Namoi finds path to $900M future
The Namoi region can secure $250 million in additional economic growth if local leaders focus regional development effort towards four future factors. If commodity cycles and urbanisation trends favour the region, this upside could be as high as $900 million.
This opportunity has been identified by the Namoi Pathfinder project undertaken by the Regional Australia Institute for the Namoi Joint Organisation of Councils (JOC).
“We expect the Namoi region to grow at between 1.7% and 2.4% a year, over the next 15 years,” said RAI CEO Jack Archer.
“This is a good result, but if the Pathfinder Strategy is implemented, local leaders can add up to an average of 0.6% a year to that growth result, which would allow it to outperform the nation.”
The Namoi Pathfinder Initiative emphasises local leaders must focus their efforts in a few key areas to achieve this result. These Namoi ‘Future Factors’ include:
- Maximising innovation in agricultural production;
- Seeking international investment on the right terms;
- Engaging the Namoi in major overseas markets; and
- Leveraging regional marketing effort to attract people to live and work in the Namoi region.
“Pathfinder really shows that if you want to make a genuine difference to the future of this region these are the areas you can make something significant happen” Mr Archer said.
“If you are not focussed on these factors then you should really question whether the effort is going to make a significant impact on the performance of the regional economy.”
Mayor of Tamworth and Chair of Namoi JOC, Cr Col Murray, echoed the sentiments of RAI CEO, Jack Archer.
‘As a region we now have strong evidence about the opportunities for our JOC to make a big impact on the economic future of the region. This gives us both a shared sense of purpose and the confidence to all pull in the same direction and get actions underway to make this growth opportunity a reality for our communities,” said the Mayor.
Information on the Namoi Joint Organisation of Councils is available here.