| | Regions are Rising
Liz Ritchie
CEO, Regional Australia Institute (RAI)
| | | One of the enduring questions challenging many regional leaders is: should our region specialise and play to its strength, or do we need to diversify to improve our resilience? At our final Regions Rising webinar last week, we launched our latest research report about the impacts of economic specialisation versus diversification in mid-sized towns. The available evidence suggests that mid-sized towns with a population of 5,000 to 50,000 are more likely to experience strong growth if their economy is more specialised. Our experience strongly recommends place-based growth strategies, as every regional town is different and the most appropriate strategy will vary from place to place as economies similarly vary. Read the full report or check out the summary factsheet here.
The latest job vacancy figures are out, and show over 54,000 jobs in Regional Australia were advertised online in October. This new record is up 7% from the record-breaking 50,000 in September. Regions are bouncing back faster than the cities, with an astonishing 13% increase in job vacancies from October last year, pre-COVID, while the capitals are still down 20% over the same period. Read more from our Chief Economist Dr Kim Houghton.
What a year it has been for events! We have just wrapped up our Regions Rising Webinar Series for 2020 and would like to thank the 20 speakers we hosted and the 4,300+ registered attendees from across the country. Also, a big thank you to Bendigo and Adelaide Bank and their charitable arm the Community Enterprise Foundation for making the series possible. Without their commitment to regional people, we would not have been able to keep you all connected over the year. Watch recordings of every webinar on our YouTube channel.
As we now turn our attention to Regions Rising 2021, we look forward to returning to the regions and bringing out thought leadership to life. Stay tuned for location and date announcements of state-based events.
To kick things off in 2021, our National Summit will be in Canberra on 17-18 March: Growing Regional Australia - Shaping the Good Life. While we hope you can join us in person, we are looking at alternative ways for you to interact with the Summit, and will be live-streaming the event online. Keep your eye on our socials for when virtual-attendance tickets go on sale. You can secure your seat in Canberra with early-bird pricing here, including a number of packages for the two days.
Remember, we are launching our National Awareness Campaign creative at the Summit, so I would want to be in the room where it happens!
Finally, there are only a few days left to apply for an Innovate with nbn grant! We’re proud to partner with NBN Co to deliver this new grants program that’s designed to support regional tech businesses. Through this grant program, NBN Co aims to encourage you and your business’ technology-led ideas, supporting you as you take them to the next level by facilitating further growth and innovation. I have no doubt helping judge the applications will be a difficult task, as there is so much innovation and passion out there in the regions! There’s seven $10,000 grants up for grabs, plus an overall winner will take home $25,000! Applications close 30 November so spread the word to your regional business friends. Apply online here.Until next month, stay safe and stay connected!
Liz Ritchie
CEO, Regional Australia Institute (RAI) | | |
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