In the heart of NSW’s Riverina region, the town of Hay is asking big questions about its future.
Over a week in April, The Next Economy met with more than 30 local landholders, business owners, and community leaders to explore how the regional economy works—and how it can adapt to the challenges and opportunities ahead.
“We’re working with the Hay community to build a rich picture of the local economy—how it operates, who’s involved, and what’s needed to make it more resilient and future-ready,” says Jacqui Bell, Project Lead at The Next Economy.
This work is part of a broader effort to co-develop a regional economic roadmap—a guide to help Hay navigate dynamic social, environmental, and economic change. The process is grounded in local knowledge and shaped by the lived experience of those who call the region home.
This work follows on from the development of a set of principles for successful renewable energy development in Hay (in partnership with Re-Alliance), and the Regional Resilience Plan (in partnership with TNE and the Australian Resilience Centre) in Hay over the past two years.
Asking the Right Questions
The conversations in Hay are centred around a series of powerful questions:
- What does our economy look like, and why does it work the way it does?
- What trends—local and global—are shaping our future?
- What can we do together that we can’t do alone?
- How do we ensure that the wealth generated here benefits the whole community?
These questions are helping to surface both the strengths and vulnerabilities of the region’s economy, and to identify opportunities for collective action.
A Sector Under Pressure
Hay, like many regional communities, is facing cascading pressures: rising costs of living, workforce shortages, climate impacts, and uncertainty around the energy transition. These challenges are compounded by confusing policy signals and complex market mechanisms—particularly in the agriculture and land sectors.
“There’s growing interest from global markets and investors in low-emissions, nature-positive products,” says Jacqui. “But those signals often aren’t reaching producers on the ground—or they’re too weak or confusing to drive meaningful change.”
This disconnect is contributing to scepticism and fatigue in communities already being asked to take on significant risk to address climate change and biodiversity loss.
No One-Size-Fits-All
The Next Economy’s work in Hay reinforces a key insight: context matters. A one-size-fits-all approach to agricultural transition won’t work in Australia. Each region has its own assets, challenges, and aspirations.
“How transitions are managed locally will shape the future of entire regions,” Jacqui explains. “Strategic planning and coordination are essential—not just to respond to change, but to shape it in ways that are fair, effective, and grounded in place.”
What’s Next
The roadmap being developed with the Hay community will help guide investment, policy, and local action. It’s part of a growing movement across regional Australia—where communities are stepping up to lead the transition to a climate-safe, regenerative, and socially just economy.
“This isn’t just about adapting to change,” says Jacqui. “It’s about creating the conditions for communities to thrive in the next economy.”
Read more about our work in Hay, NSW:
Strengthening Hay and Carrathool – Resilience Plan launched!
Primary producers in Hay, Carrathool help shape NSW region’s economic future