What is Economic Development?
‘Economic Development’ is the process of expanding the size of the economy so that greater wealth flows to the community. It is usually measured in terms of increases in jobs and income, but also includes improvements in livelihoods that encompass the quality of life (education, health, lifestyle, culture and environment) and overall community wellbeing.
Economic development is a dynamic process and must be distinguished from the current status of the overall economy (national, state or local). It requires actions and making choices based on a shared understanding by the stakeholders on the benefits and outcomes.
At the local government level, economic development is about delivering positive outcomes for communities in line with their wants, capacity and requirements.
Why is the City of Karratha involved in Economic Development?
The City of Karratha’s Strategic Community Plan (SCP) 2012-2022 outlines the future of our municipality and how we will work together towards building a sustainable, attractive, stable and liveable community.
One of the four core Strategic Themes of the SCP is Strategic Theme Two:
Our Economy: Well Managed and Diversified
Key Goal: We will manage and maximise the benefits of growth in the region while diversifying our economic base.
Employment growth is vital for the City if it wants to achieve the aspirational population targets that are contained in the major strategies such as Pilbara Cities and Karratha City of the North. Employment growth will be facilitated by economic diversification and workforce development both of which the City needs to adopt a leadership position.
The City of Karratha’s Local Planning Strategy will guide the long term planning direction for the municipality whilst the City of Karratha Operational Economic Development Strategy 2014-2016 prioritises the programs and projects to stimulate jobs and diversification.
City of Karratha Economic Prospectus
The City of Karratha has developed the Economic Prospectus which contains a wealth of economic, demographic, community and infrastructure data about our municipality. The information will be very useful informing the preparation of feasibility studies, business cases, funding applications, investigating business opportunities or for prospective residents and/or businesses looking into relocating to Karratha.
The City of Karratha believes that access to quality, up-to-date demographic data is vitally important for all parties involved in planning for future development within the City. To this end, the City commissioned the development of the City of Karratha Population Forecasts website which is designed to inform Council and staff, community groups, investors, business, government agencies, students and the general public. Forecasts are available for each year from 2006 to 2031.
The Economic Profile contains a range of economic data showcasing our economic performance and the size of the regional economy. It includes information such as gross regional product, workforce, major industries, employment/unemployment, businesses, household expenditure and building approvals.
The Community Profile is designed to inform community groups, investors, business, students and the general public about key demographic information. This includes population numbers, who people are, what they do, where they come from and other relevant information.
The Community Atlas includes key socio-demographic characteristics for the City of Karratha presented as interactive maps. Based on data from the 2011 Census of Population and Housing (Australian Bureau of Statistics), each map is prepared using Census Collector Districts providing the finest level of detail to help identify spatial patterns and trends in the area.
Who do you contact at the City for Economic Development enquiries?
Please email enquiries to firstname.lastname@example.org