A new way of achieving regional social wellbeing and economic resilience is needed. The “business as usual” model of regional dependency on trickle downs and periodic handouts from the Treasuries of Canberra and State Capitals is broken.
Regional Australia does not need to despair, despite the palpable failure of today’s dominant model. Indeed, regional Australia has a vast reservoir of tangible economic vitality and capacity that enables it to write its own future. What is needed are the structures, strategies and the people that can harness this vitality and capacity.
Sister City Partners Limited is a not for profit regional investment banking enterprise.
It is the new model needed to build sustainable public value and regional independence.
This new model creates virtuous cycles of capital and consumption activity that minimise leakage and maximise ongoing reinvestment into the regional economic and social fabric.
This is because, as a not for profit enterprise, it cannot distribute profits to disinterested and far-removed shareholders. Rather, as a lawful necessity, it must reinvest these proceeds into businesses and activities that are single-mindedly focused on building regional economic resilience and social wellbeing.
In practical terms, it aims to deliver directly (and indirectly as an intermediary) capital and transactional solutions that support growing business activity in regional Australia. This activity necessarily has an international dimension, as reaching larger markets – particularly in North Asia – through partnerships and collaboration is in many ways a critical precondition for success.
Sister City Partners also aims to promote and provoke public conversations about the future of regional Australia. The Townsville 2070 initiative is part of this conversation.