By Matthew Pearce
Rockhampton’s economy is thriving.
Figures released from the National Institute of Economic and Industry Research show the Gross Regional Product (GRP) for Rockhampton is the strongest it has ever been, increasing to $5.71 billion in the past year.
GRP refers to the amount of wealth generated in the region – in this case, the Rockhampton Regional Council footprint.
Industries driving the growth are health care, mining and agriculture, with construction and manufacturing also playing a major role.
The number of registered businesses in Rockhampton is also at an all-time high with about 6000 businesses registered.
Rockhampton Region Mayor Tony Williams said Rockhampton had seen phenomenal growth over the past two years, with projects like the Alliance Airlines Maintenance Facility, Mount Morgan mine rehabilitation, Rockhampton Railyards development, Fitzroy to Gladstone Pipeline and Rockhampton Ring Road either underway or set to start.
“In real terms, that means about 450 jobs locally, so the benefits of these projects are really starting to come through and pay dividends,” he said.
“There has been a huge investment in a number of major projects in Central Queensland in recent years, which really lifts the smaller projects.”
The 2022 figure of $5.71 billion follows GRP of $5.66 billion in 2021.
In 2010, the region’s GRP was $4.98 billion.
The region has seen growth of $279 million (4.8 per cent) since 2020, compared to $240 million in growth for 2012 to 2020, with those years seeing the impact of Covid and council’s regionalisation.
Cr William said upcoming projects looked set to continue the upward growth, including the 36,000 head Mort & Co Feedlot at Gogango, which is expected to generate 66 jobs, and Rural Funds Management’s macadamia orchard plans, thanks to water sourced from the Rookwood Weir, which will eventually see one million trees planted along the Fitzroy River and a processing facility established.
The council is also working on the transition to renewables and collaborating with neighbouring councils to push for a permanent military presence in the region.
Cr Williams said the promotional work of the council’s economic development unit Advance Rockhampton had put Rockhampton on the radar across Australia.