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Driving our growing economy

Friday 14 July 2023

This week our draft Economic Development Strategy was endorsed and is now available for community feedback.

Our city 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. We are also part of the larger Albury Wodonga Functional Economic Region, incorporating Albury, Wodonga, Federation, Greater Hume and Indigo Shire councils, which is recognised growth centre that that functions as a community of 142,000 people.

The strategy was developed after significant community engagement, which included local businesses, industry, educational organisations, service providers, government agencies, and members of the wider community. It contains a range of actions which will be implemented over the next five years to drive our growing economy, support local businesses and the workforce, and further develop the vibrancy of our city.

The strategy objectives include:

Leadership through effective partnerships: AlburyCity is a trusted partner supporting business growth and leading from within. Key actions include advocating to government and private sector for policy and infrastructure investment, and undertaking targeted skilled worker and investment attraction activities.

A resilient and innovative business environment: Supporting business and industry to identify and innovatively respond to opportunities. Key actions include embedding environmentally sustainable development priorities, developing a Night-Time Economy Strategy, establishing initiatives to support First Nations business opportunities, and promoting existing business development.

Inclusive and equitable economic growth: Ensuring economic growth with equitable access to education, training and employment opportunities. Key actions include developing a Lavington Economic Revitalisation Plan and a Creative Economy Strategy, and advocating for expanded childcare services.

A hub of activity and services within a cohesive cross border regional city: Strengthen Albury/Wodonga’s role as a regional hub and operate as one cohesive regional city. Key actions include identifying and advocating for the resolution of cross-border issues, developing a Riverina and Murray Joint Organisation Regional Freight Transport Study, and undertaking an Industrial Land Study.

I encourage everyone in our community to review the strategy to make sure we've captured your ideas and aspirations for Albury’s economy.

The draft Economic Development Strategy can be found on the AlburyCity website.

Frank Zaknich
AlburyCity CEO