Cessnock City Council will conduct a study that will allow it to engage with local businesses, identify opportunities and barriers, and develop programs to attract investment.
The council has been allocated $15,000 from the Australian Government’s Building Better Regions Fund Community Investment Stream to undertake the business capability study (which has a total cost of $30,000).
The study will determine how many businesses operate within the region, their size, employment capacity, export and import status, ICT take up, and also identify opportunities and barriers to doing business or driving investment within the region.
The data provided in the study will enable the council’s economic development team to contact businesses with ongoing opportunities and industry capacity-building under the Advance Cessnock City partnership.
Council will be able to use this data to develop targeted business programs in the attraction of major capital investment and also to inform strategic projects.
The business capability study will complement council’s skills audit and business jobs portal, which is currently being implemented (and was also made possible with funding from the Building Better Regions Fund Community Investment Stream in 2017).
Cessnock mayor Bob Pynsent welcomed the funding announcement and is looking forward to seeing the results of the study.
“For successful economic development to occur, it is absolutely critical that there is a comprehensive understanding of industry and businesses, along with their capacity and needs, which this study will provide,” Cr Pynsent said.
“By taking a strategic leadership role, we will be able to facilitate outcomes that will stimulate enterprise, investment, job creation, resilience and an environment conducive to business.
“It is a credit to the economic development team who continue to excel in these initiatives.”
The project is expected to kick off in October 2018 and be completed by June 2019.
For more information, visit advancecessnockcity.com.au or call Jane Holdsworth on 4993 4257.