New data shows that, at 7.1%, the Bundaberg Region has the second highest economic growth rate of major Queensland regional centres for the second year in a row.
The data was released by the National Institute of Economic and Industry Research through the Profile ID data platform.
The new data shows Bundaberg was only beaten by the Sunshine Coast which saw its economy grow at 8%.
Last year, Bundaberg was only very narrowly beaten by Rockhampton.
The region is growing faster than South East Queensland (4.5%) and pulling up the average for the Wide Bay which is growing at 6.4%.
Mayor Jack Dempsey welcomed the news which he said was indicative of the positivity and confidence being felt in the area.
“While the number one position has moved twice, the Bundaberg Region has stayed consistent, with strong growth all the time,” Mayor Dempsey said.
“Being consistently near the top spot in regional economic growth shows resilience, diversity, and strength of our economy.
“We are a balanced, stable, and genuine growth economy that has handled the economic head winds of the last few years better than most places.”
He said there were signs of strong economic growth visible within the community.
“We are seeing more and more people move here, along with many of our businesses in the process of expanding.
“All of these factors are contributing to the consistent economic growth figures we are now experiencing.”
Profile ID data reveals the Bundaberg Region’s Gross Regional Product was valued at $5.07 billion in the year ending June 2022.
If Anna would fix paradise dam it would double the growth of the area
Great news, now all the Council has to do is SEAL all the roads and get rid of that horrible grass verg.
Keep dreaming Graham!! Council only likes to build footpaths where no one uses them. I asked our local member of council could put a footpath along Twyford Street between Avoca State School and the roundabout which would make it safer to walk along and join all existing footpaths up, but was told that they do not want to spend the money on that in case the developer that owns the vacant block decides to develop it which council would insist a footpath be put in.
It has sat vacant for 40 years now so I won’t be holding my breath for it to ever happen.