RDACWQ Economic Update Q2 2022
26 July, 2022
Following the launch of the RDACWQ Regional Strategic Plan in March 2022, RDACWQ is releasing its first quarterly economic update for the region.
A Message from the Chair:
The most recent economic statistics show that Central and Western Queensland continues to be the powerhouse of the Queensland and Australian economies.
While there are headwinds in the global economy, key indicators show that the region is growing quickly –evidenced by very low unemployment, record high job vacancies a strengthening of the property market and very high (and in some cases record) prices for the region’s key commodities.
This update highlights the importance of continued prosperity in the region’s traditional industries (such as beef, cotton and coal mining and electricity generation) to the region’s overall economic success.
However, it also indicates the need to diversify the region’s economy and the need to continue pursuing other growth opportunities in an operational ADF presence in the region, the connection of Inland Rail to Gladstone, and value adding local agricultural output, such as brining textile manufacturing and mineral processing back from overseas to regional Central and Western Queensland.
I hope this economic update provides confidence to the region’s business community and external investors and proves that Central and Western Queensland are great places to invest.
Grant Cassidy OAM
RDA Central and Western Queensland.