Strategic Regional Development Activities
Keston Economics works with a range of public sector clients to develop and implement regional development strategies in areas such as cluster analysis, economic strategy development, stakeholder consultation and analysis, accessing funding, evaluation of grant funding applications, strategic planning. Project examples are provided below.
Great Southern Strategic Economic Development Plan (2021)
Working on behalf of the Great Southern Development Commission, Keston completed a Strategic Economic Development analysis for the Great Southern region of Western Australia.
The Great Southern, in common with regions across Australia, faces a number of key opportunities, challenges and threats over the coming decade that require responses at all levels of government, industry and the community. To help inform these responses, the analysis aims to help guide strategic investment by government and the private sector and to improve planning.
The analysis was intended to provide overarching strategic guidance to inform actions that would build upon the economic strengths of the region and to respond to the opportunities for, and threats to, the economy.
Economic development is about harnessing the natural, industry and community resources and opportunities to stimulate sustainable economic activity.
Among other issues, the analysis considered.
- The development of the regional economy.
- The support of existing business and industry.
- The facilitation of sustainable and innovative practices.
- The creation of an environment that is conducive to business and industry development and attraction.
- The building of partnerships, business networks and alliances.
Working on behalf of the Great Southern Development Commission, Keston completed a Strategic Economic Development analysis for the Great Southern region of Western Australia.
The Great Southern, in common with regions across Australia, faces a number of key opportunities, challenges and threats over the coming decade that require responses at all levels of government, industry and the community. To help inform these responses, the analysis aims to help guide strategic investment by government and the private sector and to improve planning.
The analysis was intended to provide overarching strategic guidance to inform actions that would build upon the economic strengths of the region and to respond to the opportunities for, and threats to, the economy.
Economic development is about harnessing the natural, industry and community resources and opportunities to stimulate sustainable economic activity.
Among other issues, the analysis considered.
- The development of the regional economy.
- The support of existing business and industry.
- The facilitation of sustainable and innovative practices.
- The creation of an environment that is conducive to business and industry development and attraction.
- The building of partnerships, business networks and alliances.
Preliminary Assessment of Emerging Energy Options in the Great Southern (2016)
This study assessed a number of emerging energy options in the Great Southern region of Western Australia, including:
- Extension of the Dampier to Bunbury natural gas pipeline to Albany with various alternative routes being considered and/or favoured by different interests.
- Consolidation and expansion of wind energy options.
- A major proposal from a private/public sector partnership for a micro-grid solution along the South coast incorporating solar, battery storage and wave energy.
The study aimed to assess these options in terms of their respective costs, benefits and, in particular, risks. A multi-criteria approach was used, which provided the basis for balancing the pros and cons of such diverse projects, with differing outputs. A tool was developed for ranking the options across four different broad criteria:
- Energy factors: the ability of each option to meet forecast total demand and peak demand and the estimated reliability of each option for power generation.
- Financial factors: the level, phasing and funding sources of capital investment required, and the estimated financial feasibility.
- Economic factors: the estimated contribution of each option on the regional economy, both during the project construction phase as well as ongoing benefits.
- Risk factors: the perceived risks of each option (technology, implementation, market, regulatory and societal).
The analysis was made within the context of uncertainty in energy demand due to a number of factors including natural gas pricing, future industry growth and market adoption of decentralised energy technologies. It was also recognised that modular technologies present lower risk than non-modular technologies and the ability to phase investment allows response to changes in demand and the progressive adoption of new technologies.
The tool developed enabled a multifactorial comparison of options and a simple summary of the comparison. A fifth option was also highlighted to indicate that alternative options exist, which would need to be considered in a definitive assessment.
Development of a Regional Economic Development Strategy for Great Southern (2012)
Working on behalf of the Great Southern Development Commission, Keston completed a Regional Economic Development Strategy (REDS) for the Great Southern region of Western Australia.
The Great Southern, in common with regions across Australia, faces a number of key opportunities, challenges and threats over the coming decade that require responses at all levels of government and the community. To help inform these responses, the REDS aims to help guide strategic investment by government and the private sector and to improve planning.
The REDS is intended to be an overarching strategic document outlining actions to build upon the economic strengths of the region and to respond to the opportunities for, and threats to, the economy. It aims to provide planning direction and inform stakeholder's actions for a 10 year horizon spanning from 2012 to 2022.
Among other issues, the REDS considered:
- The development of the regional economy.
- The support of existing business and industry.
- The facilitation of sustainable and innovative practices.
- The creation of an environment that is conducive to business and industry development and attraction.
- The building of partnerships, business networks and alliances.
Katanning Economic Development Strategy (2013)
The Katanning Economic Development Strategy (KEDS) drew on strategic work undertaken as part of the SuperTowns program to define a strategy to harness natural, industry and community resources and opportunities to stimulate sustainable economic activity.
To do this, the KEDS examined the economic opportunities and challenges for Katanning within the context of the broader vision for the community, to identify the directions the town should try to develop its economy, and the strategies that will enable it to do so.
The novelty in the study arises from the continuous consideration of economic implications of each dimension of prior work (particularly the Katanning SuperTowns Growth Plan), the identification of key gaps in prior work (and there are a number of significant gaps despite the breadth and depth of that work), and most importantly, the design of a set of complementary economic development strategies that will enable Katanning to achieve its economic and broader vision.
The KEDS addressed Economic, Sustainability and Societal objectives for the town and its surroundings, recognised the key challenges over the coming decades, including: population growth and demands on housing, amenities and infrastructure, an ageing population, environmental concerns, including climate change, water shortages and dry-land salinity, globalisation and tackling social issues.
The KEDS was developed through background research and analysis and through consultation with the Shire and industry. From this, the strategic and tactical responses required to address issues were identified.
The Impact of the National Anzac Centre as a Major Cultural Attraction (2015)
This research report was commissioned by the City of Albany to investigate the impacts of the National Anzac Centre (NAC) as a major cultural attraction to Albany and the surrounding region. Heritage and cultural tourism is one of the largest and fastest-growing global tourism markets in Australia and the development of heritage and cultural assets is a means for creating comparative advantages for tourism destinations such as Albany. This research has focused on the economic impacts to Albany and the region, though the core roles of the NAC in remembering, respect, dialogue, public participation, preserving history and education are also recognised.
The findings of the research were that the NAC is providing an economic benefit to Albany, and the wider region, principally through attracting visitors from outside of the region who then spend money in the region that otherwise would not occur. The principal economic benefits were quantified as part of the study.
Feasibility Study and Operational Plan for an Innovation Network in Yorkshire, UK (2010)
Keston undertook the design, development and initial implementation of an Advanced Materials Solutions Innovation Network in Yorkshire and Humberside. This initiative is a multi-sectoral network designed to stimulate effective knowledge and technology transfer between participants.
The Network aims to help regional companies to identify and respond to future business challenges and opportunities. It is doing this through identifying a number of pertinent industry-led topics, via a range of future proofing activities, and facilitating consortia of companies through the subsequent innovation journey in order to deliver increased competitiveness and business growth.
The Innovation Network is clearly differentiated from single company focused support initiatives, such as the Innovation Support Service, but coordinates activities in order to ensure smooth and efficient interfaces. Under the design and development contract, a Feasibility Study and Operational Plan for the establishment of the Innovation Network were developed and these were successful in securing investment for the initiative.
Provision of Analysis into Successful Innovation in Regional Western Australia (2012)
On behalf of the Department of Commerce and in association with the Western Australian Technology and Industry Advisory Council (TIAC), Keston undertook a project to explore the factors that influence the success of innovation in regional areas of WA in order to provide recommendations for new strategies to stimulate regional innovation and add value to the state. This work is important as it is widely recognised that innovation is a key driver of economic development.
Through stakeholder interviews and associated surveys, the study collected information and evidence to:
- Identify a wide range of examples of both successful and unsuccessful innovations originating from regional areas of WA,
- Identify factors that contributed to the success of these innovations and/or barriers encountered that limited or prevented the success of their innovations,
- Identify the key locations of regional innovators and the factors that lead innovators to choose those locations,
- Identify the key factors that underpin the success of innovation in regional areas,
- Identify areas of focus that offer the greatest opportunity to stimulate innovation and add value to the State.
Collaborative Multidisciplinary Research Facilities (2012)
In June 2011, the Premier of Western Australia announced a $63 million package to support the government’s Kimberley Science and Conservation Strategy. Successive Commonwealth Governments have also acknowledged this need by funding research programs. These programs are generally aimed at all of tropical Australia, not just the Kimberley. Given the current situation, this project was commissioned to explore whether existing and future research in the Kimberley would benefit from the establishment of new research facilities in the region, and if so, what form any new facilities would take.
The project was undertaken by Keston, working in conjunction with the Centre of Excellence for Natural Resource Management (CENRM) of the University of Western Australia (UWA).
The number of stakeholders involved in research in the Kimberley are numerous and diverse. It was important to capture all of the activities and initiatives underway and to identify gaps and opportunities for future activities. Gathering and analysing all of this information was the key challenge and was undertaken through an extensive program of stakeholder interviews, supported by a wide-ranging survey in order to capture quantitative information about perceptions and activities.
The project; identified research groups operating within and contributing to the region, mapped the existing research infrastructure, identified potential growth areas for research, described the nature and scope of research facilities required to meet the future demand for research, and provided recommendations on how existing facilities might be enhanced and better utilised.