ECONOMIC STRATEGY 2010-2014

The Economic Strategy 2010-2014 sets out a 20-year vision for the Ballarat economy. It outlines the role of Council, businesses, industry, government and other stakeholders to achieve this vision.

The Strategy will help Council and stakeholders to deliver economic development outcomes to ensure we can meet the employment and service needs of the city’s growing population and prepare for the changing industry structure.

In developing the Economic Strategy, Council engaged industry experts to provide their input and buy-in to the overall vision and the Strategy itself.

The vision, as outlined in the Strategy, is for Ballarat to become:

1. The Capital of Western Victoria - By building on existing services, facilities and infrastructure linkages, Ballarat will consolidate its position as the capital of Western Victoria over the next 20 years.
2. Australia’s premier high tech and knowledge based regional economy - Ballarat’s diversified knowledge based economy – defined by higher education, health services, research, manufacturing, information technology and business services - will grow, integrate and evolve to generate significant new investment and employment.
3. A bigger and more diverse community - As the local economy grows and diversifies, Ballarat will accommodate a much larger and more diverse population.

The research and consultation that was undertaken to inform the Economic Strategy identified seven key industry sectors that are significant to the Ballarat economy. The sectors identified are:

• Business Services (including property, finance and insurance)
• Health and Community Services
• Education
• Tourism
• Retail
• Manufacturing and Information
• Communications and Technology (ICT)

The Strategy also identifies two economy wide priority areas that are vital to the growth of the Ballarat economy - a skilled workforce and business development and innovation capabilities.

The Economic Strategy is a document for the entire city. Council will work with the community, business and industry to drive economic growth and prosperity for Ballarat and the region.

The vision for Ballarat’s economy can only be achieved with the focussed collaboration of all these groups.

Click here to view the Economic Strategy 2010–2014.