Economic Development Newsletter Dec 2011
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Transcript of Economic Development Newsletter Dec 2011
…...ECONOMIC PROFILE | SEPTEMBER 2011
REGIONAL ECONOMY
Statistic Period Indicator % Av.
Annual
Change
Population Griffith 2010 25847 +0.87%
Population growth 2010 925 8.4%
Labour Force (no) March 2011 13,496
Unemployment rate % March 2011 6.6% 1.5%
Gross Regional Product
($M)
June 2010 $1807 Million 705%
Key Industry Sectors
GRP
Economy id
2010
Manufacturing June 2010 $281 Million -$89
Million
Agriculture June 2010 $294 Million 30%
Retail Trade June 2010 $86 Million -8%
Housing Affordability
House (3 bed) 2011 Dept
Housing
$240 p.w. 1.6%
Unit (2 bed) 2011 Dept
Housing
$180 p.w. 4.1%
Average Monthly Home
Loan Repayments Af-
fordability Index (houses)
2006 ABS $950 - $1199 p
month
Individual Income
(Taxable)
2006 ABS $400-$599 p w
1000+ pw
Median household in-
come per week
2006 ABS $1000 – 1199
pw
Growth last 12 months
Employers who re-
cruited
April 2011
DEEWR
60%
Financial & Insurance June 2010 $189 Million 111%
Transport Postal Ware-
housing
June 2010 $144 64%
Wholesale trade June 2010 111 Million 16%
Education & training June 2010 $104 Million 19%
Regional Economy The size of our regional economy is at
$1807 Million up from 2009 by $131
million or 7.5%.
Sectors of Growth
Transport, Postal & Warehousing at
64%, Financial & Insurance 111%
growth, Public Administration &
Safety, Education & Training….
Industries which have lost ground are;
Manufacturing, Construction, Health
Care & Social Assistance, Electricity,
Gas and Water and Waste Services and
Retail Trade.
The local GRP per worker in the
Western Riverina region is $69,852
compared with the state of 83,602 per
worker.
About this newsletter This newsletter provides an economic snapshot
of our area, providing the most up to date
information available from credible sources such
as ABS, informed decisions, SKM, NSW
Government Housing, Land & Property
Management Authority and DEEWR
Regional Gross Value
Find out about our Regional Gross Product,
Median house prices compared with other
regional centres and how well our City is doing
BRONZEWING CARTRIDGES
An exciting new development has been given
the approval after appearing before the
Regional Joint Planning Panel in Griffith
recently.
Providing up to 3 jobs initially, Bronzewing
Cartridges will at full production employ up to
10 staff.
The brainchild of Marcello Casella, the
development will provide shotgun cartridges to
domestic markets as well as export markets
such as the US, Canada, New Zealand and
South Pacific.
Based in Yenda, the operation will essentially
be a componentry assembly and packaging
point, producing up to 10 million cartridges a
year. Many of the components will be sourced
externally and on site storage will be limited to
250,000 cartridges at any one time.
At a time when many investors are laying low,
it shows that Bronzewing Cartridges has
confidence in the region.
Chairman of the Economic Development
Steering Committee Dom Testoni believes that
Bronzewing Cartridges is a great development
for Yenda and for the City of Griffith, providing
employment opportunities as well as a new
industry which is not reliant on water.
“Griffith City Council worked closely with
Bronzewing Cartridges on this development,
particularly our Economic Development unit
who assisted the company through the
planning process,” said Cr Testoni, “It’s exciting
to see Bronzewing Cartridges get the approval
and it will be all systems go at the Yenda site I
believe.”
Bronzewing Cartridges will be ready for
operation in the next few weeks with a number
of screenings erected, increased security of the
site along with work on internal roads and
installation of the magazine (which resembles a
safe).
Photo: Loading & Packing machine at
Bronzewing Cartridges, image supplied.
ECONOMIC
PROFILE
SEPT 6 2011
New home for Rural Fire Authority
Construction is about to commence on the
new MIA Zone Rural Fire Authority
headquarters in Wakaden street.
The $1 million development will be a massive
improvement on the current premises the
Authority is operating from in Jensen Road
and will have a larger street presence.
The facility will provide the service with
modern resources and will assist them to
manage and direct the 39 brigades across the
region.
The new facility will provide capacity for
training up to 60 personnel at one time as well
as the latest equipment including a dedicated
operations room.
The drought had a significant impact on
our region reducing the value of
Agricultural output by over 35 million
between 2000-2001 and 2005-2006 and
over $120 million between 2005-2006
and 2009-2010.
Despite this our region has managed to
continue to produce valuable
commodities and contribute to the NSW
and the nations economy.
During 2005-2006 our Regional gross
value of Agricultural production was
approximately $840 million, of which
$435 million was from various forms of
irrigated agriculture (ABS 2006)..
Agriculture, food and beverage
production and directly-related services
(services to agriculture, water) added
over $734 million in value of
production, which was 38% of the total
value added to production within the
region (AEC 2010)
In 2005-06 the value of services
provided to agriculture (eg fertilizer
spreading, crop spraying, irrigation
services, shearing) was $69 million.
Food and beverage manufacturing in
the region generated a greater value of
production ($1,041 million in 05-06)
than the gross value of agriculture
production. Almost 40% of this was
from wine production and 30% was
from meat and meat products.
Sectors of the regional economy not
directly involved in agriculture or food
and beverage production are significant
and generate 65% of its value added
production. Major sectors are;
wholesale and retail trade which in
2009-10 collectively added almost $230
million in value and ownership of
dwellings.
Education, health, construction and
government administration sectors
exceeded $60 million in each sector
with a total value of almost $280
million.
Regional Gross Value
…...ECONOMIC PROFILE | SEPTEMBER 2011
Population growth
Griffith $1,051.40 Million Carrathool $154.30 M
Leeton $418.30 Million Murrumbidgee $83.50M
Narrandera $220.60 Million Total $1928.10 M
………………………………………………...
Griffith is the third fastest growing city in
Riverina Cities after Albury and Wagga,
with a strong growth rate of 8.4%.
Griffith City is expected to attract
families over the forecast period. As a
result of this there is ongoing demand
for residential expansion within the LGA
from both existing residents and from
people moving to the area. It is assumed
that a number of these patterns will
continue into the future, most notably
flows into the City from overseas and
from surrounding rural areas as well as
loss of young people to larger centres,
albeit in lower numbers.
Source: Forecast id www.griffith.nsw.gov.au Developing Griffith, Community Profile
Gross Regional Product GRP 05/06
Source: SKM Consultants 2011
…...ECONOMIC PROFILE | SEPTEMBER 2011
FUTURE EMPLOYMENT GROWTH AREAS
REGIONAL CITY PARK
Tourism Riverina Regional Tourism Profiles in 2009/10
$479 million was spent by visitors in the region – 62% was by domestic
overnight visitors
A total of 2.3 million visitors went to the region – 57% were domestic day
visitors
2.5 million nights were spent in the region – 85% were by domestic overnight
visitors
Griffith received its share of visitors within this period, featuring in the top 3
Local Government areas for the region.
Top 3 Local Government Areas Visited include Wagga, Griffith & Deniliquin with
Domestic overnight visitors at 33 for Wagga, 112 for Griffith and 80 for
Deniliquin. The average stay for visitors was 2.3%
The $1.8 million dollar Regional City Park has
commenced and will feature one of the largest climbing
frames in Australia. The Park is expected to be complete
by December and there are opportunities for families,
community members and business houses to get
involved in sponsorship, call Council on 69628 100 for
more information.
The migration flows depicted above do not represent future or forecast migration flows. The
arrows represent migration flows to the LGA/SLA as a whole and do not indicate an origin or
destination for any specific localities within the LGA/SLA.
Source: Economy id www.griffith.nsw.gov.au Developing Griffith, Community Profile
…...ECONOMIC PROFILE | SEPTEMBER 2011
Riverina Citrus production
Agricultural Production
Wine grape &
citrus tonnages
0
100000
200000
300000
400000
500000
600000
700000
Navels Valencias Total
2011/ 2012
2010/ 2011
2009/ 2010
2008/ 2009
Year
0
50,000
100,000
150,000
200,000
250,000
300,000
350,000
Wine Grapes Marketing Board grape production 1930-2011…
……………………………………………………….
Source: Economy id www.griffith.nsw.gov.au Developing Griffith, Community Profile
Source: Riverina Citrus & Wine Grape Marketing Board
…...ECONOMIC PROFILE | SEPTEMBER 2011
The number of building approvals
are driven by the activity in the
construction industry and fluctuates
from year to year.
These fluctuations are a result of the
short term nature of many
construction projects and the cyclic
nature of the industry.
Building activity depends on many
factors – interest rates, availability
of mortgage funds, government
spending and business investment
that vary with the state of the
economy.
The introduction of the GST in 2000
shows a spike in activity prior to
2000 and a sharp decline after the
tax was introduced.
Median House Sales March 2011 • Griffith $255,000
• Albury $250,000
• Wagga $290,000.
Single Dwelling sites March 2011 • Griffith $90,000
• Albury $80,400
• Wagga $112,000
Median rent June 2011 (4 bed house) • Griffith $350 p.w.
• Albury $350 p.w.
• Wagga $373 p.w.
Source: NSW Government Family &
Community Services, Housing NSW
Building Approvals
Source: Griffith City Council
0
10,000,000
20,000,000
30,000,000
40,000,000
50,000,000
60,000,000
70,000,000
Residential Commercial Subdivision JRRP Total
2009-2010
2010-2011
Value of DA Applications 09-10 & 10-11
…...ECONOMIC PROFILE | SEPTEMBER 2011
Employment
EMPLOYMENT BY INDUSTRY
LABOUR FORCE STATUS
Educational
Attainment by Labour
Force Status
The three most popular occupations in Griffith in 2006 (ABS
census) were;
• Managers (2,092 persons or 18.9%)
• Labourers (1,962 persons or 17.7%)
• Technicians and Trades Workers (1,575 persons or 14.2%)
In combination these three occupations accounted for 5,629
people in total or 50.8% of the employed resident population.
Educational Attainment Source: DEEWR 2011
Industry employment growth in the 5
years leading to February 2011 saw the
accommodation and food services
industry and health care and social
assistance industry in the area with the
largest industry employment growth
increasing from 4,100 to 4,200 in the
region..
The number of students enrolled at
Riverina Institute TAFE—Griffith
Campus has grown with a 5%
increase in course enrolments for
Diploma and above in 2010, a 7%
increase in Certificate IV and
equivalent, a 17% increase in
certificate III and equivalent, 15%
increase in certificate II and 30%
increase in Statement of
attainment.
Course enrolments soar
Retail & Small
Industrial Sites
…...ECONOMIC PROFILE | SEPTEMBER 2011
RETAIL & INDUSTRIAL SITES
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
1,400,000
Griffith
Dubbo
Orange
Wagga
State Ave
Median prices for rental shop sites 2010
Small Industrial land values Source: NSW Government Land & Property Management Authority.
Median prices for retail shop sites
again varied over the past 14 years,
however frontages also varied
making it difficult to compare apples
to apples…
For Griffith a standard 9.1m frontage
retail site in 2009 was $481,000 with
a slight decrease in 2010 of $433,000.
Wagga fared better with a standard
8m frontage in 2009 and 2010 at
1,250,000.
Compared with other centres such as
Dubbo and Orange, Griffith fared
reasonably well for a regionally
focussed retail hub with Dubbo at
$205,000 in 2010 and Orange at
$206,000.
$0 $500,000 $1,000,000 $1,500,000
Grif f ith
Dubbo
Orange
Wagga
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