Record Gross Regional Product shows Western Downs is open for business

The Western Downs is open for business, with new figures pointing to a continued growth in economic activity across the region.

Figures released by the National Institute of Economic and Industry Research (NIEIR) point to an increase of 7.3% in the region’s Gross Regional Product in the year ending June 2019, equating to a record $4.45 billion GRP.

Gross Regional Product is a measure of size or net wealth generated within the local economy.

Western Downs Regional Council Mayor Paul McVeigh said the data demonstrated the region’s ‘open for business’ attitude, and the flow on effects of continued investment in the region.

“The Western Downs is at the forefront of new and innovative investment opportunities and it’s great to see this continued activity boosting our local economy and delivering more jobs and prosperity,” Cr McVeigh said.

“Our resources sector continues to deliver strong growth opportunities for the region, as well as construction, which was the region’s largest employer in 2018/19, generating 3,578 local jobs. Agriculture, Forestry and Fishing was the second-largest employer in the region, with nearly 3,000 jobs generated.

“This growth is a strong vote of confidence in our region as a place to live and work, and an encouraging sign for our existing retailers as well as future investors.”

Cr McVeigh said an increased Gross Regional Product meant more local jobs and more opportunities for people to move to the area.

“Our region is home to a range of retailers and service providers who are committed to promoting our region’s open for business attitude,” he said.

“In the leadup to Christmas, it’s particularly important to promote our region’s sustainability, and I encourage residents to explore the region and all the great businesses we have on offer.

“When our businesses are thriving, so too is our wider community, and Council continues to deliver a range of initiatives to boost growth in the local economy.”

For more information about the region’s investment opportunities, visit Council’s website: www.wdrc.qld.gov.au

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