Economic snapshot captures Scenic Rim’s strong growth
The latest from Scenic Rim Regional Council:
The Scenic Rim economy continued to power ahead in 2021-2022 with a 9.81 per cent increase in Gross Regional Product for the financial year almost double Queensland’s 4.99 per cent growth statewide.
Tabled at today’s Ordinary Meeting, Council’s Scenic Rim Economic Snapshot highlights the region’s strong economic growth and the role local industries are playing in providing valuable jobs for locals and contributing to the Scenic Rim’s $2.09 billion economy.
Figures for 2021-2022 recently made available by the National Institute of Economic Research highlighted the Scenic Rim’s strong performance in terms of jobs growth, investment as measured through the value of building approvals and Gross Regional Product.
Mayor Greg Christensen said the snapshot reflects the achievements of the Scenic Rim Regional Prosperity Strategy 2020-2025 as a roadmap providing a clear direction for supporting the region’s business community and welcoming new businesses that create employment opportunities.
“Increased investment confidence in the Scenic Rim was highlighted by the $182 million in building approvals in 2021-2022, the highest since the region’s peak in 2016-2017,” Mayor Christensen said.
“Almost 200 new businesses in the Scenic Rim were registered for GST in 2021-2022 period, leading to increased economic growth and the creation of further employment opportunities.
“During the past five years, more than 1700 locals jobs have been created, with an increase of more than 820 net jobs during 2021-2022.
“At 5.4 per cent, the region’s unemployment rate was slightly above Queensland’s overall at 4.5 per cent. However, with strong employment growth in health care and social assistance, education, training and agriculture moving forward, this will decline as seen in the December 2022 figures for unemployment at 4.8 per cent.”
The Scenic Rim’s 9.81 per cent growth in Gross Regional Product has been driven predominantly by the agriculture, construction, professional, scientific and technical services industries, with an increasing number of professionals attracted by the region’s lifestyle.
Division 4 Councillor Michael Enright said he was pleased to see the creation of 827 additional jobs and that the Scenic Rim’s Gross Regional Product is now over two billion dollars.
“It’s also wonderful to see that agriculture has been growing significantly and that agriculture, forestry and fishing are still the strongest industry while healthcare and social assistance provides the most jobs – over 2000.
“There has been some very strong growth which is testament to the businesses in our region and also to the support that is given through Council following on the pillars of the regional prosperity strategy.”
Mayor Christensen said that while supply chain constraints, labour shortages and housing affordability presented challenges, the Scenic Rim presented a wealth of opportunities for future growth and development through the expansion of large-scale industries and major infrastructure projects such as the Beaudesert Enterprise Precinct.
“The Scenic Rim is well placed to take advantage of increased international and domestic tourism and benefits from structural changes in the economy,” he said.
“As trade conditions continue to improve and we see a return to pre-COVID-19 conditions, our region’s $38.9 million in international exports will continue to strengthen.”
For the full detail of the Scenic Rim Regional Council Economic Snapshot 2021 – 2022 visit https://www.scenicrim.qld.gov.au/rps.
