New data has confirmed the strength of the Rockhampton Region's economy which is experiencing its strongest growth since 2012.
Figures from economy.id showed the Rockhampton Region's Gross Regional Product (GRP) reached $7.6 billion in FY24/25, an increase of 4.3% of real growth from the previous year over and above inflation.
Gross Regional Product is a measure of the wealth generated by businesses, organisations and individuals working in an area.
In total, 13 of 19 industries in the Rockhampton Region recorded growth, which is an excellent result and testament to the diversity of industries within the region.
The main industry drivers of growth were energy, transport and logistics, manufacturing and healthcare.
Council's economic development arm, Advance Rockhampton, has supported this growth through a concerted effort to bolster and expand the local economy and industrial base.
Over the last 12 months, Advance Rockhampton has been focused on regional-scale industry development, small business support and development, and workforce development, attraction and retention.
Quotes attributable to Rockhampton Regional Council Mayor, Tony Williams
"This is a great result for our region and local business and industry. It shows the strength in our underlining economy and gives us a good position to go forward.
"It's positive to see growth across sectors like transport and logistic, manufacturing and healthcare and working with those industries has and will continue to be a real focus for us moving forward.
"My message to locals is we have a strong base, a strong team of business, industry and community leaders and a strong team here at Council making the case for our region and we'll look to drive that growth forward over the next 12 months."
Quotes attributable to Advance Rockhampton Economic Development Manager, Wade Clark
"This result is proof that that Rockhampton Region's economy is growing in size, profitability and diversity.
"By focusing on high-value industries including energy, manufacturing, transport and healthcare, Advance Rockhampton has proudly been part of the journey that's creating an economy where everyone reaps the rewards.
"Strong GRP shows that our efforts across the board are working, and that the Rockhampton Region is well placed to seize and advocate for new opportunities."
Source: https://economy.id.com.au/rockhampton/gross-regional-product
