Albury services the wider region as the major retail, commercial, administrative, health, educational, and cultural centre. Located at the centre of the Sydney-Melbourne-Adelaide triangle, Albury is recognised as a leading regional centre with a positive outlook for growth, investment and employment.
Albury’s Gross Regional Product in 2022 was estimated at $4.5 billion, having experienced relatively consistent growth since 2012. Albury is also part of the larger Albury Wodonga Functional Economic Region, incorporating Albury, Wodonga, Federation, Greater Hume and Indigo Shire councils, which is recognised as a growth centre that functions as a community of 142,000 people.
The Economic Development Strategy was developed after significant community engagement, which included businesses, industry, educational organisations, service providers, government agencies, and members of the wider community.
It focuses on four key objectives centred around building strong leadership and partnerships, creating a resilient and innovative business environment, driving inclusive and equitable economic growth, and being a hub of activity and services in a cohesive cross-border region.
Key actions in the strategy include advocating to government and private sector for policy and infrastructure investment; undertaking skilled worker and investment attraction activities; developing a Night-Time Economy Strategy; supporting First Nations business opportunities; focusing on existing business development; developing a Lavington Economic Revitalisation Plan; advocating for expanded childcare services; identifying and advocating for resolution of cross-border issues; facilitating initiatives for the delivery of a Riverina and Murray Joint Organisation Regional Freight Transport Plan; undertaking an Industrial Land Study and more.
AlburyCity Mayor Kylie King said “The economic vision for Albury is to become ‘The Regional City of Choice’, ensuring our growing and diverse population is balanced by sustainable progress in business, industry, and tourism offerings, whilst also providing equal opportunities for all.”
“The Economic Development Strategy establishes clear priorities for the coming five years to continue driving the success of our vibrant city, and supporting our local businesses and workforce to take advantage of the opportunities available to them.”
The Economic Development Strategy can be found on the AlburyCity website.