bringing $570.4 million in annual revenue, tourism is one of the most important industries in the region. Estimates show the MidCoast tourism industry has the potential to grow to over A$1.55 billion by 2030. In addition to tourism, the region has a long-established agribusiness sector including beef cattle and dairy farming. Beef cattle production and processing employs over 1,000 workers in the region while there are over 150 separate dairy farms utilising coastal and hinterland pastures ideal for dairy cattle. The region is well suited to aquaculture activities including oyster farming and commercial fishing with many prosperous commercial operations in place. Other major economic industries in the region include manufacturing, retail, construction, education, health, aged care and community services. Health care and social assistance is the largest industry employer in the MidCoast Council area making up 18.5% of total employment. These industries are well supported by the eight local business chambers across the MidCoast region. Major investment opportunities exist for businesses that complement the area’s environmental values and relaxed lifestyle attributes. MidCoast Council has undertaken a number of key projects to advance the economic opportunity of the area including the development of the Taree Aviation Business Park. 6 Finally, the third key initiative of the RDA Hunter is the preparation of a Smart Specialisation Strategy for the Hunter which aims to boost regional competitiveness for economic growth and job creation by identifying Strategic Actions to deliver innovationdriven growth and implementation programs to support the Region’s seven Strategic Growth Areas, as illustrated below: Figure 3. Strategic Actions for Priority Growth Industries in the Hunter 7
6 7
http://www.hbrmag.com.au/assets/2020-Hunter-Investment-Prospectus.pdf smart-specialisation-strategy-for-the-hunter-region.pdf (howardpartners.com.au)
Draft MidCoast Rural Strategy
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