Profile and Characteristics of the Mid North Coast
Characteristics
The NSW Government's State Plan released in 2006 noted that "it is critical that efforts continue to attract emerging industries and bolster existing industries in regional areas" and committed the government to support "those high-wage, high-skill industries that have the greatest potential to thrive in each region."
The focus of the Mid North Coast Regional Economic Profile (which has been adopted by RDA MNC as its regional plan) was to gather region specific economic data to identify our competitive advantage so our efforts have the best chance of achieving the objectives of the State Plan ie. Broaden the Mid North Coast economy beyond its current over reliance on low wage service orientated jobs by growing high-skill, high-wage innovative and export orientated industries with the greatest potential to thrive in this region.
The Committee's role is to advance and champion the development interests of the Mid North Coast in partnership with the public and private sectors. We can and should provide leadership and act to unify all stakeholders, but the Committee does not have the resources or capability to achieve all its outcomes by itself. It is a facilitator and it depends on its ability to influence those who can make "it" happen.
The Regional Plan identified a number of notable characteristics of the region.
- It has a very desirable natural environment which attracts population growth higher than the state average. Those migrants bring with them significant skills and experience which enhance the human capital. Many become mentors and contribute as volunteers
- It has the capacity to create jobs - 11,500 between 2001 and 2006
- The private sector is largely dominated by small service-based businesses with few established large-scale industries
- Historically high levels of unemployment, underemployment and welfare dependency and a low workforce participation rate
- An older population with over 65 year olds expected to exceed 33% of the population by 2031
- Skills shortages in some sectors, with skills gaps in others
- Consistent population growth and associated urban expansion
- Median weekly household income for the region is $642 or 62.5% of the national rate of $1,027.
Profile
The Regional Economic Profile (REP) was produced in 2008 by the Mid North Coast Regional Development Board.
This organisation was disbanded in 2009 and its activities were absorbed by the RDA Mid North Coast. The content and research remains valid as it was drawn primarily from the current 2006 Census data.
The RDA MNC Board has adopted the REP as the basis for its Economic planning.
