Esperance An Economic update

Major Industries (Esperance Ravensthorpe) A location quotient determine which sectors form the economic base of an area IndustryLocation Employment Trending Quotient Agriculture, forestry and fishing6.3 Mining2.9 Transport, postal and warehousing1.4~ Construction1.3 Education and training1~ Rental, hiring and real estate1~ ABS (still the latest info) 2007 comparison Where greater than 1 means an areas labour force is usually biased towards that particular group (2 = twice as many people while 0.5 = half as many)

Key Economic Issues Unemployment rate Labour force participation rate Rental Housing availability Transport / freight costs Impact of the digital economy Investment attraction and industry attraction and retention Migration of young people out of the region Overall there seems to be a shift in the local economy which over time will impact on the number and types of jobs being offered. This presents both an issue but also an opportunity

Key Economic Issues Participation rate >80% Based on population over 15 years of age

Growth Scenarios

Priorities to achieve growth scenarios Addressing Low unemployment rates and ability to fill vacancies Housing availability Population attraction and retention and encouraging young people back to Esperance once education complete Develop and streamline industry and investment attraction process Support existing businesses within the region Maximising opportunities emerging in the digital economy.