COMMUNITY OUTCOME 3: A THRIVING AND STRONG ECONOMY A strong regional economy that supports business and jobs growth. Our regional economy has an annual gross regional product of $4.78 billion with approximately 34,900 of our residents currently in work. High employment industries include healthcare and social assistance, followed by retail trade, accommodation, food services, and construction. Industries such as agriculture, forestry, fishing and manufacturing also employ a significant number of people in the region. Our economy is supported by tourists, visitors and those migrating to our area, and we promote our region to maximise the value of current and emerging opportunities. Improvements to our towns and villages are important to attract visitors, encourage businesses and attract significant events. Our businesses have shown that they are resilient, innovative and adaptable, particularly in response to the changes brought by the COVID-19 pandemic, the natural disasters that have impacted our region as well as rapidly changing technologies. The population of our region is widespread, with more residents migrating to hinterland areas as new residents relocate to the area. It is important to our community to support economic development and education opportunities and to have roads, bridges and pathways that connect us. Our widespread population presents unique challenges in how our infrastructure is constructed and maintained. Our community faces many challenges including a high unemployment rate (7.3% compared to rates of 5.9% in regional NSW, 6.3% across NSW, and 6.4% across Australia) while at the same time we experience significant shortages of skilled labour and difficulties attracting skilled staff. We also lack local education and training opportunities. Other challenges include the impact of tourism and population growth on natural and cultural assets; the need to balance the construction and maintenance of our road network with the expectations of our community; and the increasing maintenance and repair costs to infrastructure and natural assets as a result of the impacts of climate change.
MidCoast Council: Community Strategic Plan
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