Victor Harbor Investment Attraction Strategy

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• Victor Harbor Investment Attraction Strategy Adopted

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  The Council has worked closely with Business Victor Harbor to develop an Investment Attraction Strategy that maps out a pathway for successfully attracting the investments needed to grow Victor Harbor’s economy. It also aims to strengthen Victor Harbor’s position as the regional centre of the Fleurieu Peninsula.

  The four-year Investment Attraction Strategy is the first of its kind for Victor Harbor, and sets out a pathway against a vision: Where investment is rewarding, easy, well informed and supports Victor Harbor as a place of prosperity and sustainable growth.

  The strategy provides greater clarity on the various roles of the stakeholders that have an interest in attracting investment to Victor Harbor, while articulating these roles against the various actions identified.

  The success of the Investment Attraction in Victor Harbor has been aligned to four sectors of the local economy:

  1. Health Services
  2. Construction
  3. Professional Services
  4. Visitor Economy

  The above sectors have been identified on the basis of the competitive advantage that Victor Harbor possesses in these areas, along with their potential to create higher than average wages and local jobs. Increasing local household incomes is expected to drive increased levels of local consumption supporting a thriving local business community.

  The strategy also seeks to address impediments to local investments, both perceived and real. Actions in this area focus on development pathways and supporting investments in growing local talent and skills, enabling local businesses to deliver on their aspirations.

• Consultation Open

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  The City of Victor Harbor is preparing an Investment Attraction Strategy.

  This document will play an essential part in identifying likely investment, targets, impediments and pathways for business and workforce attraction to grow the City's employment base and further economic opportunities.

  The draft Strategy was developed as a collaboration between Council, Business Victor Harbor and key stakeholders to identify strategies and actions that support business and investor attraction to Victor Harbor and the broader region.

  About the draft Strategy

  The Council through the design of its Economic Development Strategy identified the need for well-articulated Investment Attraction Strategy and action plan, working in partnership with Business Victor Harbor to excite interest in Victor Harbor as a place to invest.

  The Strategy aims to:

  • Identify the commercial investment opportunities that will support the sustainable growth and development of the Victor Harbor economy and how can this investment be enabled;
  • Identify the target sectors Victor Harbor should focus on attracting and/or fostering the growth of and why;
  • Determine the roles of the City of Victor Harbor, Business Victor Harbor and Regional Development Australia in delivering this Strategy; and
  • Identify the impediments to greater levels of local investment in Victor Harbor and how they should be addressed.

  Investment Attraction has been identified, through Council's Economic Development Strategy as an essential part of sustainably growing the City of Victor Harbor's employment base and growing the capacity of the Victor Harbor economy.

  Victor Harbor is experiencing solid growth, however, its local employment base is relatively small and its population is ageing, with 56.7% of its resident aged 55 and over (abs.gov.au/census).

  Whilst Victor Harbor is and will continue to be home to a large retirement community, the Strategy and Action Plan seeks to identify opportunities to grow and attract successful businesses that, employ locals and attract new working-age residents to the region.