Otago Chamber of Commerce North Otago spokesman Simon Berry said the possibility of setting up a trust that businesses could contribute to for projects was discussed at an economic development forum held last month.
The Waitaki District Council, Otago Chamber of Commerce, Tourism Waitaki and business leaders were invited to the forum, which provided an opportunity to brainstorm ideas for economic growth for the region.
Initial feedback about establishing a stand-alone body had been positive.
Mr Berry said economic development had to be a collaborative effort and a stand-alone group would have to work alongside the council.
Oamaru needed to take advantage of what it had, such as its resources, amenities, cheap housing and low congestion, in the quest for economic development, but it required the right people and the necessary clusters of businesses to create economic opportunities, Mr Berry said.
''We can manage it ourselves. We can also, I guess, pick and choose projects,'' Mr Berry said.
''It gives us a bit more freedom and flexibility.''
In an Otago Daily Times article last month (Business network aims to energise region), New Zealand Institute of Economic Research principal economist Shamubeel Eaqub emphasised the need for community buy-in, vision and leadership for economic development in the regions.
''Help may not come from others; it has to be led by your community,'' he said.
''Citizen-led initiatives are the only way we will have the energy and endurance to bring the lustre back to our provincial economies.''
Mr Berry said he would like to engage with other community groups in the region, such as the newly formed Grow North Otago, to discuss the initiative and gauge interest.
Another meeting will be held at the end of the month to discuss progress.
''We've got a lot of great material to work with,'' Mr Berry said.
