Unemployment now lower in North-West but Cradle Coast CEO says regions must work together

cradle coastNorth-West Tasmania no longer has the highest headline unemployment rate in the state, according to the Australian Local Government Association’s latest State Of The Regions report.

The report, released on Sunday, revealed the North-West’s unemployment rate has fallen over the last two years, recording 8.8 per cent in 2014 and 7.0 per cent so far in 2016. The rate in the North fell a modest .7 per cent from 7.9 per cent 2014 to 7.2 per cent so far this year.

Cradle Coast CEO Brett Smith said the North and North-West aim to work hand-in-hand for the benefit of both regions.

“North and North-West Tasmanian communities are interdependent with important economic relationships and connections,” he said.

“We need to work collaboratively across the North and North-West and trade on the unique advantages that we offer.”

But the report also reveals there are only 21.2 hours of work per week available relative to the number of adults available to work, suggesting many counted as employed are not working full time.

Mr Smith said underemployment is “both common and increasing across Australia.”

The average income per household has taken a hit, coming in at $88,540 in 2015 – a significant decrease from $96,750 recorded in 2012.

Mr Smith said Cradle Coast is working with councils in the North-West to stimulate growth in the region.

“The councils are committed to a regional economic development plan that is being developed by the Cradle Coast Authority,” he said.

“The plan will identify opportunities, barriers, gaps and comparative advantages that can activate the economy.”

Headline unemployment is a figure produced by the Department of Employment, taken from the Small Area Labour Markets publication. To read more click here.

The 3rd Australian Regional Development Conference; Participation and Progress will be held in Canberra on 5 – 6 September 2016 to register for the conference CLICK HERE.

The conference explores opportunities for innovation in regional Australia. With its rich resources, diversity, and value, regional Australia is the catalyst for the future.

Addressing issues such as sustainable development, environmental sustainability, land use, community development, investment, agribusiness and innovation it is an opportunity not to be missed.

Building Hubs and Clusters: strategy for industry in regional Australia

Proactive regional, rural and small communities are recognising the imperative for building hubs and clusters. In South Australia the Regional Development Australia (RDA) is waiting for the South Australian Government to finalise the details of a new ‘cluster’ group initiative. The Government announced $2.9 million funding in June to develop the industry working groups, to improve communication between regional businesses.

South Australia RDA

South Australia RDA

RDA will trial the networks in the Riverland and Murraylands. RDA, Chief executive Brenton Lewis says ….”We never entered into this cluster development on the premise that we would attract State Government funding, it wasn’t even on the radar,” he said.

“We believe that collaboration in regional business, like-minded businesses, is a smart thing to do.“It’s difficult for the businesses themselves to raise up and make that happen but we’re in a fantastic position as RDA to be able to facilitate the coming together initially.”

Read More from South Australia Read More  Posted Mon 21 Oct 2013

Building Hubs and Clusters

The benefits of clusters were spelled out in a Harvard Business Review article by professor Michael Porter, who defined them as “critical masses in one place of linked industries and institutions from suppliers to universities to government agencies – that enjoy unusual competitive success in a particular field.”

This critical mass, said Porter, has three important effects on competition: they increase productivity of local companies; they stimulate innovation; and prompt the creation of new businesses within the cluster.

Would you like to speak on hubs and clusters in regional development

Would you like to share your thoughts on: insights and experiences on developing community hubs; clusters; creating partnerships; community enagement and support; funding; and government support for these initiatives.

Building clusters and hubs for waste, bio-clusters and bio-hubs and energy hubs are very topical and we welcome submissions to speak at this conference on these topics.

Call for papers – hubs and clusters: would you like to speak on economic development at this conference?

Authors or organisations interested in submitting a paper or presenting a workshop are invited to submit an abstract of no more than 300 words outlining the aims, contents and conclusions of their paper or presentation; or about their intended role in a workshop.

Australian Regional Development Conference

RDA Conference15-16 October 2014, The Commercial Club Albury Secretariat: (T) 61 7 5502 2068 (F) 07 5527 3298 Email: secretariat@regionaldevelopment.org.au URL: www.regionaldevelopment.org.au