Across Australia, councils are turning to economic development strategies to shape their local economies. But these strategies are far from uniform. They vary by scope, audience and approach. These differences reveal a lot about local priorities.

Investment prospectuses are rapidly becoming standard for councils who are looking to attract new capital.

Focused international engagement demands rigour: narrow the target list, define clear public-and-private roles, and track the metrics that matter.

Recovery is more than just fixing what’s broken. Done well, it can be one of the most powerful tools in the economic development toolbox.

In a global, knowledge-driven economy, people are the main driver of productivity, innovation and growth. And people - especially those with skills - are increasingly mobile.

Retail is a small, low productivity sector. Yet its indirect effects on talent, creativity, placemaking and tourism are profound.

The city centre can become a place for knowledge production and exchange - a concentrated, high-value part of the urban economy where collaboration, specialisation and innovation thrive.

The climate transition is not just an environmental imperative; it represents one of the largest waves of investment in human history, unlocking unparalleled opportunities for economic development, job creation and industry growth.

While innovation districts can be powerful tools for fostering innovation, they are not always the right answer. In many cases, a broader sectoral approach - one that strengthens innovation ecosystems across an entire city - delivers greater impact.

Australia’s economy has transformed dramatically over the past decade. While mining remains dominant, the rise of knowledge services, the digital economy and the caring sectors is reshaping the nation’s industrial landscape. Understanding these shifts is crucial for economic development leaders who must navigate emerging opportunities and challenges.

The landscape of local economic development is shifting. Traditional approaches remain important. But new ideas are emerging, reshaping how cities and regions foster economic growth.

Local councils are uniquely positioned to support startup ecosystems through a range of low-cost, high-impact methods.