Latrobe City Council has endorsed an Economic Development Strategy which will guide Council on economic decisions and advocacy efforts through until 2031.
The cornerstone of the strategy is the vision of Latrobe City becoming a nationally significant industrial hub that is diverse, innovative, and highly productive. It's a vibrant regional destination where people choose to live, visit, work, invest and do business, where everyone can participate and thrive in a strong, inclusive economy.
In the development of the strategy, extensive consultation was undertaken with Councillors and 42 organisations across various sectors, including business, industry, government departments, education, health, and the energy sector. Further to this, community consultation was undertaken through Council’s Have Your Say platform which had 134 visits.
Incorporating feedback from the consultation, the strategy sets out an actionable roadmap that leverages Latrobe’s competitive advantages and responds directly to local and industry needs. The strategy identifies the following five themes aligned to a long-term vision for Latrobe City’s economic future:
- A place where people want to live, visit, work and invest;
- A diverse and resilient industrial base, built on our regional strengths and positioned for national impact;
- A future-ready workforce;
- An economy that benefits our community; and
- A place where starting and doing business is easy.
Each theme is driven by clear, bold objectives aimed at transforming Latrobe City’s economy and has three delivery horizons, which focus on protecting, diversifying and reinventing the region’s strengths.
“As our economy in traditional industries diversifies, it’s vital that we have a strong strategy like this to help guide our future investment decisions and advocacy efforts. This also helps us support our existing businesses who are the foundation of the economy,” says Latrobe City Mayor, Councillor Sharon Gibson.
“We know what we do well, we know what we’ve done for a long time and we’re not walking away from them. This strategy builds on our traditional strengths by also supporting the diversification of our workforce into new industries which align with those strengths.”
The Economic Development Strategy will soon be uploaded to the Council website for viewing.