises in stakeholder consultation and regularly leads engagement, including workshops and focus groups with government, community and industry. He ensures all projects are evidence-based and backed up by qualitative and quantitative research, to ensure all outcomes for clients are realistic and achievable.
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