Goal: 17
Economy

Warrnambool grows its resilient and diverse economy

Grow economic resilience and diversity so new and existing industries continue to succeed in local, national and global markets

2040 Outcome

  • Achieve Gross Regional Product growth in line with Victoria state average.
  • Warrnambool attracts and trains enough skilled workers to meet the needs of local industry.
  • Regional programs that help supply the skill needs of regional employers are provided and promoted.
  • Achieve a minimum 15 years supply of undeveloped land (commercial, industrial and residential).

The changes we want by 2029

  • Residents (and especially young people) have increased awareness of the critical skills and workforce shortages in the local economy.

  • Warrnambool’s employment continues to grow across industry sectors.

  • Unemployment rate in Warrnambool continues to be one of the lowest of any regional city in Victoria and below the Victorian average.

  • Economic participation for those groups who have traditionally had low workforce participation rates (people with a disability, ATSI people, etc) has significantly increased.

  • The Warrnambool Aboriginal Employment Strategy will have been developed and implemented.

  • Warrnambool’s Economic Development Strategy 2015-2020 has been implemented, reviewed and updated.

  • Aboriginal-led economic development is a significant component the regional economy.

  • The visitor economy is diverse and includes cultural tourism, geothermal-based attractions and more high-end accommodation that attracts international visitors.