Introduction
Aim of this strategy: to increase the wellbeing of Indigenous Australians by supporting greater economic participation and self reliance.
Indigenous economic development is about increasing the economic wellbeing of Indigenous Australians and improving their overall quality of life. It goes beyond the Closing the Gap targets in life expectancy, health, education and employment by encouraging career development, business and home ownership, building individual and family prosperity and making the most of existing assets.
Actions to encourage and support economic development need to reflect the diversity of Indigenous Australians, including:
- where they live;
- demographic profile;
- links with and access to the labour market and broader economy;
- cultural, family and community connections and responsibilities; and
- economic and social aspirations.
This strategy acknowledges that economic development requires action across a range of interdependent areas that highlight the role of the individual, the community, the private sector, and governments. Each element requires the other – incentives to increase labour market participation cannot work if people do not have the health, education and capacity to secure and retain a job.
Approaches to economic development are also dependent on location. In cities and regional centres Indigenous economic development is about ensuring that Indigenous Australians can tap into the existing diversity of economic activity. In these regions the focus is on building individual capabilities to participate and putting effective incentives in place.
In remote locations the opportunity to participate is limited by access to markets. Increasing Indigenous economic development in remote regions is in part about identifying new opportunities (such as emerging industries), supporting access to existing opportunities in employment and business, removing barriers to genuine commercial ventures, and looking at ways to maximise community economic and social returns on government investment.
School attendance, the attainment of literacy and numeracy and increased personal responsibility for child and family wellbeing are fundamental if individuals growing up in remote communities are to exercise a broader set of choices and opportunities. Similarly, long-term reliance on income support undermines other capabilities. Improved education and participation in study and work are essential if Indigenous Australians are to get more out of the assets, opportunities and leadership that exist across remote Australia.