E CO NO M I C S NA P S H OT WAGGA WAGGA 2 0 18
W ELCO ME TO THE WAGG A WAGGA ECO N O MIC SNAPSHOT – LO O K ING AT TH E ECONOMI C E NVI RO NM E NT, CO M P ET IV E NE SS AND OP PO RTUNITIE S . Wagga Wagga is the economic hub and regional capital of New South Wales, offering strong competitive economic conditions and allowing businesses to flourish. The city hosts a large, growing, modern and diverse economy serving not only the 65,000 residents, but also the wider regional catchment of 190,000 people. Located at the mid-point between Sydney and Melbourne, Wagga Wagga offers businesses cost-effective connectivity to other businesses located in major city economies. With lower living and business operational costs, the city offers a highly competitive financial environment. Knowledge providers such as Charles Sturt University and TAFE NSW support the highly skilled labour force across a diverse range of sectors. A creative, innovative and ideas driven labour force has resulted in the creation of new businesses, increased entrepreneurial activity, and allowed existing businesses to embrace new innovative technologies. The labour force offers an opportunity to boost collaboration, productivity, efficiency, and firm level competitiveness. The Wagga Wagga economy has grown strongly over recent years and these positive trends are expected to continue into the future. Strong pipelines of private and public investment will further enhance economic and population growth in the future, supporting the linked retail, services and construction sectors.
statement of commitment to aboriginal australians
The City of Wagga Wagga acknowledges the Wiradjuri people who are the Traditional Custodians of the land and pays respect to Elders both past and present. The City of Wagga Wagga values the diversity of our local community and supports reconciliation by working consistently in partnership with the local Aboriginal and Torres Strait Islander community, always ensuring that this process is based on respect, trust and a spirit of openness.
economic success
people
GROSS REGIONAL PRODUCT f Gross Regional Product (GRP) is defined as the total value of goods and services produced in the region over a period of one year. f Wagga Wagga’s GRP was $3.7 billion in the year ending June 2017. The strongest growth sectors compared to 2015/16 were agriculture, forestry & fishing (24.4%), healthcare and social assistance (11.7%) and manufacturing (9.3%).
T O TA L LABOUR FORCE IN EXCESS OF
32,000
Wagga Wagga has reasonable unemployment rates and labour force growth due to diversity of the economy.
15
Employment sector % total
12
industr y value add profile
Wholesale
Agriculture
Logistics
Manufacturing
Accomm and services
Construction
0
Construction
Education
3
Education + training
Public admin
6
Health care + social assistance
Retail trade
Health care and social
9
Public administration + safety
Source: .id
Manufacturing
2017 Unemployment comparison
Retail trade Financial + insurance services Transport, postal + warehousing
5.5%
5.4%
4.9%
5.7%
AUSTRALIA
REGIONAL NSW
NSW
WAGGA WAGGA
Wholesale trade Electricity, gas, water + waste services 0
5
10
15
20
% of total value added Wagga Wagga
New South Wales Source: .id
P O P U L AT I O N G ROW T H F ORECAS T Wagga Wagga’s population forecast for 2018 is 66,635, and is projected to grow by 21.53% by 2036, with an additional 6500 new households.
industry success Commissioned in 2012, ROBE is Australia’s only Certified Non GM Canola Oil manufacturing plant. DD Saxena, Founder and Manager Director, was looking for somewhere to establish a 500 tonne (per day) oilseed crushing and refining plant. After researching suitable sites, he made the decision to establish in Bomen, Wagga Wagga, due to its strategic location in the agricultural hub of the Riverina, available manpower and access to good quality raw material.
...my ambition is to see if we can take this company to $500 million and probably a $1 billion market cap and make it among the top five food ASX [Australian Stock Exchange] companies. DD Saxena, Founder & Managing Director, ROBE
A project of state significance in NSW with capital investment of $150M, ROBE is now also one of the largest value added food/agricultural investments in Australia over the last 10 years, exporting to India, USA, New Zealand and South-East Asia.
80,984 77,439
69,523 66,635
64,084
2016
73,809
2018
2021
2026
2031
2036
Population age structure 30,000 25,000 20,000 15,000 10,000 5000 0
1991 0-19
2016 20-44
45-64
2036 65+
Source: .id
skills, knowledge and innovation WA G G A WA G G A H A S A N E D U C AT E D WORKFORCE
9.4% 22.6%
Bachelor or Higher degree
26.6%
Advanced Diploma or Diploma Certificate III & IV Level 4.3%
Certificate I and II Level Other
Source: .id
RECENT & FUTURE INVESTMENTS (PUBLIC) f Wagga Wagga High Productivity Freight Route - $52M
OF EMPLOYEES HAVE A CERTIFICATE LEVEL QUALIFICATION OR HIGHER
64%
RESIDENTS WORK FULL-TIME
Education & training Wagga is a key educational hub enabling access to quality education and training across the full spectrum of learning and supporting a high-skilled labour force.
Source: WWCC
200,000 150,000 100,000 50,000
Non-residential
2017-18
0
Jan FYTD
f Working space HQ/ Hubb Hubb f Australia Post Pitch Fest f CSU Tech Incubator f Women in Business f Wagga Wagga Business Chamber f Committee 4 Wagga f CBA Pop-Up Lab f CSU AgriPark f TAFE digital courses f Tech-enabled businesses f Innovative businesses
250,000
2016-17
Knowledge providers linked to business community providing real solutions and impacts:
300,000
2015-16
INNOVATION
residential + non-residential 350,000
2014-15
23 34 PRE PRIMARY SCHOOLS SCHOOLS
BUILDING APPROVAL VALUES
2013-14
EDUCATIONAL FACILITIES
2012-13
f Charles Sturt University f TAFE NSW Riverina Institute, including apprenticeship support f University of New South Wales f University of Notre Dame f Australian Airline Pilot Academy f Royal Australian Air Force Base f Army Recruit Training Centre f Riverina Community College
Source: WWCC
2011-12
EDUCATION PROVIDERS
f f f f f f f f
2010-11
9 HIGH SCHOOLS
f f
2009-10
68
RIFL Hub, Stage 1: Bomen Enabling Roads - $35M Eunony Bridge upgrade - $9.8M Byrnes Road Reconstrution - $868K + $1M Eunony Bridge Road Deviation & Oura Road Roundabout - $5.5M Wagga Wagga Rural Referral Hospital - $452M Kapooka, Army Recruit Training Centre and RAAF $960M (ten-year investment) Charles Sturt University (CSU) $91M Riverside Development, Stage 2 - $6.7M Multi-Purpose Stadium - $9M Active Travel Plan, Cycle Path Network - $11.7M Main City Levee Upgrade - $23M Harness Racing Facility - $6.8M Police Youth and Citizens Club (PCYC) - $15M Estella Primary School - $36M
• • • •
2008-09
OVER 80% OF WORKFORCE PERFORMING 25HRS+ PER WEEK PAID EMPLOYMENT
2 TERTIARY
f The Mill - apartments, retail, café, resturants, accommodation - $25.4M f Australian Clay Target Association, Conference Centre - $5.5M f Marketplace - $15M f Morgan Street Office Builiding – Stage One - $17M f Calvary Hospital - $7M f Docker Street Medical Centre - $8M
2007-08
65%
RECENT INVESTMENTS (PRIVATE)
Value $(’000)
37.2%
investment
Residential
Source: WWCC and .id
REGISTERED BUSINESSES in Wagga Wagga
5435
5417
5525
5473
2014
2015
2016
2017
business environment & costs industrial land cost comparison INDUSTRIAL ZONED LAND IN BOMEN, WAGGA WAGGA IS APPROXIMATELY
one tenth THE COST OF AN EQUIVALENT BLOCK IN WESTERN SYDNEY
WAGGA WAGGA
SYDNEY Source: WWCC and LPI
lifestyle Over 1.3 million people visit Wagga Wagga each year f 220,000 annual passengers f Over 140 regular weekly passenger transport flights (Sydney and Melbourne) f In 2017, overnight visitors increased by 36% to 1.476M visitor nights f Overnight visitors to Wagga Wagga spend approximately $355.00 per day and stay an average of three nights f On average over 860,000 day visitors come to Wagga Wagga spending approximately $168 per day trip
Wagga Wagga is the largest retail, commercial, administrative and population centre in the Riverina region and provides a wide range of services and infrastructure, servicing a retail catchment area of approximately 190,000 people.
Source: Tourism Research Australia (TRA), WWCC and .id.
WAGGA WAGGA HOSTS OVER 650 SPORTING, CULTURAL, BUSINESS + MUSIC EVENTS EACH YEAR
As a result of this wide-reaching catchment the city has a strong retail sector, representing a significant component of the economy with nine shopping districts employing over 3700 people.
Some of our major annual events:
LOCAL WORKERS WEEKLY INDIVIDUAL INCOME
$0-$499 19% $500-$999 37% $1000-$1499 23%
2016
$1500-$1999 13% $2000+ 9%
200%
Median house value
$347,728
$711,006
WAGGA WAGGA
NEW SOUTH WALES
f Fusion - Multicultural Street Festival f Wagga Wagga Gold Cup - Racing Carnival f Wagga Skyworks New Years Eve Celebrations f Food and Wine Festival f Gears and Beers - Cycling and Craft Beer & Cider Festival f Stone the Crows - Grey Nomad Festival f Wagga Wagga Comedy Fest f Lost Lanes f Cork & Fork Festival f Wagga Wagga Trail Marathon
100+ resident medical specialists
93 playgrounds
270%
Median unit value
1401 midwifery, nursing + medical practitioners
$249,171
$671,543
WAGGA WAGGA
NEW SOUTH WALES
110 developed parks
65 sports facilities
13 community centres
34 club & meeting facilities
connectivity Wagga Wagga is a highly accessible city through its connectivity with Australia’s major cities including Sydney, Melbourne, Adelaide and Canberra. Excellent road, rail and air connections make the city a strategic centre for interstate transport, with the potential to be further enhanced by the proposed inland rail route connecting Melbourne and Brisbane via regional New South Wales and Queensland. Export and import trade to and from the city is set to increase, facilitated by an excellent location on the nation’s main rail freight corridor and the proposed Riverina Intermodal Freight and Logistics (RIFL) hub. The RIFL hub is a key economic development project for the region and has the potential to become a transformative piece of infrastructure, providing significant and long lasting benefit to current and future industry/businesses, including the following: f Reduce supply chain costs f Build infrastructure that integrates with existing transport networks f Improve infrastructure and safety f Create jobs f Build capacity for future growth f Be an economic enabler for the Riverina Region
CAPACITY TO LOAD AND UNLOAD FULL LENGTH TRAINS OF THE CURRENT 1.8KM MAXIMUM LENGTH
80ha
PRECINCT FOR BULK, INTERMODAL, AGRICULTURAL AND INDUSTRIAL DEVELOPMENT
75%
OF AUSTRALIAN POPULATION WITHIN A FIVE HOUR DRIVE
COUNCIL HAS DELIVERED OVER $30M OF WORK ON THE ENABLING ROADS TO PROVIDE SAFER AND BET TER ACCESS FOR HEAVY VEHICLES BETWEEN BOMEN AND THE NEARBY HIGHWAYS.
CONTACT US For more information or to discuss the opportunities in Wagga Wagga, please contact our Economic Development Team Phone: 02 6926 9145 or 02 6926 9131 Email: business@wagga.nsw.gov.au
www.wagga.nsw.gov.au
Source: WWCC
Information provided in this document has been compiled using sources including Council records, ABS, ID, Department of Employment, LPI, NSW Health, TRA and Destination NSW. If you have any questions regarding information contained in this document please contact Wagga Wagga City Council on 6926 9100.
ISSUED: 2018 Front cover image: Adobe Stock Infographic icons: www.flaticon.com