Council has continued to encourage, preserve and build economic development in the Cairns region through the delivery and support of key projects, initiatives and events.
Adopted in May 2018, the Economic Development Strategy 2018-2022 outlines Council's plans to deliver a strong, diversified and resilient regional economy.
Since its implementation, key highlights of the strategy include:
- Continued management and review of Council's three-year Resource & Performance agreement with Tourism Tropical North Queensland (TTNQ), which provides for $3 million (ex GST) per annum in financial support to TTNQ until June 2020.
- Cairns 2050 Shared Vision, developed in conjunction with key regional stakeholders and formally endorsed by Council in November.
- The 2018 Tropical North Queensland Innovation Awards (TNQiA) delivered with support of 10 sponsors and with over 54 entries. 200-250 attendees.
- Support and participation in Tradelinked delegation to Lae, PNG as well as hosting and supporting inbound delegations from Lae in partnership with the Department of Foreign Affairs and Trade (DFAT) and Tradelinked.
- Council has supported many major events which attracted intrastate, interstate and international events to the region, including a NRL Premiership match, Targa Great Barrier Reef, Swimming Australia – Para Pan Pacific Swimming Championships, 7 Cairns Marathon, Cairns Airport Adventure Festival incorporating IRONMAN Asia Pacific Championships, and Red Hot Summer Tour April 2019.
A report tabled at today's meeting showed that Cairns economy grew by 3.3% in the year to June 2018, a result which was well above the national growth rate for the same period.
This growth rate was also the highest the Cairns economy has recorded since 2007.
The improvement in the region's unemployment rate has also continued with the most recent regional labour force data published by the Queensland Government for July 2019 indicating the Cairns region unemployment sits at 4.4% which is the lowest of any region in Queensland.
