Economic Development Strategy

What is economic development?

Economic development is the intentional practice of improving a community’s economic wellbeing and quality of life by facilitating collaboration between industry, business, government and community stakeholders.

Economic Development includes:

• Creating local jobs
• Supporting local businesses
• Attracting new investment
• Building industries for the future
• Improving prosperity and quality of life
• Ensuring Cairns remains a great place to live, work and visit

Why does it matter?

Cairns is the economic heart of Far North Queensland, generating almost $13 billion in economic activity each year.

As our population grows, we need to create more jobs, identify priority industries, attract investment and support industries that will help our community prosper.

Council's goal is to help grow the local economy by:

• Adding $1.5 billion to the Cairns economy by 2030
• Supporting the creation of 10,000 new jobs by 2030

Our vision for 2030

Cairns Regional Council's vision is to help shape a robust, growing and diversified economy that supports a prosperous future for Cairns.

By working together with industry, government and the community, Cairns can continue to grow in vibrancy and connectivity, focussed on future growth and creating opportunities for residents today and generations to come.

What is Council's role?

Cairns Regional Council’s Economic Development and Advocacy Directorate works closely with other Council departments, industry and business, community, and State and Federal Governments. Through collaboration we cultivate a strong business environment and support industry growth, driving economic development and creating prosperity for the people of Cairns. Council’s role in economic development can vary between activities and initiatives depending on a range of factors.

Industries that will help drive future growth

Council remains committed to supporting all sectors of the economy. The strategy identifies several industries with strategic contribution and potential to create jobs and economic growth.

Top industries by contribution to the economy

Top industries by employment

Note the Top Industries included in the graphs above depict the largest industries in Cairns by employment and contribution to Gross Regional Product (GRP) defined by the Australian and New Zealand Standard Industry Classification (ANZSIC) definitions.

*Priority industries identified in this Strategy such as Aviation, Marine and Defence, and Tourism are each non-standard industry classifications and draw from a cross-section of ANZSIC codes. The inclusion of non-standard industries in this strategy is a result of independent analysis of industries representing the best economic opportunity for the region.

Priority industries

• Healthcare and Social Assistance
• Construction
• Tourism
• Education and Training
• Aviation
• Marine and Defence

Supported regionally by agriculture and mining.

What Council will focus on over the next five years

Council's Economic Development Strategy focuses on five pathways:

• Investment Attraction and Promotion
  Promoting Cairns as a place to invest, do business and create jobs.
• Strategic Precincts and Land Use
  Working with partners to deliver major development projects and infrastructure.
• Major Events and Visitor Economy
  Leveraging opportunities such as the Brisbane 2032 Games and attracting visitors year-round.
• Business Support, Innovation and Local Economy
  Helping businesses connect, grow, innovate and compete.
• Engagement, Collaboration and Resilience
  Strengthening collaboration across government, industry and the community while preparing for future challenges and natural disasters.