Businesses key to Lismore's economic prosperity

BUYING local is at the foundations of ensuring Lismore's long-term economic prosperity, according to mayor Isaac Smith.

Red hearts are being made and hung at business all around Lismore flagging the town's resilience and survival after the floods. Picture: Rebekka Battista

BUYING local is at the foundations of ensuring Lismore's long-term economic prosperity, according to mayor Isaac Smith.

Cr Smith said supporting businesses was the flood recovery is 'economically led' with a key priority to stimulating the economy.

He said communication between council, relevant agencies and traders was vital to help kick-start trade.

"We need something in place now and in six months to ensure no one falls through the cracks,” Cr Smith said.

Lismore City Council's economic development manager, Mark Batten agreed and said the recovery required a multi-agency effort.

He described the floods as "gargantuan event” with "disaster proportions that have a very long tail”.

"We won't really won't know what this will look like for another year or so,” Mr Batten said.

Looking to the future, Mr Batten said the suggestion of a council emergency flood fund "could be part of a conversation but certainly not priority” at the moment.

Professor of economics at the University of Queensland, John Quiggin said Lismore's potential for growth was an advantage for the region during it's road to recovery.

"Typically these (places) recovery quite quickly if the forces are there,” he said.

"You'd expect to see a robust recovery.”