Investment Attraction Strategy, Prospectus and Policy

About

Council is in the early stages of developing an Investment Attraction Strategy, Prospectus and Policy.

Moorabool’s rapid population growth, particularly in the major town centres of Bacchus Marsh and Ballan, offers opportunities and challenges as the Shire competes for business and government infrastructure investment against fast-growing neighbouring areas of Melton, Wyndham, Ballarat, and Geelong.

The Investment Attraction Strategy, Prospectus and Policy will focus on the current and forecast population growth and will aim to strengthen the local economy, reduce escape expenditure, promote local business activity, and help create job opportunities.

Summary of key findings:

  • By 2031 the population is expected to increase to 46,500+ with 85% of that growth in Bacchus Marsh.
  • Moorabool’s economy experienced significant growth between 2016 and 2021 with employment increasing by 30%.
  • Moorabool residents working elsewhere (Ballarat, Melton, City of Melbourne, Wyndham and Brimbank) increased by 31% from 2016 to 2021 with many employed in the construction, health, public administration and education sectors.
  • Moorabool is impacted by its proximity to large economies in adjoining municipalities with significant tourism “Brand” destinations such as Hepburn, Ballarat and Macedon Ranges.
  • Escape expenditure continues to be a challenge for Moorabool. 70% of escape expenditure is to Melton and Ballarat.
  • Top three categories of escape expenditure are grocery stores and supermarkets, dining and entertainment and fuel.
  • Moorabool’s visitor economy is primarily a day trip market with visiting friends and relatives (VFR) being the main reason for 53% of overnight stays. 85% of VFR overnight visitors stay with friends and relatives.

Background

The development of an Investment Attraction Strategy, Prospectus and Policy is a priority project in Council’s Visitor Economy Strategy 2023-2027 (VES) and Economic Development Strategy 2023-2027 (EDS). The two strategies set a clear vision for economic growth in Moorabool Shire and for the development of a strong visitor economy.  

How to get involved

Register to attend a facilitated workshop to be presented with the background research and initial findings that have been undertaken to assist in developing an Investment Attraction Strategy, Prospectus and Policy.

 

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