IAG's commercial insurance brands CGU and WFI Insurance have signed on as champions of a First Nations-led economic plan that aims to add $180 million a year to the Goulburn Murray economy and create 460 full-time jobs by 2036.

Key points

• The Yorta Yorta plan chasing 460 new jobs by 2036
• Why IAG’s broker brands signed on in Shepparton
• “We can sustain ourselves”: Paul Briggs on what the Plan means for his people

The Shepparton-based Kaiela Institute launched the Goulburn Murray Regional Productivity and Prosperity Plan (GMRPPP) on Yorta Yorta Country in 2021. The Plan brings together organisations committed to First Nations economic participation, employment, enterprise development and community prosperity.

Its founding principle holds that when First Nations peoples, businesses and communities thrive, the whole region benefits socially, culturally and economically.

Kaiela Institute executive chair Dr Paul Briggs AO said the Plan sets out to adjust historical behaviours and establish new ones that centre Aboriginal identity in the economic and social life of the Goulburn Murray, without the loss of cultural integrity.

"The Plan brings a heightened sense of optimism amongst our people and the region, in that we can sustain ourselves and secure the long-term sustainability of the Yorta Yorta peoples," Dr Briggs said.

CGU and WFI chief executive Jarrod Hill said the agreement ties directly to the insurer's Reconciliation Action Plan.

"We are proud to champion the Goulburn Murray Regional Productivity and Prosperity Plan," Mr Hill said.

"Aligned to our Reconciliation Action Plan, the partnership enables us to collaborate on Indigenous-led solutions to drive economic growth, develop resilience and deliver meaningful change for First Nations communities in the region."

The relationship has deep roots. CGU has worked with the Yorta Yorta peoples through Jawun, the organisation that places corporate and government staff on secondment with Indigenous organisations. The Kaiela Institute has hosted Jawun secondees since 2010.

"This builds on CGU's long history of engagement with the Yorta Yorta peoples through our partnership with Jawun, and participation in secondments and capability-building programs for our senior leaders and broking partners," Mr Hill said.

Dr Briggs said the next step is turning the partnership into work on the ground.

"We are delighted that CGU and WFI have become Plan champions, and look forward to working together to develop practical initiatives and create sustainable employment pathways for the region's First Nations peoples."