Investment Prospectus Esperance 2022

Invest in

ESPERANCE WESTERN AUSTRALIA

Esperance, out of

THIS WORLD The Esperance Region is a key centre in Western Australia, and plays host to an abundance of extraordinary beauty in some of the world’s most pristine beaches and natural wonders.

The Esperance Region’s economy is currently worth over $2.5 billion annually, with activity mainly focused around agriculture, mining and tourism.

A time of change and

OPPORTUNITY Esperance is a truly extraordinary destination with a globally unique environment, vast coastline, 105 islands and 5 National Parks, including Cape le Grand National Park which contains Australia’s whitest sand beach. There has never been a more exciting time to do business and invest in the Esperance Region.

The Shire of Esperance is driving sustainable growth through it’s Economic Development Strategy.

Key objectives include supporting high value industries, developing employment opportunities and increasing the value of exports via Esperance’s deep-water port.

Capitalising on the region’s world class beaches, islands and stunning National Parks, the Shire of Esperance recognises tourism as a significant economic driver, with a recently finalised tourism strategy putting a spotlight on the opportunities within the tourism industry.

Imminent increases to domestic and international visitor arrivals via improved access offer opportunities for appropriate development, particularly for new accommodation investment.

There are also significant opportunities to valueadd to the agricultural and mineral production currently occurring in, and exported from, Esperance. With well-connected transport routes and world class primary industries, opportunities abound.

I welcome you to explore our town and Shire and become part of our thriving and growing economy.

- a letter from the Shire President, Ian Mickel

The region’s natural attractions are supported by a range of accommodation options, retailers, scenic cruise shipping, whale watching, scenic helicopter and aircraft operators, deep sea fishing, diving and stunning walking trails.

The recently completed $25 million foreshore redevelopment in Esperance and the game changing James Street Cultural Precinct Development Plan will serve to provide a variety of exciting business and investment opportunities.

Front Cover Image Lucky Bay, Cape le Grand NP

Access to

OUR REGION The region’s established and expanding export supply chain infrastructure is supported by excellent road & rail links to the Esperance Port, with strong links to both the WA mining and agriculture industries and infrastructure.

A $120 million Port Access Corridor has recently been completed in Esperance. The region’s rail connection between the Port of Esperance and inner Goldfields (which goes through the Dundas Shire and City of Kalgoorlie-Boulder) acts as an important economic enabler for the Western Australian mining industry and presents potential for regional export growth.

Kalgoorlie

Eucla Norseman Ravensthorpe ESPERANCE

Perth ESPERANCE

Sky’s the limit

ESPERANCE AIRPORT Esperance Airport is owned and operated by the Shire of Esperance and provides access to Perth and beyond. Multiple daily flights operate 7 days a week.

Considerable works are currently being explored to create new air routes via the ‘Kalgoorlie-Boulder Esperance Aviation Development Partnership’.

On offer in the

MAJOR INDUSTRIES

DEEPEST PORT IN SOUTHERN AUSTRALIA

THRIVING AGRICULTURAL SECTOR

The Port of Esperance is the deepest port in the southern part of Australia capable of handling cape size vessels up to 200,000 tonnes. The major export is iron ore, along with being the largest nickel concentrate exporting port in the southern hemisphere and a major grain exporting hub. The Port handles in excess of 200 ships and 13 million tonnes of cargo each year, including container handling facilities.

The area is rich in agriculture, primarily grains and broad acre cropping with an annual gross value of agricultural production of over $500 million. The region offers an exciting range of opportunities for crop diversification, industry research and development and value adding manufacturing and processing.

A SKILLED AND READY WORKFORCE A flexible and highly trained labour force of almost 9,000 with an unemployment rate of only 2.25%

ESTABLISHED EXPORT HUB Esperance’s established and expanding export supply chain infrastructure is supported by excellent road and rail links to the port and strong links to the WA mining and agriculture industries and infrastructure.

On offer in the

MAJOR INDUSTRIES UNTAPPED TOURISM POTENTIAL

RENEWABLE ENERGY

Esperance annually welcomes over 200,000 visitors which also delivers over 890,000 visitor nights with an average length of stay of four days/nights. Both domestic and international visitors are attracted to the spectacular natural assets of the Esperance Region each year.

The regions considerable renewable energy potential revolves around wind, waste, tidal, solar and geothermal - with almost half of the local electricity grid already provided by renewable energy sources. There is also potential for Green Hydrogen development opportunities.

The region offers significant potential to expand the tourism industry through investment in accommodation, aviation / airport services, product development, services and experiences.

LIFESTYLE + AFFORDABILITY The high quality relaxed regional lifestyle located in an extraordinary environment is a significant factor in attracting new residents, high end retirees, business and tourists from around the world thus driving investment and employment opportunities.

PRODUCTIVE AND PROSPECTIVE MINING Mining has been a mainstay of the Esperance Region throughout its history. The region retains excellent prospects including large known and potential nickel, gold, copper and coal deposits. In addition to the potential for further mine development, the employment and income generated by the sector provide broad opportunities across consumer and services industries.

Woody Island

BROAD POTENTIAL ACROSS A

DEVELOPING SEAFOOD SUPPLY CHAIN From rather modest beginnings, Esperance’s commercial fishing industry has grown into a vital source of diversification for the local economy. Opportunities exist to expand the regional seafood industry presence across high value aquaculture and an expanded supply chain.

Bandy Creek Boat Harbour

The big picture

REGIONAL PROJECTS RAC RESORT & CARAVAN PARK The former Esperance Seafront Caravan Park has recently reopened after a multi-million dollar redevelopment following acquisition by the RAC. JAMES STREET PRECINCT The James Street Precinct has been identified as the key Community, Cultural and Tourism precinct in Esperance. An initial concept plan for redeveloping the precinct has been completed and detailed concept design, business case and costings are now being prepared for the first stage.

NEW PUBLIC JETTY Opened in March 2021, the 415 metre Esperance Jetty replaced the Esperance Tanker Jetty and was built for the Esperance community and visitors to enjoy. Fishing, walking, photography and diving are all accessible.

LUCKY BAY BREWING Lucky Bay Brewing is continuing to expand both it’s premises and product range, including brewing beer with local raw barley.

PUBLIC TRANSPORT STRATEGY A trial of public transport (bus) service is commencing in July 2022 to improve access between the town centre and surrounding suburbs.

ESPERANCE FORESHORE DEVELOPMENT Development of the Esperance Foreshore commenced in 2012. The most recent elements included replacement of the jetty, the addition of a beach enclosure and ocean lap pool and ongoing development of the Esperance Youth Precinct.

MOUNTAIN BIKE TRAIL The ‘Piggery Mountain Bike Trail’ experiences for all grades of riders.

offers

WORLD CLASS WALK TRAILS Esperance offers an extraordinary variety of world class

walking trails including wetlands of international importance, National Parks and Esperance town walks.

RARE FOODS AUSTRALIA (ASX:RFA) RFA is the largest sea-based producer of greenlip abalone in Australia, they are currently undertaking a bankable feasibility study into the development of a land-based abalone farm in Esperance as part of a joint venture with Yumbah Aquaculture, with targeted completion in June 2023.

In the pipeline ESPERANCE YOUTH PRECINCT The newest development along the Esperance Foreshore is the Esperance Skate Park and Youth Precinct.

Initially focussed on a new skate park the precinct had the recent inclusion of a pump track, with further development planned to broaden the precincts appeal and continue to further activate the foreshore.

RESIDENTIAL SUBDIVISIONS The Shire is currently in the process of constructing two stages of the Flinders Estate. One consisting of 29 cottage lots, the other being 45 standard housing lots.

WASTE TRANSFER STATION A new multi-million dollar waste transfer and resource recovery station is being currently being developed to meet Esperance’s future needs.

FUTURE PROJECTS

The region at a glance

ESPERANCE STATISTICS POPULATION

14,178

WORKING AGE POPULATION (ages 15 - 64)

65%

MEDIAN INCOME

$50,944 MEDIAN AGE

41 yrs

LABOUR FORCE

GROSS REGIONAL PRODUCT (GRP)

UNEMPLOYMENT RATE

NUMBER OF BUSINESSES

MEDIAN HOUSE PRICE

BUSINESSES WITH > 5 EMPLOYEES

MEDIAN RENTAL PRICE

AGRICULTURE & FISHING

8,743

2.25%

$319,500 $988 / mth

$2.7 bil 1,729 247

(Largest industries)

$507.2 mil

Estimated resident population - total and population density: 2020 data added, 2019 data revised in line with revisions to the source data.

Counts of Australian businesses, entries and exits: 2020 data added, new items added for turnover size by number of business entries, exits, and total, prior year data revised in line with revisions to the source data.

Lake Hillier, Middle Island

Investment & Development

OPPORTUNITIES

WOODY ISLAND The only island out of 105 in the archipelago that is inhabited, Woody Island operates as a tourism and eco-accommodation destination, with the rare opportunity for a new operator to further enhance its unique offering.

LUXURY HOTEL OPPORTUNITIES & UNIQUE VISITOR ACCOMMODATION

As tourism continues to expand with high annualised occupancies, the opportunities for the redevelopment of existing accommodation properties and the development of unique, boutique and luxury accommodation providers is significantly increasing.

RESIDENTIAL HOUSING OR APARTMENTS

With the expectation of a growing population and a current lack of properties in the rental market, the time is ripe to invest in housing.

TOURISM PRODUCT DEVELOPMENT

Increasing tourism numbers are creating a demand for additional tourism attractions and activities.

RENEWABLE ENERGY With abundant wind and sun, vast tracts of land and the adjacent deep water port, Esperance is ideally situated as a renewable energy hub. The town’s electrical supply is already provided by close to 50% renewable sources (wind and solar).

OTHER Increasing residential and tourism populations are also opening up opportunities for additional Retail & Shopping, Dining & Eating Out options, Commercial & Mixed Use investment and the development of Entertainment Precincts and New Tourism Product.

Development

Non - Tourism

SIMON LATCHFORD Tourism Development Ph: +61 423 358 170 simon.latchford@goldenoutback.com

TREVOR AYERS Manager Economic Development Ph: (08) 90710644 trevor.ayers@esperance.wa.gov.au

TOURISM & AVIATION

INVESTMENT

Image Credits: TourismWA, Shire of Esperance, Southern Ports, Dave Caporn, RAC Parks, Woody Island Eco Tours, Rare Foods Australia, Maratime Construction, Lucky Bay Brewing.