|The roadmap is the Victorian Government’s response to locally developed advice for addressing the challenges facing the region’s economy. |
It includes early actions and intervention to create employment and stimulate new investment ahead of major restructuring of the power generation sector and the full impacts of a national price on carbon emissions.
Following 14 months of extensive research and engagement, a final report was provided to the Victorian and Commonwealth Governments in June this year.
The roadmap outlines a consolidated view on the key strategic directions and actions required to support the Latrobe Valley, manage the challenge of structural adjustment and reposition its economy for sustainable long-term growth as follows:
|1. Transitioning business and workers – ensuring workers and businesses affected by the economic transition have employment and business opportunities.|
|2. Strengthening the workforce – ensuring education provision and local industry needs are better aligned, and participation in training and higher education increases are in line with future industry skills demands.|
|3. Infrastructure for growth – ensuring governments and industry plan and coordinate infrastructure to support industry growth and diversification.|
|4. Strengthening innovation and competitiveness - ensuring businesses are supported to increase their competitiveness and drive innovation.|
|5. Attracting and facilitating investment – ensuring existing businesses are helped to expand, and new businesses are encouraged to locate in the Latrobe Valley.|
|6. Enhancing liveability – ensuring the Latrobe Valley maintains and enhances its reputation as a liveable community.|
|7. Working together – next steps – ensuring governments, business, unions and other regional stakeholders work cooperatively to diversify and grow the region’s economy.|