economic indicators - City of Greater Geelong

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INSIDE Page S1 Regional Employment Indicators /06 S2 Residential Property Market /08 S3 Non-Residential Property Market /17 S4 Population Growth /21 S5 Business Profile & Annual Production /29 S6 Education & Training /36 S7 Tourism & Major Events /42 S8 Regional News & Events /44 S9 Glossary & Business Services /49 Please provide your feedback COMPLETE OUR SHORT ONLINE SURVEY BY CLICKING HERE Geelong fast facts Local Government Area Population 2008 Population growth 2008-2026 Population 2026 Growth Rate (%pa) Source: Australian Bureau of Statistics, ‘Estimated Resident Population, June 2008’. Department of Sustainability & Environment, ‘Victoria in Future 2008’. Area (km 2 ) Greater Geelong (C) 211,841 269,653 +1.4% 1,245 Surf Coast (S) 24,442 34,781 +2.0% 1,553 Queenscliffe (B) 3,256 3,349 +0.2% 9 Golden Plains (S) 17,681 24,387 +1.8% 2,704 Colac Otway (S) 21,448 23,116 +0.4% 3,433 Total (Barwon Region) 278,668 355,287 +1.4% 8,944 Victoria 5,313,823 6,711,190 +1.3% 227,590 Industry No. of Employees Major industry sectors % of Workforce Annual Output ($m) Manufacturing 15,505 13.5% $11,456 Retail Trade 14,887 13.0% $1,969 Health Care & Social Services 13,228 11.6% $1,280 Construction 10,249 9.0% $2,393 Education & Training 9,690 8.5% $975 Accommodation 7,562 6.6% $815 & Food Services Ballarat Public Administration Bacchus 6,363 5.6% $749 Marsh & Safety Source: ABS 2006 Census & REMPLAN (Regional Economic Modelling and Planning System). Labourforce (ABS 2006 Census) City of Greater Geelong 91,930 Barwon Region 121,586 Unemployment (ABS 12 month average to June 2009) Barwon Western District 5.0% Victoria 5.1% Journey to Work (ABS 2006 Census) No. of Commuters Barwon Region to Melbourne 11,100 Melbourne to Barwon Region 3,153 Major Employers Employees (FTE) Barwon Health 3,479 Department of Education 2,333 Deakin University (Waurn Ponds & Waterfront) 1,399 Ford Motor Company of Australia Ltd 1,374 City of Greater Geelong 1,357 Avalon Airport (all activities) 1,275 Safeway 1,183 Catholic Education System 1,027 Target Australia (head office & retail) 964 Transport Melbourne Accident Commission (TAC) 763 Airport Alcoa World Alumina Australia Ltd (Vic Operations) 714 Source: City of Greater Geelong FTE – Full Time Equivalent Werribee Bannockburn CORIO BAY Avalon Airport PORT PHILLIP BAY Portarlington gEELONg MELBOURNE St Leonards Colac Anglesea Ocean Grove Barwon Heads Torquay Pt Lonsdale Queenscliff VEHICULAR & PASSENGER FERRY Sorrento aUSTRaLIa Aireys Inlet BASS STRAIT Lorne VICTORIA /2 TWELVE APOSTLES Princetown Apollo Bay Geelong is a place of exciting possibilities. With a positive attitude to investment... Geelong is OPEN FOR BUSINESS.
Geelong, Victoria, Australia Geelong, located 75km south west of Melbourne, is Victoria’s largest regional City. It is part of the Barwon Region, which is vital to the State and National economy with over 20,000 businesses, a highly skilled workforce and comprehensive infrastructure and business support services. Geelong’s key growth sectors include: advanced manufacturing; health; education & research; tourism; information & communication technology (ICT); and food, horticulture & aquaculture. Economic Indicators Summary The Global Financial Crisis created uncertain and difficult circumstances for economies worldwide in 2008/09. As credit tightened and international trade declined, escaping the impact was a difficult task for any community. Overall the Barwon Region recorded mixed results in key economic indicators for 2008/09. Some indicators experienced modest growth and although many declined, they were generally on the back of record highs achieved the previous year. Geelong’s manufacturing sector experienced further restructuring during the year, however the continued diversification of the regional economy helped minimise the extent of the impact felt locally. Geelong’s resilience during one of the most challenging economic periods on record, is testament to the robust nature of the local economy and ongoing confidence in the Region. > The Region experienced an upward movement in the unemployment rate compared to the record lows of 2007/08 (reached 6.5% in June 09). > Total building activity fell from its peak of $1.1b in 2007/08 to $960m in 2008/09 (a drop of 15.4%). > The value of new dwelling approvals dropped by 15.6% to $469m, whilst the value of home renovations increased by 14.0% to $145m. > The value of non-residential building activity contracted by 23.4% to $346m yet is still the second highest figure on record. > Expenditure on commercial, industrial and retail projects dropped by 38.5%, whilst expenditure on health and public buildings increased by 22.7%. > Most municipalities in the Region experienced modest rises in median house prices. > The population grew by 1.6% or 4,412 people to reach 278,668 residents. > The population is expected to reach 355,278 people by 2026, an increase of 31.6%. > Gross Regional Product (GRP) increased to $11.4b in 2009, an increase of $900m since the 2008 estimate (basic prices without adjustment for CPI). regional highlights 2008/09 summary > Trade through the Geelong Port slowed to 10.4m tonnes (imports dropped by 7.0% however exports grew by 2.7%). > The Region attracted 4.3m domestic daytrip visitors, up by 11.9% on the previous year. Regional News Summary Continued investor interest in the Region combined with a large amount of public sector spending, also helped minimise the impact of the challenging global economic conditions. Following is a snapshot of some of the major project announcements during 2008/09: > The $380m Geelong Ring Road (from Corio to Waurn Ponds) officially opened. Construction started on the $125m Section 4a and planning commenced on the $45m section 4b. > The $200m redevelopment of Westfield Geelong was completed. > The Transport Accident Commission (TAC) opened its $100m headquarters in Geelong. > The $100m WaterMarque apartment complex in Geelong was approved. > Barwon Water started construction on a $76m bio-solids drying facility at Black Rock and the $70m Anglesea Borefield. > The $60m Edgewater residential/retail development along Waterfront Geelong was completed. > Plans were unveiled for a $50m expansion of the Waurn Ponds Shopping Centre. > Deakin University opened the $37m extension of its Waterfront campus. > Construction started on the $35m redevelopment of Queenscliff Harbour. > Construction started on the $30m Geelong Private Medical Centre adjacent to Geelong Private Hospital. > The Geelong Football Club started work on the $28m refurbishment of Skilled Stadium. > Barwon Health’s $26m Emergency Department upgrade was completed. > The second-round of successful applicants for the Geelong Innovation and Investment Fund (GIIF) were announced ($21m worth of investment and 326 jobs are expected to be created). > The rezoning of land for the Armstrong Creek Urban Growth Area was approved (expected to accommodate 54,000 people over the next 25 years). For updates on regional economic indicators beyond 2008/09 visit: www.geelongaustralia.com.au/business /3 economic indicators bulletin 2008/09 - CITY OF GREATER GEELONG FAST FACTS & REGIONAL HIGHLIGHTS
Page 1: 2008/09 geelong: open for business
Page 5 and 6: TABLE 1: Key Economic Indicators fo
Page 7 and 8: GRAPH 1: Monthly Unemployment Rate
Page 9 and 10: TABLE 1: Total Residential Building
Page 11 and 12: TABLE 2: New Residential Dwelling A
Page 13 and 14: RESIDENTIAL property SALEs & Median
Page 15 and 16: TABLE 4: Median House Prices, Barwo
Page 17 and 18: S3 Non-Residential Property Market
Page 19 and 20: non-residential building activity a
Page 21 and 22: S4 Population GROWTH Golden Plains
Page 23 and 24: TABLE 2: Estimated Resident Populat
Page 25 and 26: TABLE 5: Demography of the Barwon R
Page 27 and 28: Colac Otway - North Golden Plains -
Page 29 and 30: S5 Business Profile & Annual Produc
Page 31 and 32: TABLE 3: Selected Major Employers,
Page 33 and 34: Annual Regional PRODUCTION Gross Re
Page 35 and 36: TABLE 4: gross regional product, ba
Page 37 and 38: TABLE 1: Student enrolments 2009 Sc
Page 39 and 40: TABLE 5: Apprenticeships and Traine
Page 41 and 42: Deakin University had a number of m
Page 43 and 44: TABLE 1: Peak overnight population
Page 45 and 46: February 2009 > Geelong Lutheran Sc
Page 47 and 48: ASSET & RESIDENTIAL DEVELOPMENT Jul
Page 49 and 50: S5 s9 glossary & Business Services
Page 51 and 52: s9 Business Services & Useful websi

economic indicators - City of Greater Geelong

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