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


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


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


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


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


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


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

Series1

economic development newsletter dec 2011

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