New GRP Figures Highlight Toowoomba Region’s Stellar Growth

a 6.2% boost to its regional economy

New GRP Figures Highlight Toowoomba Region’s Stellar Growth

The Toowoomba Region recorded a 6.2% boost to its regional economy, which saw the Gross Regional Product (GRP) break the $10 billion mark for the first time in the year ended June 30, 2017, according to new research.

Toowoomba Region Mayor Paul Antonio has welcomed the latest figures based on Census and other industry and government data.

Mayor Antonio, who chairs Toowoomba Regional Council’s Economic Development committee, said the multitude of infrastructure and related projects under construction had pushed the region’s GRP to $10.48 billion (for the year to June 30, 2017).

“The latest yearly figures equate to regional economic growth of 6.2%. This far exceeds national and state economic growth of 2.4% and a rise of 2.9% across regional Queensland,” Mayor Antonio said.

“It is also pleasing to note that the figures show a continuing upward trend. Remarkably, our average growth over the past 10 years is around 3.6% per year, which also exceeds the state average of 2.1%.”

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