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22-07-08 Need and opportunity to take NSX forward
Need and opportunity to take NSX forward
The National Stock Exchange (NSX) is represented in Geelong, Gold Coast and the Sunshine Coast. NISER represents the NSX on the Sunshine Coast and as a not-for-profit public company, NISER provides the strong corporate governance, transparency, flexibility and neutrality needed to successfully engage all stakeholders.
NISER relies predominantly on local business funding and modest funding from NSX, whereas some other models in Australia such as the Gold Coast NSX (a partnership set up between Business Growth Gold Coast and NSX) is supported by the Gold Coast Council and the federal government. Business Growth GC is a not-for-profit subsidiary of the GC Business Advisory Board which is made up of about 40 business representatives whose primary role is to advise the Gold Coast Council on business and economic issues.
Business Growth Gold Coast was granted considerable resources from both the Gold Coast Council and matching funding from the federal government Department of Transport and Regional Services’.
There was also considerable in-kind support from the state government’s Department of State Development and financial and in-kind support from the NSX.
After an 18 month establishment period, replicating the Gold Coast model on the Sunshine Coast has been interrupted by federal, state and local elections. There is now a need and opportunity to take the Sunshine Coast NSX to the next level.
However, it is timely to reflect on the political climate. The previous federal government went into caretaker mode at the announcement of the election and from that point onward no grants for projects, and no new programs were delivered, restricting opportunities for NSX expansion under the Gold Coast regional model. Since the change in government, the federal regional economic/business support policy has been reviewed (Area Consultative Committees) and although there has been an establishment of the Regional Development Australia (RDA) department, no significant programs have been re-instated.
It is estimated it will be some time before a new federal regional economic/business policy will be in place and operational.
For further information call 07 5442 5050
email niser@niser.org.au or visit www.niser.org.au
