A new economic growth strategy for Rotorua will be presented to Rotorua District Council's Economic & Regulatory Services Committee today.
The draft Rotorua Sustainable Economic Growth Strategy is expected to set the direction for Rotorua's future economic progress to lift Rotorua's overall economic performance.
Rotorua District Council chief executive Peter Guerin said the council remained one of the district's key economic development entities and the strategy would provide for more effective collaboration with local businesses and key agencies.
The new strategy is guided by Rotorua's four main economic drivers - forestry and wood processing, tourism, geothermal resources and agriculture - and was prepared following a high-level review of Rotorua's economic position and a series of workshops with Rotorua stakeholders across several months, guided by an independent project reference group.
It identifies three key objectives for the next five years:
Change the reputation of Rotorua
Rotorua needs to promote itself as a leader in tourism, forestry and wood processing and geothermal industries and as a lifestyle destination.
Its perception outside the district needs to be as an attractive place to invest and an easy place to do business, with a focus on innovation and an enabling regulatory environment.
Lift the performance of the local economy
Rotorua aims to lift its growth rate for start-up companies to above the national average and implement an active business retention strategy.
Goal include employment growth 0.1 percentage points higher than the national average each year and to increase population by the same margin to generate greater demand in the economy.
In tourism, the aim is to raise average room nights and spend to at least the national average growth rate for both domestic and international visitors.
Raise living and skills standards
The aim is to increase household income faster than the national average growth rate to reduce the proportion of homes in the bottom national income quartile by increasing skills in the workforce.
Guerin said the strategy focused on allocating resources where they would influence outcomes, rather than wider macro-economic issues.
Implementation will look beyond Rotorua District Council to include agencies involved in the district's economic development such as the Rotorua Chamber of Commerce, Waiariki Institute of Technology and key government departments.
Project reference group chairman Pim Borren said the group researched economic development models around the country and international best practice models.
"Our preferred option for implementation is a council controlled organisation.
"This structure would have clear accountability to the council and business community, with strong clarity of roles."
Borren said a small, unencumbered team could act strategically to achieve better economic results for the city.
11 strategy focus points
Alignment with local initiatives and central/regional government economic goals
Attracting investment, industry and new residents
Business development, including start-ups
Commercialisation of intellectual property
A business-friendly district council developing infrastructure and a District Plan to support sustainable growth and aligning planning and policy documents to create investor certainty
Industry development, with a priority focus on the central business district
Industry retention
Land use change
Leadership and strategy implementation
Provision of high-quality economic research and information to inform both public and private sector investment
Post-school education and skills development