Economic Snapshot 2020 Wagga Wagga
WELCO ME TO THE WAGG A WAGGA ECO N O MIC SNAPSHOT – LO O K ING AT T H E ECONOMI C E NVI RO NM E NT, COMPET 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
Wagga Wagga City Council acknowledges the Wiradjuri people who are the Traditional Custodians of the land and pays respect to Elders both past and present. Wagga Wagga City Council 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 Total labour force in excess of 35,817
Gross Regional Product
Wagga Wagga has reasonable unemployment rates and labour force growth due to diversity of the economy.
Gross Regional Product (GRP) is defined as the total value of goods and services produced in the region over a period of one year. Wagga Wagga’s GRP was $3.85 billion in the year ending June 2019. The strongest growth sectors compared to 2018 were healthcare and social assistance, wholesale trade and manufacturing .
Employment sector Agriculture, forestry + fishing Manufacturing
Industry Value Add Profile
Construction Wholesale trade
Manufacturing
Retail trade
Construction
Accommodation + food services Transport, postal + warehousing Professional, scientific + technical services
Wholesale Trade Retail Trade
Public admin + safety
Transport, Postal + Warehousing
Education + training Health care + social assistance
Financial + Insurance Services
0
5
10
15
20
% total
Source: .id
Professional, Scientific + Technical Services
Population growth forecast
Public Administration + Safety
The NSW Government is forecasting a population of 100,000 by 2038.
Education + Training
70,000 Health Care + Social Assistance
Projected accelerated growth due to significant investment
130,000 0 5 10 % of total value added Wagga Wagga
15
20
120,000 110,000
New South Wales Source: .id
Industry success
100,000
Natural growth
90,000 80,000
Dan Winson, Founder, Zetifi
2050
2046
2048
2044
2042
2040
2036
2038
2034
2032
2030
2028
2024
2026
2022
60,000
2018
“After considering other locations for our operations, we chose Wagga for its; strong labour market, affordable rent, connections to our target market, and close proximity to three capital cities. It was an easy decision for us in the end and we’re growing rapidly as a result.”
2020
70,000
Population age structure 30,000 25,000 20,000
Zetifi is a Wagga-based technology company that solves connectivity problems for people in rural and remote areas. Founder, Dan Winson, has taken the company from product concept to rapid commercial scale-up in just 3 years. Already looking to expand to a larger facility, Dan attributes much of his success to his Wagga upbringing, local connections and the growth opportunities the region provides.
15,000 10,000 5000 0 0-19
20-44
45-64
65+
Source: .id
Skills, knowledge and innovation
Investment
Educated workforce
Recent investments (private)
9.4% 22.6% Bachelor or Higher degree
26.6%
Advanced Diploma or Diploma Certificate III & IV Level 4.3%
37.2%
Certificate I and II Level Other
Source: .id
65%
OF EMPLOYEES HAVE A CERTIFICATE LEVEL QUALIFICATION OR HIGHER over 80% of workforce performing 25hrs+ per week paid employment
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
Building approval values
EDUCATIONAL FACILITIES
f f f f f f f f
Working Spaces HQ CSU Tech Incubator Women in Business Wagga Wagga Business Chamber Business Enterprise Centre Committee 4 Wagga CSU AgriPark TAFE digital courses Source: WWCC
150,000 100,000
Non-residential
Residential
2018-19
2017-18
0
2016-17
50,000
2015-16
Knowledge providers linked to business community providing real solutions and impacts:
200,000
2014-15
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
Innovation
250,000
2013-14
Education providers
preschools
2012-13
primary schools
300,000
34
2011-12
high schools
23
2010-11
9
350,000
2009-10
university campuses
f Wagga Wagga High Productivity Freight Route $52M • 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 f Wagga Wagga Rural Referral Hospital $452M f Kapooka, Army Recruit Training Centre and RAAF $960M (ten-year investment) f Charles Sturt University (CSU) $91M f Riverside Development, Stage 2 $6.7M f Multi-Purpose Stadium $9M f Active Travel Plan, Cycle Path Network $11.7M f Main City Levee Upgrade $23M f Harness Racing Facility $6.8M f Police Youth and Citizens Club (PCYC) $23M f Estella Primary School $36M f Dementia Signature Aged Care Home $25M f Holiday Inn Hotel $37M
2008-09
3
Recent & future investments (public)
Value $(’000)
69
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
Source: WWCC and .id
REGISTERED BUSINESSES
5656
in Wagga Wagga
5435
5417
5525
5473
2014
2015
2016
2017
2018
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
Lifestyle Over 1.37 million people visit Wagga Wagga each year f Over 200,000 annual passengers f 1.5M visitor nights f Overnight visitors to Wagga Wagga spend approximately $411 per trip f Day-trippers spend $180 per day trip f On average over 860,000 day visitors come to Wagga Wagga spending approximately $180 per day trip
Source: WWCC and LPI Source: Tourism Research Australia (TRA)
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. 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.
WAGGA WAGGA HOSTS OVER 560 SPORTING, CULTURAL, BUSINESS + MUSIC EVENTS EACH YEAR Some of our major annual events: f f f f
LOCAL WORKERS WEEKLY INDIVIDUAL INCOME
$0-$499 19% $500-$999 37% $1000-$1499 23%
2016
$1500-$1999 13% $2000+ 9%
f f f f f f f
200%
Median house value
f
Fusion - Multicultural Street Festival Wagga Wagga Gold Cup Carnival Wagga Wagga Food and Wine Festival Gears and Beers - Cycling and Craft Beer & Cider Festival Stone the Crows - Grey Nomad Festival Wagga Wagga Comedy Fest Wagga Wagga Mardi Gras Lost Lanes Wagga Wagga Lake Run and Ride River and Wren Market Wagga Country Club Pro Am classic AFL + NRL matches
$347,728 WAGGA WAGGA
$711,006 SYDNEY OR MELBOURNE
100+ resident medical specialists
93 playgrounds
270%
Median unit value
5700+ health care & social assistance professionals
$249,171 WAGGA WAGGA
$671,543 SYDNEY OR MELBOURNE
110 developed parks
65 sports facilities
13 community centres
34 club & meeting facilities
Infrastructure 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 f Digital Connectivity f Rail f Roads f Electricity f Water
Brisbane Darwin
Perth
Sydney
Adelaide Canberra Melbourne
CAPACITY TO LOAD AND UNLOAD FULL LENGTH TRAINS OF THE CURRENT 1.8KM MAXIMUM LENGTH
Hobart
80ha
PRECINCT FOR BULK, INTERMODAL, AGRICULTURAL AND INDUSTRIAL DEVELOPMENT
50%
OF AUSTRALIAN POPULATION WITHIN A FIVE HOUR DRIVE
COUNCIL HAS DELIVERED OVER $35M 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: Andrea Crossley (02) 6926 9131 crossley.andrea@wagga.nsw.gov.au Dominic Kennedy (02) 6926 9145 kennedy.dominic@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: MARCH 2020 Front cover image: Matt Beaver Infographic icons: www.flaticon.com