What is the RDACC Regional Snapshot?
The RDACC Regional Snapshot provides statistical analysis of a vast array of regional data to provide a concise economic, social, environmental and cultural description of the Region.
The Regional Snapshot also contains a high definition infrastructure map outlining the Agricultural, Commercial, Educational, Hospital/medical, Industrial, Parkland, Residential, Transport and Water areas of the Central Coast.
The RDACC Regional Snapshot is structured by the five key determinants of long-term regional economic growth:
FIVE DETERMINANTS OF LONG-TERM REGIONAL ECONOMIC GROWTH
The Council of Australian Governments (COAG) Regional Australia Standing Council (RASC) has established national approaches to regional development in order to facilitate collaboration and coordination between different levels of government. RASC has agreed to five key determinants of long term regional economic growth:
- Human Capital, particularly education and skills - Human capital is the stock of knowledge, expertise and abilities of a region.
- Sustainable Communities (economic, environmental and social) and population growth Sustainable communities refers to the ability of a region to endure in the long term. It has economic, environmental and social dimensions. Population growth refers to change in the size of a population over time, caused by migration and natural change through births and deaths.
- Access to international, national and regional markets. This refers to the ability to trade goods and services in a given market.
- Comparative advantage and business competitiveness - A region has a comparative advantage when it can produce a product, good or service at a lower opportunity cost than other regions. Business competitiveness is the ability of a business to sell and supply goods and services compared to a competitor. A business has a comparative advantage when its products or services cannot be easily duplicated by competitors
- Effective cross-sectoral and intergovernmental partnerships (including through place-based approaches) and integrated regional planning.