Economic Development in New Communities
There are varying opportunities for developers to practically impact on economic development and local employment when developing new communities:
- Infrastructure works
- Home and non-residential building works
- Ongoing within the community once occupation by residents and tenants commences
- Ongoing employment outside of the estate in surrounding estates/communities.
Councils often have limited programs for economic development in newly developed estates other than:
- Promotion of the council area/shire as a good place for business
Where developers can actively consider and facilitate ongoing economic development the value to the community has significant and broad benefits:
- Create an inherently sustainable community by cutting travel time and carbon emissions of workers;
- Reduce financial stresses caused through the costs of owning a second car or paying for transport costs; and
- Provide potential huge further social gains in mental health and happiness where people are not losing a significant amount of time on travel. More time can be available to spend with family and friends or on other pursuits.
At LID Consulting we can prepare a community economic/employment strategy to ensure a new development stands out from the competition. These strategies can also be tailored to meet the requirements of EnviroDevelopment credit 6.5.1 Community Prosperity – Develop a community economic / employment strategy.
We are members of Economic Development Australia the national professional body for economic development practitioners.
If you have any questions about our Economic Development strategy for new subdivisions please give us a call CONTACT US