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MEDIA RELEASE - Glenelg assists to stengthen state economy

7 September 2018

Victoria has recorded its highest growth rate for a fiscal year since 2009-10 with Glenelg Shire playing a key role.

Data released by the Australian Bureau of Statistics (ABS) showed Victoria had the nation’s highest annual growth at 5.2 per cent – well above national growth at 3.5 per cent.

This trend continued locally with Glenelg Shire experiencing 10 per cent growth in GRP (Gross Regional Product), now valued at $994 million last financial year.

Agriculture, Forestry and Fishing are the shire’s most productive industries, generating $579 million in output during 2016/17 and $259 million in value, adding economic activity up 79 per cent.

Total agricultural exports totalled more than $445 million, an increase of 112 per cent, making the Glenelg Shire one of the state’s most productive export regions.

Manufacturing followed in this gain generating $409 million in export value and $132 million in productivity.

Glenelg Shire Mayor Cr Anita Rank said this trend had been buoyed by a low unemployment rate and growing employment opportunities, proving the shire was a desirable place to invest and call home.

She said more than $259 million worth of investment was forecast this financial year, dominated by the booming agricultural sector.

“A staggering $150 million is being invested in our agriculture, forestry and fishery businesses with a further $97 million in construction projects providing significant confidence for our local economy,” Cr Rank said.

“This is further strengthened by our booming tourism economy which generated $45 million last financial year, attracting almost 470,000 overnight visitors. Real estate is also a growth sector with more than 860 properties changing hands in the last 12 months – a record figure for our shire.

“This is a boom period with a growing list of employment opportunities with growing pages of jobs advertised in our local paper. A recent count showed more than 15 new retail and hospitality businesses have been created in Portland in recent months, illustrating the growing confidence in the local sector.

“Our council is proud of its advocacy efforts, attracting new investment and promoting the region as a desirable locality. We look forward to continuing this hard work and realising the future rewards for our residents.”

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