Home City of Ballarat News CITY OF BALLARAT NEWS IN BRIEF Thursday 3rd September 2015

CITY OF BALLARAT NEWS IN BRIEF Thursday 3rd September 2015

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AT last week’s council meeting the Ballarat City Council approved the City of Ballarat’s Economic Program 2015-2019.

The Program sets out a practical framework to guide economic development in the City of Ballarat over the next four years. The Economic Program 2015-2019 is closely integrated with Council’s long term plan for growth and development, The Ballarat Strategy (2015), and is supported by detailed implementation and marketing plans.

The Program builds on Council’s 20-year economic vision which incorporates three core themes: Regional Development – the Capital of Western Victoria Ballarat will consolidate its position as the capital of western Victoria over the next 20 years. The city will serve the region with higher order retail, service, business, institutional, entertainment, recreation and cultural needs; Economic Growth and Diversification Ballarat will build on its strengths to become the premier high tech and knowledgebased economy in Australia. The city’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 jobs, including a large number of highly skilled jobs. Workers from around Australia will look to relocate to Ballarat to access its high quality job and lifestyle opportunities; Capitalising on Population Growth Ballarat will accommodate a much larger and more diverse population as the local economy grows and diversifies, and the city’s status as the regional capital with a nationally significant knowledge-based economy reaches new levels. The economic vision for the City of Ballarat, created and developed in the 2010 Economic Strategy, has been endorsed by Council and the city’s economic leaders for the 2015 Economic Program. City of Ballarat Mayor Cr John Philips said, “Council is proud to support and deliver the City of Ballarat Economic Program 2015-2019, the key economic blueprint for the city. In partnership with the Ballarat Strategy, this key strategic document will inform quality discussions with State and Federal Government about positive development in our city, and will drive public and private investment in Ballarat.”

“A strong local economy improves the quality of life for all Ballarat residents. More money in our city supports business, securing jobs and attracting new employment. It facilities positive development and strengthens our services including health, education, retail, and social and cultural activity.”

“Council has an important and well-defined role in the economic development of the city, and indeed the region. We want the whole community to understand and support the long-term economic vision, and the new City of Ballarat Economic Program 2015-2019.”

City of Ballarat CEO Anthony Schinck added The City of Ballarat Economic Program 2015-2019 will drive the future expansion and development of our local economy. It provides a clear picture of our economic position and our detailed plan for Ballarat’s economic future.

“The Program was developed following a detailed consultation process with an expert reference group of business leaders and employers including representatives from Commerce Ballarat, Committee for Ballarat, Australian Industry Group, RDV, Bridge Mall Traders, Federation University, St John of God, Ballarat Health Services, Sovereign Hill, Ballarat Regional Tourism, Ballarat ICT and local businesses. We are fortunate to have a diverse range of industry and economic leaders in Ballarat and we appreciate their input and support of the Program 2015-2019,” Mr Schinck said.

“From 2007 to 2014, the economy of Ballarat increased its output from $7.8 billion to $10.3 billion. Driven by remarkable growth in the services sector, that’s an impressive additional $2.5 billion in the local economy.” “Ballarat’s unemployment rate has fallen, from 7 percent at the end of 2010 to around 5 percent just three years later. The local rate is now below the national and state unemployment rates for the first time in many years.”

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