A NEW report has called on Bunbury to develop its “local innovation, technological readiness and human capital” if the city is to reach its future potential.
The Regional Australia Institute report, titled Cities Beyond Perth: Best Bets for Growth in a New Economic Environment, says Bunbury’s existing population size, diversity of industry and available infrastructure underpin its potential for ‘city-sized opportunities’.
But City of Bunbury Mayor Gary Brennan pointed to the city’s success on a national and international stage as an indication that the future already looked bright.
“We have a number of nationally and some internationally competitive businesses operating from Bunbury so while there is always a quest for improvement, our innovation, technology and human capital resources are in place,” Mr Brennan said.
“We also have a number of younger enterprising business people making a positive difference to our economic landscape.
“The fact we have attracted a number of major investor organisations to our city is also testament to what is already happening within our city and importantly the opportunities we have into the future.”
Bunbury Chamber of Commerce and Industries chief executive Ray Philp said the city’s emerging industries would come from the growth in Asian markets looking for innovative and quality products.
He said this would require digital connectivity through fast broadband capability.
Mr Philp added that expanding the city’s capabilities of air and port transport to markets was also essential.
Bunbury-Wellington Economic Alliance chief executive Matt Granger said Bunbury and the South West was well-placed with “key bedrock industries with long time horizons” as well as new emerging opportunities.
“Over the past year, investments in agribusiness and the creative industry sector are examples of the latter,” Mr Granger said.
The report identified a source of competitive advantage in the growing concentration of population in larger regional cities and towns in WA, which experienced significant population growth as a result of the mining boom.
“Australia has a history of taking a reactive ‘clean-up’ approach to industry changes – such as manufacturing – so it’s important we break that cycle now in WA,” institute deputy chief executive Jack Archer said.
To read the report go to regionalaustralia.org.au
