Economic Development News Single

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$1 Billion in investment and 1500 new jobs for our region!

 

Our region is open for business with a major regional business report identifying significant opportunities within the Murraylands and Riverland Region.

More than $1 billion in business and infrastructure investment is planned for South Australia’s Murraylands and Riverland over the next four years, according to a major regional business report.

The Regional Development Australia Murraylands and Riverland (RDAMR) report has also revealed that more than 1500 new jobs will be created in the region.

The RDAMR surveyed more than 160 local businesses for its Jobs, Growth and Investment 2016-2020 report across all industries including food manufacturing, agriculture, retail, manufacturing, accommodation and food services, construction and health care. Eight Councils and six business associations were also surveyed.

Key results include:

  • Strong capital investment forecasts of at least $124 million in business investment and $1.022 billion in infrastructure development (primarily wind and solar farms) in the region.
  • Almost $50 million in planned tourism redevelopments and upgrades (excluding the SA Motorsports Park investment in Tailem Bend).
  • Retail development proposals in the region exceeding $14 million.
  • Planned business capital investment is across small and large projects. The largest number of investments are under $100,000, however 10 businesses reported more than $1 million over the next four years.
  • More than half – 59% – of surveyed businesses are planning to grow. These businesses expect to create 1531 new jobs over the next four years.
  • While larger businesses are in growth mode, 40% of businesses with less than five employees are also expected to hire more staff.
  • Of businesses surveyed, 41% export out of the state and 17% export overseas, with agriculture and manufacturing being the largest exporters.

The Murraylands and Riverland is home to 69,000 people representing 4% of South Australia’s population.

Agriculture is the most important economic sector in the region by size (representing 25% of SA’s agricultural gross regional product) followed by health and community services, retail trade and other services.

“The RDAMR survey reveals an overwhelmingly positive outlook for the Murraylands and Riverland through planned business and infrastructure investment and job creation,” RDAMR Chief Executive Officer, Ms Jo Podoliak, said.

“Our interviews with businesses revealed strong confidence and resilience with most planning to expand, diversify or improve business efficiency.

“Investment is focused predominantly on plant and equipment, a good indicator of expansion, and staff to support these growth plans.

“Murraylands and Riverland businesses are ready to grow, however there are barriers they must overcome to make this happen.

“Energy costs remain a constraint, especially when competing or exporting interstate. Water allocations for 2016/17 are at 100% but the variability and uncertainty inherent in the system is creating inefficiencies and limits to growth.

“Despite the predicted jobs growth, many businesses are experiencing difficulties in recruiting skilled and motivated staff.

“The RDAMR continues to work with our region to help businesses overcome these barriers and achieve their growth plans.

“A collaborative effort between local businesses, the community and local, state and federal governments will also be required to make these expectations a reality for the region.

“By doing so we can achieve our vision of a vibrant and resilient Murraylands and Riverland that capitalises on change, embraces economic development and prosperity and provides an inspirational living, investment and working environment.”

For further information or to receive an electronic copy of the report please email info(at)rdamr.com.au