IN THE DRIVER'S SEAT: Construction, manufacturing (CPM Engineering owner Jason McPherson pictured) and agriculture are the big contributors to the Gympie region's economy, which last year outpaced the state's major metropolitan areas.
IN THE DRIVER'S SEAT: Construction, manufacturing (CPM Engineering owner Jason McPherson pictured) and agriculture are the big contributors to the Gympie region's economy, which last year outpaced the state's major metropolitan areas. Renee Albrecht

Gympie's economic growth surges, closes gap on Sunny Coast

GYMPIE'S economy is surging, with new data showing the region's growth in the past year has outpaced the state's biggest cities.

According to data compiled by SGS Economics and Planning for their Economic Performance of Australia's Cities and Regions report, in the past year the Gympie region's GDP grew by 3.6 per cent, out-performing the Sunshine Coast (3.3 per cent), the Gold Coast (3.2) and Brisbane (3.4).

The Gympie region's economic growth over the past five years has been 2.2 per cent.

This was higher than that of the Sunshine Coast, Gold Coast, Townsville, Cairns, Rockhampton and Mackay.

SGS's report is not the only data set to trumpet the region's growth.

Construction has made a huge mark on the Gympie economy again.
Construction has made a huge mark on the Gympie economy again. Contributed

Economy ID, which uses data from the National Institute of Economic and Industry Research, puts the region's GRP at $2.17 billion in 2018, up 2.5 per cent.

It is the third year of growth in a row, coming after 2.8 per cent in 2017 and 5 per cent in 2016.

Manufacturing was the region's biggest industry, generating $223 million in 2017-18. But the industry with the biggest growth was mining.

It's productivity grew $73 million, to sit at $191 million for the year.

A surge in mining exports of $154 million, bringing the year's total to $316 million, was a big driver.

Despite a drop, agriculture has continued to be a big shaker in the region's economy.
Despite a drop, agriculture has continued to be a big shaker in the region's economy. Rowan Schindler

CPM Engineering owner Jason McPherson said more fabrication companies were choosing to have their work done on the east coast.

He said the release of mining leases, rising oil prices and gas forecasts was also driving demand.

"The Adani mine finally moving will also attract demand on employment,” he said.

This, along with possible movement in the Surat basin, only meant good news for employment.

"From what I'm hearing it will be another wave of demand that may last three years.”

Mayor Mick Curran said the figures showed the region's future is now.

"Some people are saying we're going into the boom times; the fact is we're in them now.”

He said the growing development applications, building approvals, and the reinvestment by big business in the region highlighted the region's success.

"It's not all doom and gloom. It's good news,” he said.

Gympie Times


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