A Peek Inside Geraldton’s Ten Year Growth Plan

Our house and land packages at Geraldton Heights Estate have been extremely successful so far. One of the reasons is that Geraldton’s government and community are years ahead of the curve when it comes to planning for sustainable growth. We talked earlier this month about the plan called Geraldton: 2029 and Beyond. But there is also a ten-year plan in place that was created in 2012, called the Greater Geraldton Economic Development Strategy, 2013-2023.

When the plan was created in 2012, the resources industry hadn’t yet undergone contraction. Unemployment was at 2.9% and the housing market was on its way up. Australia, WA and Geraldton have all seen a levelling off of many of the economic factors that were producing optimism, but Geraldton is still primed for significant long-term growth. Their foresight and planning is a major reason for optimism.

Ten Year Growth Plan of Geraldton

Resources

As most of WA was, Geraldton was spared the brunt of the Global Financial Crisis (GFC) thanks to the resources industry. However, the end of 2012 and much of 2013 saw a drop in demand for resources and the abandoning of many projects that were slated to begin. The resources industry shed a lot of jobs in an effort to “tighten the ship”.

Now, with the drop in the Australian dollar making Australian resources more attractive and competitive in world markets, the worst of the resource industry’s contraction is over and gradual long-term growth is expected.

What Geraldton is Doing About It

Geraldton is aiming for what they call a “more diverse economic base”. While they appreciate the impact of the resource industry, they know that a diverse economic base gives them a lot more “room for error” if the economy goes south. They are doing this by creating a support base of retail and construction that supports many different industries.

Industries that Geraldton is working on attracting: technology, science, education, arts, fishing, agriculture and mining.

For more information, call (08) 9301 4445.