For the first time, Tamworth Regional Council will undertake a study to gather data which shows the full extent of the economic impact of prolonged drought on its community.
Councillors at tonight's Ordinary Meeting decided to proceed with the study titled Economic Benefits of a More Reliable Water Supply for Tamworth.
They also agreed to proceed with a proposed scope of research received from the Regional Australia Institute in a submission which indicates it will partner with the CSIRO for the study which will be funded from the Water Reserve.
A report that went to Council tonight stated that while the region has experienced two severe droughts in the last 15 years and multiple periods of water restrictions, all the facts and figures have not been documented.
Director of Water and Waste, Bruce Logan, said: "This study will give us tangible evidence regarding the full extent of the economic impact of prolonged drought. Currently we are working on anecdotal evidence so to have the facts and figures will be very beneficial."
Council's strategy is to use the findings of The Economic Benefits of a More Reliable Water Supply for Tamworth study to:
- Support State and Federal government lobbying efforts to deliver reform leading to greater water security and sustainability; and,
- Improve Council's response and engagement with businesses during future periods of water restrictions and drought.
The study will focus on assessing key socioeconomic data to establish a baseline for evaluating the impacts of the 2017-2019 drought on Tamworth and the regional economy.
The study will include investigations about lost investment opportunities for business and industry due to water restrictions and lack of raw water supply; decrease in new resident attraction; impact of the media and negative perceptions on business operations, investment and general population growth; business closures directly or indirectly due to drought; reduction in business turnover; impacts on accommodation providers; and, impacts on large water users and associated industries.
It is expected the study will be completed by early 2022.
