The Northern Grampians Shire Economic Report Card looked at economic activity from 2008 to 2011 and found that despite a drop in retail activity, manufacturing, agriculture and professional services had all expanded.

Northern Grampians councillor Wayne Rice said the report card was an important document which encouraged investment in the shire.

"We are 'kicking along quite nicely' here," he said.

He said the retail sector's decline in jobs from 695 in 2008 to 557 in 2011 reflected national trends.

"Retail is struggling, because shopping is moving to the internet," he said.

The report created by the shire's chief executive's office found job numbers had remained stable despite the global financial crisis, natural disasters and high Australian dollar.

Cr Kevin Erwin said the report card could be used to leverage state and federal politicians for funding.

"Everything but the kitchen sink has been thrown at this shire from droughts to floods and fires," he said.

"The Northern Grampians is a great shire for agriculture and mining investment, especially now while the gold price is strong.

"We aren't setting any records, but we're doing as well as we can."