Economic Development Strategy
Town of Cambridge | 2018
- Economic Development Strategy
- Cluster Analysis
- SWOT Analysis
- Stakeholder Engagement
Pracsys was engaged by the Town of Cambridge to undertake an Economic Development Strategy (EDS), with the intent of improving industry linkages between the Town of Cambridge and Western Australia/Australia. Overarching strategies were needed to guide the Town to its objectives with a clear understanding of the Town’s role in facilitating economic development.
We employed an Economic Cluster Analysis to identify strong clusters of traded industry activity, industries linked in supply chains and comparative advantages in the Town of Cambridge compared to other Local Government Areas in Greater Perth. Extensive consultation was conducted with key stakeholders in the community to identify the local government functions industry leaders wanted the Town to focus on. Floorspace analysis was undertaken based on the analysis, consultation and population projections to provide a long term understanding of the development requirements of the Town’s activity centres.
We designed an EDS that incorporated both the strategic objectives set by the Town of Cambridge, such as improving industry linkages, and the industry strengths and weaknesses within the Town. Our EDS provided four key goals for the Town, a breakdown of how each activity centre in the Town will contribute to these goals, preliminary actions to achieve these goals, the timeframe these goals needed to be completed within, and impact metrics to monitor the completion of these goals.