Blue Mountains City Council (BMCC) will join with local business to form a new economic development entity.
Councillors resolved to form the Blue Mountains Economic Enterprise (BMEE) at the March 13 council meeting to encourage economic diversification, generate employment, support new business development and the growth of existing businesses, and attract investment into the Mountains.
The initiative was developed in collaboration with the Economic Development Entity Establishment Group, formed in May last year to consider and recommend possible models to best deliver economic development in the region.
“This is an important and innovative initiative of the council developed with the business sector to support a more sustainable economy for the Blue Mountains,” Mayor Daniel Myles said in a statement.
The BMEE will have a skills-based board of six to eight members, including two council representatives, with the public selection process for board members to commence shortly.
BMCC’s overall support to sustainable economic development through the BMEE will be at least $1.3 million over four years.
“It is envisaged that the BMEE board would be in position after that establishment period to generate additional grants and income from other sources to support projects and initiatives,” Clr Myles said.
A business resource centre will also be set up following the endorsement of the BMEE and the lease of council office space to the regional chamber of commerce, Biznet.
“The establishment of the economic hub with the BMEE and Biznet accommodated in the one building is another move forward in supporting economic development in the city,” Clr Myles said.