The City of Ballarat Economic Program 2015 – 2019 sets out a practical framework to guide economic development in the City of Ballarat over the next four years
The Program builds on Councils 20 year economic vision which incorporates three core themes:
1. Regional Development - The Capital of Western Victoria
2. Economic Growth and Diversification - Australia’s Premier High Technology and Knowledge Based Regional Economy
3. Capitalising on Population Growth - A Bigger and More Diverse Community
While addressing the period 2015 – 2019, the program has an eye to the future and lays the foundations for Ballarat to continue its growth and development embracing elements of the new economy such as information, communications and telecommunications while retaining its core and fundamental strengths in key industries such as manufacturing.
Underpinned by a detailed literature review, best practice analysis and extensive industry consultation, the final document was guided by a project reference committee comprising over 20 of Ballarat’s commercial, industry and economic leaders.
The Economic Program presents clear economic scenarios and outcomes for Ballarat based on forecast population growth, participation rates and productivity gains. To drive these outcomes and leverage Ballarat’s core economic assets four key platforms have been identified:
1. Economic Growth and Transformation - actively nurturing opportunities for local firms to deliver productivity gains, improved participation levels and ongoing economic and industry growth resulting from Ballarat’s strong forecast population growth
2. CBD Activation – driving the activation of Ballarat’s CBD to further develop one of the city’s economic turbines
3. Innovation – improving the quality of economic activities through innovation to achieve an increase in standard of living
4. Building Capacity From Within
a) improving the capabilities of local firms to positively influence economic growth and employment creation
b) Building and developing key economic sectors including health, retail, manufacturing, education, tourism, construction, business services, information communications and telecommunications and agriculture